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FG woos foreign investors to maritime sector, others



FG woos foreign investors to maritime sector, others

Transport Minister Rotimi Amaechi says Nigeria‘s maritime sector is a haven of opportunities that the world can seize.

Amaechi told the 2021 Greek-Nigeria Chamber of Commerce Virtual Trade and Technology Investment Forum on Tuesday that Nigeria is a strategic destination for investment opportunities from Greece.

He stressed that the maritime sector should be particularly attractive to Greek shipping and trade.

The minister noted that security on Nigeria’s waterways had improved so vastly as to encourage further investment.

According to him, Nigeria is open to investments in ports and other maritime activities.

“There is currently a huge investment in security and efforts are being made to maintain it,” he said.

Amaechi also said that the approval of the Federal Government for the construction of three new seaports is essential to promote an efficient transportation system.

The new seaports would be in Onne, Rivers; Lekki in Lagos State and Warri in Delta.

Amaechi said that the Lekki seaport would open in December 2022.

Earlier, Mr. Emeka Offor, Managing Director of the Nigerian Investment Promotion Commission (NIPC), reaffirmed the commission’s commitment to helping investors meet the challenges of investing in Nigeria.

He noted that the Federal Government had demonstrated a strong commitment to addressing investment challenges.

According to him, Nigeria is one of the most entrepreneurial, innovative and resourceful economies in Africa.

“The Federal Government has implemented reforms that would ensure that Nigeria progresses in terms of ease of doing business.

“Nigeria enacted the Business and Allied Affairs Act, so it is now easier to do business in Nigeria,” Offor said.

When identifying possible areas of interest for investments, Offor noted that the 36 states of the federation and the FCT have several areas of competitive advantage.

“Nigeria is endowed with sectors of critical interest to investors and the NIPC will continue to provide the positive information that would guide investors to make informed decisions,” said Offor.

He added that Nigeria is best positioned as an ideal entry economy to take advantage of the African Continental Free Trade Agreement.

According to him, Nigeria with a large domestic market; The expanding market for Nigerian goods and services, which creates jobs and economic growth, positions the country as an ideal entry economy.

He added that Nigeria’s manufacturing value added is more than seven times the average of the top 20 economies in Africa.

In his contribution, Mr. Olukayode Pitan, Managing Director / CEO of Bank of Industry, said that investing in technology was an area that should be explored.

He identified Nigeria’s creative industry as very active at around $ 73 billion.

Pitan expressed the BoI’s willingness to grant loans to investors at subsidized rates to encourage businesses.

Mr. Deriziotis Konstantinos, a member of the Board of Directors of the Athens Chamber of Commerce and Industry, said that Nigeria opened windows of opportunity where deeper bilateral cooperation would be profitable for both countries.

Source: NAN

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