Take advantage of investment opportunities in Nigeria, Buhari tells French companies

2022 budget presentation

Nigeria’s President Muhammadu Buhari has asked French companies to come and take advantage of investment opportunities in the country.

This was stated on Wednesday by the president during the Nigeria International Partnership Forum in Paris.

Buhari said that France-Nigeria bilateral relations are currently at best.

The president asked businesses to take advantage of the opportunities available in Nigeria, adding that the country is investing in infrastructure, climate change and tackling insecurity to ensure that businesses have a smooth environment to thrive.

“Let me finally stress that Nigeria is open for partnership and cooperation. I invite the French business community to take advantage of the vast investment opportunities in Africa’s largest economy,” he said.

”I can assure you that our administration is on the right path to achieving multi-sectoral progress. We have revitalised the economy by increasing investments in capacity building, health, infrastructure, women’s empowerment, climate change, and food security.

“Today, these actions are yielding self-employment, expanding our human resource pool and strengthening our national productivity for sustainable development.”

He said that foreign relations and investments are critical for Nigeria and the world to address the challenges posed by COVID-19.

He further mentioned several investments, innovations and institutions the country has developed to facilitate investment in the country.

“Most recently in Glasgow and earlier in Riyadh, I stressed the importance of international cooperation in addressing the diverse challenges triggered by the COVID-19 pandemic,” he added.

”So far, we have made significant investments in railways, seaports, roads, renewable energy, housing, and many others attractive to prospective investors.

“​In the oil and gas sector, I recently signed the Petroleum Industry Act (PIA). The legislation, which is expected to serve as a liberalising force in the industry, introduced incentives such as tax holidays, zero-interest loans, and easy repatriation of profits.

“Institutions such as the Nigeria Sovereign Investment Authority and the recently created Infrastructure Corporation of Nigeria run as independent world-class institutions to support and facilitate investments in the country.”

Speaking on the sideline of the event, Franck Riester, French minister of foreign trade and economic attractiveness, urged Nigeria needs to create an enabling business environment for companies to carry out their activities.

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