Nigeria assures UK of improved business environment


Minister of Finance, Mrs Kemi Adeosun, has advised investors from the United Kingdom to take advantage of the improved business environment in Nigeria to invest in key sectors of the economy.

She gave the advice on Thursday in Abuja, at a meeting with members of a business delegation of the visiting British Prime Minister, Theresa May.

Adeosun said that President Muhammadu Buhari’s led-administration had taken a bold step in creating an enabling business environment for attracting investments, through the establishment of the Presidential Enabling Business Environment Council (PEBEC).

She expressed the commitment of government to further improve on the business environment and sustain existing reforms to consolidate the gains of the economy through the deepening of the sub national Ease of Doing Business project.

There are lots of business opportunities in Nigeria and the Government is addressing assiduously the impediments to ease of doing business in Nigeria.

“This will make it easier for businesses to grow and contribute to sustainable economic activity in the country as well as create jobs, ”Adeosun said.

The minister also canvassed the need for the deepening of the Nigerian capital market with specific products that could be channeled toward infrastructure financing.

This, according to her, will ensure that the capital market plays a pivotal role in stimulating the economy.

We can’t have enough capital to finance infrastructure development. Deepening the capital market is key to the funding of infrastructure in Nigeria,’’ she said.

Also, the British Minister for Africa, Harriet Baldwin, lauded the trade relations between Britain and Nigeria, adding that more business partnerships would be announced by the visiting Prime Minister.

“We are already partnering with Nigeria in the area of green financing.

“The Prime Minister will during her visit to Nigeria announce further partnership with the Nigerian Government expected to create over 100,000 jobs in the country.’’

UK’s bilateral trade relationship with Nigeria is worth 4.2bn Pounds per annum.