- The Nigerian government has made key promises to foreign investors in the country
- The assurances were personally made by President Muhammadu Buhari on Tuesday, February 25
- President Buhari, at the commissioning of the Ondo-Linyi Industrial Hub, assured the investors of full security, support and conducive environment for their businesses
Foreign investors in Nigeria have been assured of utmost security for themselves and full for support for their businesses.
The assurance was made by President Muhammadu Buhari on Tuesday, February 25, during the commissioning of Ondo-Linyi Industrial Hub in commemoration of Rotimi Akeredolu's third year in office as governor, Vanguard reports.
President Buhari said that as long as the investors remain in the country, the federal government will continue to create a conducive atmosphere for their businesses to thrive.
He also promised them a smooth and beneficial relationship with the Nigerian government at all times.
The president said: ”We will ensure that investors are supported both at the state and national levels."
On his official Twitter page, the Nigerian leader also expressed his immense appreciation to the people and government of the state for receiving him warmly.
Meanwhile, Legit.ng reported that the Nigeria Investment Promotion Commission (NIPC) in a recent report said that in 2019 the total value of $29.91 billion investments in the country reduced by about 204% as compared to $90.89 billion in 2018.
NIPC noted that not less than 76 projects valued at about $29.91 billion were tracked as investment announcements for the year in review. The projects were announced across 17 states of the federation.
The commission explained that the difference was attributed to the uncertainty in the economy in 2019, particularly as it was an election year.
NIPC added that the uncertainty may have contributed to the perception of the economy by investors, which ultimately affected their sentiments about the country’s business environment.
Lagos state recorded the largest number of projects which is 33, followed by 5 from Ogun, and 3 in Kaduna.
Sixty-six per cent valued at about $19.8 billion valuation of the investments were announced to be located offshore Nigeria. $2.6 billion in Lagos while $1 billion in Ondo.
With about 39 projects valued at a total of $10.8 billion (36%), domestic investors were announced as the most active domestic investors.
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