CBN Governor, Finance Minister declare Nigeria safe for business

• Woo Foreign Investors

The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele and the Minister of Finance, Mrs. Zainab Shamsuna Ahmed, at the 2019 Spring Meetings of the International Monetary Fund (IMF) and/the World Bank, projected Nigeria’s image and the business and investment opportunities in the country.

At an interactive session in Washington, Emefiele noted that
investors’ burgeoning confidence in the Nigerian economy attracted over $5 billion investment into the country between February and March 2019 during the general elections, when investors would have been in panic mode.

The CBN Governor assured foreign investors of the safety of their investments, adding that a safe repatriation programme is in place should the need arise for it.

Emefiele said: “Nigeria is indeed open for business and the CBN and Federal Government welcome foreign investors. On CBN’s part, we will continue to do as much as possible, the good things that earned us commendations of IMF/World Bank at the Spring Meetings for maintaining foreign exchange and price stability, as well as containing inflation and building a robust foreign reserve.”

At another forum in Washington, Zainab Ahmed acquainted global investors of Nigeria’s readiness for business, noting that the finance ministry has improved significantly the ease of doing business in the country.

A statement signed by the Special Adviser to the Minister on Media and Communications, Paul Ella Abechi, indicated that Zainab Ahmed gave the assurance on friendly business environment at the “Corporate Council on Africa (CCA) Investor Roundtable: A Conversation with Prospective
Investors.”

The CCA conversation featured a presentation on Nigeria’s 2019 economic outlook. Ahmed said Nigeria was driving reforms in several sectors, which would positively impact on private investors.

“Nigeria’s Economic Recovery and Growth Plan targets investments in critical infrastructure and human capital development, as well as enhance food security, foster industrialisation, create jobs and facilitate the ease of doing business,” she said.

On restoring growth, the minister said that macroeconomic stability and economic diversification (agriculture and food security), mining and minerals remain the priority of the government. She acknowledged that investing in the Nigerian people implies social inclusion, job creation, and youth empowerment.