Nigeria’s economy is recovering, says Adebayo

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Industry, Trade and Investment Minister Otunba Adeniyi Adebayo said on Tuesday that the country’s economy was coming back strongly as foreign investors pledged to invest in the country.

Speaking at the diplomatic lunch of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture in Abuja, Adebayo said, “Nigeria is open for business and our investment climate is strong. continuously improves. 2020 has been a difficult year for all economies, but Nigeria is coming back strong.

“In the first half of this year, investment announcements amounted to $ 10.1 billion; a 100% increase in 2020. Investors from Europe, China, Morocco and the UK are making strong commitments and this administration is working to ensure that those commitments turn into projects that positively affect our nation .

In a ministry statement, Adebayo noted that the federal government recognizes the importance of attracting and retaining patient investment in the economy.

He said this represented FMiTi’s commitment to the strategic relationship that existed with the chamber and to continue to work with its leadership towards the collective goal of attracting more investment to Nigeria.

The Minister said: “This is even more relevant with the implementation of the African Continental Free Trade Agreement.

“The AfCFTA will improve Africa’s ability to unlock growth and create jobs by strengthening our industrial capacity, increasing our productivity and making us more competitive globally.

“NACCIMA is essential to ensure that Nigerian businesses remain competitive in this new environment. ”

He congratulated NACCIMA for organizing the event while encouraging them to remain committed to building sustainable business infrastructure in Africa and across Africa for the benefit of the Nigerian business community.

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