The Federal Minister of Finance,
Mrs. Kemi Adeosun has declared to a Japanese Trade and Investment Mission to
Nigeria that the country is open and ready to continue to do business with the
rest of the world, reports ITRealms.
This is coming as she urged the
big Japanese companies to invest in the country by setting up manufacturing
plants, instead of shipping-in finished products.
Making this call in a discussion
with a Japanese Public and Private Joint Mission in promoting Trade and
Investment in Nigeria in Abuja on Thursday, Adeosun said, the Japanese
Vice-Minister for Foreign Affairs led the 32 private sector and government
organisations to the Ministry of Finance for the engagement.
She said that Nigeria welcomes
Japanese investors in banking, insurance, manufacturing and other sectors
adding that: “We will assist you to do well. Many companies came into Nigeria
and are doing very well and there is nothing to stop Japanese firms from doing
very well.”
She said that the Government is
vigorously working to improve the country’s business environment by investing
in transportation infrastructure and has made doing business in Nigeria easier. “Specific reforms by removing lots of
impediments, fiscal incentives to facilitate your coming into Nigeria to invest
and drive your businesses, are being put in place,” she assured.
Mrs. Adeosun said that Africa’s
biggest economy is now out of recession and wants to grow again, adding that
the Economic Recovery and Growth Plan (ERGP) articulated by the administration
of President Muhammadu Buhari was designed to stabilize the economy and propel
it into growth.
The Minister told the Trade and
Investment Mission that the Plan envisages stabilising the macroeconomic
environment, boosting agricultural production for food security, ensuring
energy sufficiency, improving transportation infrastructure and driving
industrialization through manufacturing.
She stated that there are
opportunities for the Japanese private sector investors, especially through
Public Private Partnerships (PPP) in the development of transportation infrastructure,
hydropower and ports
Mrs. Adeosun expressed
appreciation to the Japanese Government for supporting and executing many
projects through the Japan International Cooperation Agency (JICA).
Earlier in his remarks, the leader
of the Mission, the Japanese Vice-Minister for Foreign Affairs, Mr. Shunsuke
Takei, said that they were on a Mission to in Nigeria as part of the efforts by
the Japanese Government to actualize the US$30 billion Public and Private investment
pledge made in August 2016 during the sixth Tokyo International Conference on
African Development (TICAD) in Nairobi, Kenya, which was attended by President
Muhammadu Buhari.
He said that given the size of the
Nigerian population and market as well as its economic recovery and potential
for growth, Japanese investors were desirous of investing in Nigeria, while noting
challenges in the areas of security, legal and power environments.
He praised the Economic Recovery
and Growth Plan of the Federal Government and expressed optimism that the
foreign exchange situation would improve further.
Pic: The Minister of Finance, Mrs. Kemi Adeosun and leader of the Japanese Trade and Investment Mission led by the Japanese Minister of Foreign Affairs, Mr. Shunsuke Takei.
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