Envoy Woos Investors At Nigeria-Belgium Luxembourg Business Forum

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Nigeria-Belgium Luxembourg Business Forum kicked off yesterday with Nigeria’s Ambassador to Belgium, Mr Obinna Chiedu Onowu, wooing investors in ICT, youth

In his words: “Government has signed a multilateral cooperation agreement on mutual assistance on criminal matters. Far reaching reforms have been embarked upon to diversify the country’s economy as we have moved away from fossil oil fuel to green energy; we expect more partnerships in the non-oil sector including financial services.”

In his presentation, the director, Investment Promotion of Nigerian Investment Promotion Commission, Abubakar Yerima said though trade between Nigeria and Luxembourg has been relatively small, Luxembourg is a major global financial centre and its finance and investment management expertise has attracted interest from Nigerian stakeholders.

On why Nigeria should be a destination for investors, Yerima disclosed that its economy is on the path of steady growth recording 3.1 per cent growth rate in 2022 and 2.3 per cent in the first quarter of 2023. He said Nigeria is more ready for Foreign Direct Investment than most African countries adding that many Nigerian companies particularly in the service sector have long developed the capacity to serve the rest of Africa.

 

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