NBCC Forum: Experts Discuss Nigeria As a Gateway to Emerging African Markets

By July 25, 2020 NEWS

Dr. Doyin Salami, the Chairman of the Presidential Economic Advisory Committee giving his views emphasized the fact that there are investment opportunities to be found in Nigeria in different dimensions.

According to him one of the biggest sets of circumstances that makes Nigeria the Gateway to Emerging African Markets is the exciting reforms that will change the dynamic of activities and spur growth. In the last few weeks, there has been an increasing appetite for reforms in the Buhari administration, which is tending to an inclusive approach, Dr Salami said.

Speaking further on Nigeria’s growth trajectory, Dr. Salami said the foundation of the economic framework and reforms, laid will be critical for uplifting millions from poverty, which is at the forefront of the Buhari administration’s agenda.

Ms Yewande Sadiku, Executive Secretary/CEO of Nigeria Investment Promotion Commission, (NIPC) noted that despite the challenges, Nigeria was projected to be the world’s 14th largest economy and 3rd most populous country by 2050.

Sadiku stressed that Nigeria remains a leading investment destination, mentioning factors like natural resources, demographics, size of domestic markets, and government policies. She said that NIPC has put in place a compendium of investment incentives in the country, and is working out modalities for States to come up with incentives and opportunities for investors. 

Sarmad Lone (Head of Corporate, Commercial & Institutional Banking – Africa & Middle East, Standard Chartered Bank) giving his opinions, said that the numerous business opportunities in Nigeria make it a profitable destination for investors. However, he revealed that the pathway to development in every industry in Nigeria is a steep one which serves as a positive sign for prospective investors. He alluded to the fact that the country needs to work on essential reforms and improve critical infrastructures.

 

Source: Proshare