Nigeria Offers Lucrative Investment Prospects to Foreign Investors
By Patience Ikpeme
The Nigerian government has assured foreign investors of their ability to repatriate 100 percent of their foreign exchange, coupled with an impressive 30 percent Return on Investment (RoI) guarantee for businesses established within the country.
During a recent engagement in Abuja, Hon. Stella Okotete, the Executive Director of Business Development at the Nigeria Export-Import Bank (NEXIM), conveyed these assurances to a visiting Mexican delegation.
Okotete emphasized Nigeria’s abundant opportunities in non-oil exports, affirming that investors could freely repatriate their funds, citing Nigeria as an ideal investment destination with a significant potential for high ROI.
Okotete underscored Nigeria’s potential for collaboration in developing its mining and rubber production sectors for export. She highlighted the untapped mining opportunities and expressed the government’s willingness, through NEXIM, to engage with businesses or investors interested in these sectors. Specifically, she advocated for partnerships to bolster Nigeria’s position in tyre manufacturing, capitalizing on the automotive industry’s spare parts production capabilities.
Dr. Heriberto Garcia Cortes, President of Seccion International Para Africa, emphasized Mexico’s substantial $1.4 trillion USD economy, presenting a wealth of opportunities for Nigerian businesses and exporters. He emphasized the mutual benefit achievable through identifying and leveraging business opportunities in both Nigeria and Mexico, fostering trade, investments, and financial support to elevate both nations’ development through strategic trade policies.
Dr. Cortes expressed Mexico’s eagerness to establish a formal relationship with Nigeria, highlighting the readiness of Mexican entrepreneurs to engage in secure business ventures within the country.
The discussion culminated in an agreement to develop a pragmatic template/framework outlining areas of partnership and mutual support, specifically focusing on bolstering trade relations between the two nations, particularly in the agro-allied and solid minerals sectors.
