Arise O Nigeria Initiative in Collaboration with the Federal Ministry of Trade and Investment (FMITI) is set to lure at least 100 medium level investors in Canada to invest Nigeria at the Global Leaders Investment Summit to hold in October.
The Executive Governing Council Member, Arise O Nigeria, Festus Ofume informed journalists in Abuja on Wednesday that the summit is in partnership with the Canadian Investment Promotion Council which has over 20,000 registered businesses in Canada of which 100 percent attendance is expected.
According to the Executive director, “We are looking at bringing in 100 medium level investors. After three months there will be a return on investment in Nigeria.”
Ofume explained that the submit presents a robust opportunity for Nigerians to relate with Canadian investors. According to him, Canadian business men and 80 percent of Nigerians in Canada struggle to start up business in Nigeria over insecurity issues, corruption and repatriation of processes and Investment.
Ofume decried that the weatern Media have aaslo painted. Negative perception of Nigeria which has scared investors away as they find doing business in Nigeria as very “risky”
“We will rebrand and resell Nigeria to the inveators, we will show to them that Nigeria is safe for investment and Nigerians in Canada will come back to contribute their own uota to economic development.”
The permanent secretary, FMITI, Edet Japan noted that the summit is in line with the ministry’s mandate to create job which can help solve security issues in the country.
The permanent secretary who was represented by the Director of investment, Ishaya Abednego said as part of efforts to lure and keep investors, the Buhari led administration has implemented reforms which according to him has moved 25 states upward in the World Bank Ease of Doing busines index between 2016 to 2018. She noted that the reforms are currently being deepens to achieve economic growth.
The permanent secretary added that the Federal Government has also removed restriction of foreign ownership of business in Nigeria. She said foreign ownership of 100 percent of business in Nigeria is now possible except in some sectors.
She said the ministry will continue to deepen public-private partnership to achieve the desired economic growth.
The Representative and Bereau Advisor, Social Affairs, African Union (AU) Tunji Asaolu pointed out that the summit is apt especially as the country has signed the Africa Continental Free Trade Area Agreement (AfCFTA).
Asaolu said the summit will not only enhance investment collaboration but will contribute to the implementation of the AfCFTA framework. He added that the summit will provide an venue to strengthen economic diversification in the country.
HARRISON EDEH, ABUJA
