Uche Usim, Abuja
In order to cement the existing bilateral trade relationship between Nigeria and the United Kingdom, Minister of Finance, Mrs. Kemi Adeosun, has advised investors from England to latch unto the improved business environment in the country to carry out rewarding investment in key sectors of the economy.
She gave the advice at a meeting with members of the business delegation of the visiting British Prime Minister, Theresa May, in Abuja, on Wednesday.
She said the administration of President Muhammadu Buhari had taken pragmatic steps in creating an enabling business environment for attracting investments, through the establishment of the Presidential Enabling Business Environment Council (PEBEC).
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According to Adeosun, the Nigerian government remains committed to improving 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 can be channeled towards infrastructure financing.
This, according to her, will ensure the capital market plays a pivotal role in stimulating the economy.She added, “We can’t have enough capital to finance infrastructure development. Deepening the capital market is key to the funding of infrastructure in Nigeria.”
The Minister of Power, Works and Housing, Mr. Babatunde Fashola, who commended the support provided by the Department for International Development (DFID) and UKAID, called for more business partnerships between Nigeria and Britain.
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
The UK’s bilateral trade relationship with Nigeria is worth £4.2bn per annum.