Mohammed Maladho Bah is the Presidential Special Envoy on Investment, to the Liberian government. In this interview with ATHEKAME KENNETH, he spoke, among other issues, on the Nigerian-Liberian trade relations and opportunities available for investors in Liberia. Excerpts:
Can you tell us about your role as a Presidential Special Envoy on Investment in Liberia, and what it involves, specifically in context of fostering economic relations between Liberia and Nigeria?
I serve as the Presidential Special Envoy on Investment. In Liberia, this is how my role is officially designated, though Nigeria may use different terminology. As Presidential Special Envoy on Investment, my role is to strengthen Liberia’s economic ties with strategic partners like Nigeria by promoting trade, fostering investment opportunities, and creating a conducive environment for business collaboration between the two nations.
How would you describe the current trade relationship between Liberia and Nigeria, and what areas do you see the most potential for growth?
Liberia and Nigeria have a long-standing, cordial relationship as strategic partners. Nigeria has supported Liberia in numerous ways, including playing a critical role in restoring peace during our civil war. While trade between our countries has declined in recent years, there is immense potential for revitalisation, particularly in sectors like agriculture, mining, energy, and car spare parts dealerships.
What are the key sectors in Liberia you believe offer the most promising investment opportunities for Nigeria investors since Nigeria’s export to Liberia has decreased over the past five years?
Sectors such as agriculture, energy, mining, fisheries, banking, and tourism hold significant potential for Nigerian investors. These industries are vital to Liberia’s economic growth and align with Nigeria’s expertise and resources.
Can you highlight any specific incentive or benefit that Nigeria investors would receive for investing in Liberia?
Liberia offers several incentives, including tax holidays, duty-free importation of machinery for specific sectors, and access to a growing regional market under frameworks like ECOWAS and the AfCFTA.
How does Liberia’s regulatory environment support or challenge foreign investments, especially from Nigeria businesses?
Liberia has made significant strides in improving its regulatory environment, streamlining processes for foreign investment, and offering guarantees under the Liberia Investment Code. Efforts are ongoing to transform and improve the system daily with infrastructure developments or improvements, particularly in industries like agriculture, mining and energy?
What specific steps is the Liberian government taking to reduce risk for foreign investors, and access to finance potential bureaucratic hurdles?
The government recognises the critical role of infrastructure and agriculture in national development. His Excellency President Joseph Boakai has made it clear that improving roads and agriculture are among his top priorities. Recent investments in roads, ports, energy supply, and agricultural infrastructure are already creating better conditions for foreign investments and supporting industries with growth potential.
The Liberian government is committed to ensuring political stability and reducing investment risks through legal protections, bilateral agreements, and mechanisms to support investor confidence. Like Liberian businesses, foreign investors are protected to trade freely. Liberia’s legal system is transparent and fair.
How would you address common concerns that Nigerian investors might have regarding the ease of doing business in Liberia such as access to finance?
The government is addressing concerns like access to finance and bureaucratic hurdles by simplifying business registration, promoting transparency, and offering credit facilities for investors. However, while the government provides a conducive business environment, it does not guarantee loans from banks. Investors must demonstrate financial responsibility and prove their credibility to access credit facilities.
Are there any successful case studies or Nigerian companies already investing in Liberia that could serve as examples of what others can expect?
Several Nigerian businesses have successfully established themselves in Liberia, particularly in banking, energy, transportation, and retail. Examples include United Bank for Africa (UBA), Ecobank, and GTBank, which are leading banking institutions owned and operated by Nigerians while empowering many Liberians. Additionally, many Nigerian descendants continue to contribute meaningfully to Liberia’s public and private sectors.
How can Nigerian investors benefit from the African Continental Free Trade Area (AfCFTA)
Initiatives to increase bilateral trade include facilitating joint ventures, encouraging Nigerian businesses to explore Liberia’s untapped resources, and expanding regional free trade Area.
What Specific initiatives are being explored to increase bilateral trade between Liberia and Nigeria in the near future?
Initiatives to increase bilateral trade include facilitating joint ventures, encouraging Nigerian businesses to explore Liberia’s untapped resources, and expanding regional trade under the African Continental Free Trade Area (AfCFTA), provides Nigerian investors access to a broader regional market through Liberia, with reduced tariffs and streamlined trade processes. Liberia is fully committed to this transformative initiative.
How is the Liberian government supporting NigeriaN investors in terms of trade facilitation, such as easing customs processes or offering tax breaks?
Liberia is working to ease customs processes, reduce trade barriers, and offer tax breaks, not only to Nigerian investors but to all foreign investors as part of our commitment to creating a business-friendly environment.
Do You foresee any opportunity for Nigerian companies to partner with Liberian enterprises in joint ventures or public-private partnership (PPPs)
We encourage Nigerian companies to explore partnerships with Liberian enterprises through joint ventures and public-private partnerships (PPPs), which are vital for scaling businesses and creating mutual value. Liberian businesspeople are known for their honesty and flexibility, making partnerships productive and rewarding.
How can Nigeria’s Business community and Liberia’s trade mission work more collaboratively to create a stronger investment ecosystem?
Nigeria’s business community and Liberia’s trade mission can collaborate through knowledge-sharing, co-organising trade events, and establishing sector-specific task forces. Liberians and Nigerians share a positive historical relationship, and this foundation can be further strengthened.
Are there any upcoming trade missions or events where Nigerian Investors could learn more about the opportunities in Liberia?
Last year, we conducted a major business event attended by the President of Liberia and several Nigerian businesspeople. While we are planning future trade missions and investment forums to explore opportunities, connect businesses, and engage policymakers, specific dates will be communicated in due course.
Liberia offers untapped opportunities, a stable political environment, and attractive incentives. Nigerian investors have a unique chance to shape and benefit from Liberia’s growing economy.
In your opinion, what is the most exciting opportunity for Nigerian investors in Liberia right now, and why?
Sectors such as agriculture, mining, and tourism present some of the most exciting opportunities, with vast fertile land and increasing demand for agricultural products in the region.
How can Nigerian investors directly engage with the Liberian government or your office to start their investment journey in Liberia?
The government of President Joseph Boakai is committed to flexibility and collaboration. Nigerian investors can directly engage with the Liberian government through the Ministry of Commerce and Industry, the National Investment Commission, or my office as Special Envoy to begin their investment journey, we remain committed to CDIM and PRECUT, our Nigeria Partner, Mr. Folami Olawale. We remain committed to fostering stronger economic ties between Liberia and Nigeria for the mutual benefit of both nations.
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