The Minister of Finance, Kemi Adeosun has assured foreign investors of Governments commitment towards packaging fiscal incentives that will make businesses operate in a conducive environment as long as they set up manufacturing plants in Nigeria.
Mrs. Adeosun made the stand while receiving the japan Trade and investment Mission led by the Japanese Vice-Minister of Foreign Affairs, Mr. Shunsuke Takei in Abuja,
Mrs. Adeosun said government has set the country on a sustainable growth path by concentrating on infrastructure development as well as making the business environment conducive for investors who will embrace the Economic Recovery and Growth Plan (ERGP) and limit the shipping-In of finished products into the Nigerian economy.
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With the Nigerian economy out of recession, Mrs Adeosun affirms that Africa’s biggest economy is now ready to grow again and the designed ERGP is the propeller towards growth.
“Specific reforms by removing lots of impediments, fiscal incentives to facilitate your coming into Nigeria to invest and drive your businesses, are being put in place,” she assured.
In response, the leader of the mission Mr. Shunsuke Takei said, given the size of the Nigerian population and market, as well as its economic recovery and potential for growth, Japanese investors were desirous of investing in the country, while noting challenges in the areas of security, legal and power environments.
He praised the Economic Recovery and Growth Plan of the Federal Government and expressed optimism that the foreign exchange situation would improve further.
He further gave assurance that the Japanese business community has identified Nigeria as an investment destination with it’s huge potential, but expressed worry over certain issues like security, legal environment, infrastructure and power among others.
By Akin Obakeye…
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