Nigeria offers incentives for investment

The Consulate of the Federal Republic of Nigeria in China, Mr. Wale Oloko has said that the Nigeria government was focusing more on improving and expanding infrastructure, as well as transforming Nigeria from a consuming to a producing nation through her Economic Recovery and Growth Plan (ERGP).

Oloko said this at a meeting in respect of the forthcoming 14th China International Small and Medium Enterprises Fair (CISMEF).

He promised that his office will ensure more than 36 Small and Medium Enterprises’ from Nigeria will feature in the fair estimated to accommodate over 2,000 Chinese SMEs, as well as over 5000 SMEs from nations such as Malaysia, Thailand and Russia.

He urged the Nigerian government to develop enduring partnerships with friendly countries like the People’s Republic of China in such areas like technology transfer and investment capital, the CG said.

“The Nigeria government takes the issue of economic revitalization very seriously, and will grant incentives to encourage investments in the priority sectors listed in the recently released ‘Economic Recovery and Growth Plan (ERGP)’. The plan is focused on achieving macroeconomic stability, transforming agriculture, driving sufficiency in energy, improving transportation infrastructure and growing industrilisation with attention on small and medium scale enterprises.

“And given Nigeria’s large market and resource endowment”, Oloko continued, “this is a partnership with a win-win outcome. And as Nigeria’s SMEs exhibit food, clothing, handicraft and manufactured agricultural products and so on at the fair, entrepreneurs, SMEDAN and the Consulate General, will provide an update on Nigeria’s economy to give Chinese investors a better understanding regarding ongoing efforts aimed at achieving economic diversification and recovery in Nigeria.

However, the Consulate General of the Federal Republic of Nigeria in Guangzhou and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) are collaborating to ensure that Nigerian entrepreneurs showcase their products to visitors and investors from all over the world and explore export opportunities at the CISMEF scheduled to take place 9th to 13th October, 2017 in Guangzhou.

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