The Afreximbank in partnership with NIPC hosted an investment forum on the sidelines of the Afreximbank 2018 annual meeting in Abuja. The forum was part of four days of activity by the bank to mark its 25th year anniversary since its inaugural meeting in 1993, which also took place in Abuja.
With participants from both the public and private sector, captains of industry/ CEOs and investors, it kicked off with welcome remarks by the Permanent Secretary, Ministry of Industry, Trade and Investment.
In her keynote address, the Minister of state, Industry Trade and Investment outlined initiatives by the NIPC to promote the ease of doing business in Nigeria. These initiatives include the launch of a compendium of investment incentives, investment profiling of opportunities across Nigeria and the launch of an investors’ iGuide.
A feature documentary on Nigeria’s economic blueprint, direction and investment prospects was showcased by the NIPC followed by a presentation on Nigeria’s trade and investment prospects. In the presentation by the Commission’s Director, Investment Promotion, Mr. Emmanuel Adeshina, he stated that Nigeria’s economic recovery was driven by growth in the non-oil sector and by 2030 the economy is projected to become the 19th largest in the world and the 14th largest by 2050.
The presentation was followed by three panel sessions on:
1. Investment prospects for Africa under the Africa Continental Free Trade Agreement (AFCTA)
2. Nigerian Creative Industry: From culture to Investment and
3. Attracting Investments to the Agriculture Value chain
The first panel session highlighted on a need to deepen investment within Africa and the ECOWAS sub-region through the promotion of intra-African trade, provision of investment guarantees, export guarantees and investment intelligence information to mitigate investment risks.
The second session made recommendations on promoting local contents, driving partnerships and local content in the creative industry. The Director General, National Council for Arts and culture who was a member of the panelists informed on a 300 million Naira support fund to the creative industry by the Bank of Industry.
The investment forum came to a close with a session on attracting investments to the agricultural value chain. The panelists highlighted programs aimed at de-risking the agricultural value chain in Nigeria such as the Anchors borrowers programme, the Nigerian Incentive-based risk sharing system for agricultural lending.
In closing, it was noted that twenty years ago, it would have been difficult to have people sit till the close of an event for a topic on Agriculture but today this is possible because Agriculture has become one of the most attractive sectors.
The 2018 Afreximbank annual meeting which started on the 11th July, 2018 continues till Saturday 14th July at the Transcorp Hilton, Abuja and can be followed on social media with the hashtag #AfreximAM2018.