- FG Seeks More Investment from Europeans
The Federal Government on Thursday called on European investors to increase the level of their investments in Nigeria.
The Minister of Budget and National Planning, Udo Udoma, made the call at a conference in Brussels, Belgium.
The main objective of the conference was for the European Union to formally present to the West African sub region the European Investment Plan as a tool for driving investment and inclusive economic growth in West Africa.
Calling for improved private sector investment in Nigeria by European businesses, he said the country’s investment climate was now very attractive and conducive.
Udoma, according to a statement by his Media Adviser, Akpandem James, said the President Muhammadu Buhari administration had taken steps to improve the business climate in the country, adding that the business outlook for 2018 and in the medium-term was very positive.
The minister told the gathering that Nigeria was open for business because the current administration had taken steps to improve the business climate by initiating reforms aimed at stabilising the macro-economic environment.
The reforms, he noted, were also assisting in improving infrastructure and removing impediments that hitherto constrained business development in the country.
He reiterated the government’s determination to deliver on these objectives aimed at achieving sustained inclusive growth and attaining at least seven per cent Gross Domestic Product growth rate by 2020.
With the implementation of some of the reform initiatives, the minister said it had become much easier now to register and establish businesses in Nigeria.
He noted that there were positive signs manifesting in the economy to show that the reforms were working.