The Federal Government is seeking for foreign direct investment in the transportation and other sectors of the economy.
Minister of Transportation, Rotimi Amaechi in Knightsbridge, London, United Kingdom yesterday at the 2016 Business Investment Form, said Nigeria, despite the challenges it was facing, remained an attractive place for medium and long-term export and investment destination.
According to the minister, the fundamentals of the Nigerian economy look very favourable, especially for U.K. exporters and investors in the medium and long term.
Amaechi, who spoke on the theme Open for Business organised by his ministry and Grolla Port Services (GPS), said government policy areas where necessary changes and modifications were needed were also being undertaken and hugely supported by the Federal Government.
He disclosed that the Ministry of Transportation was already implementing and upgrading the national transportation master plan.
“For a sector that plays a major role in the nation’s development, there is an urgent need to exploit the opportunities that abound within the sector to improve its contribution to the national economy,” he said.
“The transformation and change agenda of the Federal Government is striving to reduce dependence on oil revenues and develop the rural economy by massively investing in the critical national transportation infrastructure,” he said.
He also stressed the government’s commitment in making business easy through the visa policies being implemented, which would ensure visa decisions were made within seven days. He also talked about the Doing Business With Ease Commission, which aims to pave the way for a free flow of foreign investors into the country.
The U.K. Parliamentary Under Secretary of State for Transport (Minister for Aviation), Lord Ahmad, said the British government was interested in strengthening its relationship with Nigeria at different levels.
Ahmad said the fact that U.K. and Nigeria have many converging points in areas of language, education and historical antecedents was a reason to ensure trade relationship was deepened.