• Thursday, June 13, 2024
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Finland to increase investments in Nigeria

Nigeria, others to unlock $26bn on lower trade finance cost

The Finland Ambassador to Nigeria, Pirjo Suomela-Chowdhury, on Wednesday announced plans by more Finish companies to increase their country’s investments in Nigeria.

Suomela-Chowdhury said in Lagos that the companies were interested in Nigeria and Ghana’s information technology, power supply, infrastructure and meteorological technology sectors.

The envoy added that though there were also some Finish companies currently doing business with Nigerian partners, more of the country’s investors had indicated interest in Nigeria’s investment environment.

“There are presently only few Finish companies in Nigeria and Ghana, including Nokia and Baracella, a power company.

“We have found out that Nigeria and other West African countries have not really witnessed so much investment from Finland.

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“But there are presently a growing interest of Finish companies to come and do business in Nigeria today,’’ she said.

Soumela-Chowdhury said that her country’s representative in East and West Africa met recently on how best Finish companies could harness the huge investment opportunities in the continent.

The ambassador also disclosed her government’s plan to soon follow-up on its company’s interest in Nigeria with high level visits to the Federal Government of Nigeria.

Soumela-Chowdhury urged the Nigerian government to create the right investment environment for foreign investors through the provision of adequate security.

“We, however, look forward to a positive operating environment in Nigeria because no foreign company or investor would want to invest in place with security problems,’’ she said.

Soumela-Chowdhury restated her country’s commitment to sustaining political, trade and economic relations with Nigeria in the years ahead.