This’s Time To Invest In Nigeria, Udoma Tells Investors In London

The Budget and National Planning Minister, Sen. Udoma Udo Udoma, has told participants at the UK-Nigeria Trade and Investment Forum in London to seize the economic policy initiatives yielding positive results in Nigetia with a stable political climate to invest in the country.

Sen. Udoma who was speaking at the plenary session of the Forum said Nigeria’s outlook for 2018, and over the medium term, is very positive as the country had since exited recession and the economy is steadily growing again. He explained that as part of government effort to transform the economy and deliver sustained, diversified and inclusive growth, the Economic Recovery and Growth Plan (ERGP) was put together and several initiatives in the Plan are being implemented to remove constraints to investments. Some of the initiatives include the Presidential Enabling Business Environment Council (PEBEC) and the Focus Labs.

The ERGP is a strategic road map targeted at restoring and sustaining growth, building a competitive economy and investing in our people, he explained. Enumerating reforms and initiatives introduced across various sectors of the economy, Senator Udoma said the Central Bank of Nigeria has established Investors and Exporters Foreign Exchange window to deepen the Foreign Exchange market, boost liquidity and accommodate all Foreign Exchange requirements. The establishment of the Nigeria Industrial Policy and Competitiveness Advisory Council as a vehicle for partnering with the private sector on the industrialisation agenda, completion of 60-day National Action Plan on Ease of Doing Business including the Visa-on-arrival policy and issuance of Executive Order on Ease of Doing Business, are other initiatives of government which the Minister mentioned.