The Federal Government has urged both local and foreign investors to explore Nigeria’s vast economic opportunities, emphasizing its potential for business growth and expansion.
The Minister of Industry, Trade, and Investment, Dr. Jumoke Oluwole, made the appeal on Thursday at the third edition of the Digital Innovation and Creative Excellence (DICE) gathering in Lagos.
DICE, organized by Beyond Limits, is a pan-African initiative focused on digital transformation, innovation, and economic growth for individuals and organizations.
Speaking at the event, themed “Scaling Right: From Market Entry to Market Leadership,” Oluwole highlighted Nigeria’s diverse investment opportunities across sectors such as digital trade, mining, solid minerals, manufacturing, agribusiness, and clean energy.
She reaffirmed the government’s commitment to fostering a business-friendly environment by supporting Small and Medium-scale Enterprises (SMEs) and startups.
“We are focused on making Nigeria an attractive destination for investors and are working tirelessly to eliminate any obstacles that may hinder investment,” the minister stated.
Oluwole also underscored the importance of the African Continental Free Trade Area (AfCFTA) Agreement, which Nigeria signed in 2019. She noted that the agreement aims to establish a unified market for goods and services across Africa, promoting economic integration and cooperation.
“Nigeria is strategically positioned to benefit from the AfCFTA, and we are ensuring that our businesses remain competitive to maximize the opportunities it offers,” she added.
The minister further mentioned various government initiatives designed to attract investments, including the National Investment Promotion Commission (NIPC) and the Nigerian Investment Promotion Council (NIPC). These initiatives provide investors with critical information, business registration support, and investment incentives.
“We are committed to creating an enabling business environment that fosters investment and economic growth. We look forward to working with investors to achieve this goal,” Oluwole emphasized.
In her welcome address, the convener of DICE, Dr. Juliet Ehimuan, highlighted Africa’s growing technology sector and its potential to drive national and continental economic development.
She, however, noted key challenges such as high operational costs, inadequate infrastructure, and fragmented regulations, which need to be addressed to support business growth.
Ehimuan stressed the need for policymakers to establish regulatory frameworks and infrastructure that encourage expansion and innovation. She added that insights from the event would be compiled into a report to aid innovation and policy development.
(NAN)