Nigeria Showcases Economic Reforms to Canadian Business Community
By Patience Ikpeme
In a move to attract foreign investment and bolster economic cooperation, the federal government has presented its economic reforms and investment opportunities to a delegation of Canadian investors.
The event, held in Abuja, was spearheaded by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, alongside the Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu.
The meeting was hosted by the African Capital Alliance, a prominent private equity firm, under the leadership of its Chairman, Mr. Okey Enelamah, who previously served as Nigeria’s Minister of Industry, Trade and Investments. The session marked a strategic effort to enhance bilateral economic ties and present Nigeria as a viable investment destination.
During the engagement, Mr Edun and Bagudu highlighted the Federal Government’s commitment to fostering a conducive business environment and attracting foreign investment. They detailed several key reforms and initiatives aimed at improving Nigeria’s economic landscape, promoting sustainable growth, and encouraging private sector participation.
“This meeting demonstrates our commitment to fostering economic cooperation between Nigeria and Canada,” stated Mr. Edun. “We are dedicated to creating a conducive environment for investors and promoting economic growth,” added Sen. Bagudu.
Mr. Okey Enelamah, Chairman of African Capital Alliance, emphasized the importance of the meeting in aligning with the organization’s mission. “African Capital Alliance is pleased to facilitate this engagement, which aligns with our mission to promote private sector investment in Africa,” Enelamah remarked.
The Canadian delegation, comprised of top executives from leading companies, expressed strong interest in exploring Nigeria’s investment opportunities. The delegation included: Victor Dodig, President of CIBC Group; Peter Gilgan, CEO of Mattamy Asset Management; Blake Hutcheson, President of OMERS; Tim Gitzel, President of Cameco; Stephan Crétier, President of Garda World Security Corp., Goldy Hyder**: President of the Business Council of Canada; Isaac Olowolafe**: Co-Founder of BKR Capital; James Christoff, High Commissioner of Canada to Nigeria
These executives represented diverse sectors including finance, security, real estate, and energy, reflecting the broad spectrum of potential investment interests in Nigeria.
The meeting underscored the Nigerian Government’s proactive stance in engaging with international investors and underscored the potential for strengthened economic ties between Nigeria and Canada. With ongoing reforms and a focus on creating a favorable investment climate, Nigeria aims to attract substantial foreign direct investment to drive its economic growth.
The collaborative efforts between the Nigerian Government and the Canadian business community hold promising prospects for future economic partnerships, enhancing trade relations, and contributing to the overall development of both nations.
