The Minister of Industry, Trade and Investment, Adeniyi Adebayo, disclosed that Nigeria’s investment announcement in the first half of 2021 stood at $10.1 billion.
Adebayo, who shared this in Abuja on Tuesday at the luncheon of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said that the figure was a 100 percent improvement from the previous year.
He added that the Africa Continental Free Trade Agreement (AfCFTA) would create a window of growth and create jobs through the growth of the country’s industrial strength.
The minister said, “Nigeria is open for business and our investment climate is continually improving. The year 2020 was challenging for all economies but Nigeria is coming back strong.
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“In the first half of this year investment announcements were at $10.1billion; an increase of 100% in 2020. Investors from Europe, China, Morocco and the UK are making strong commitments and this administration is working tirelessly to ensure that these commitments turn into projects that positively affect our nation.
“I would like to reiterate my Ministry’s commitment to the strategic relationship that exists with the Chamber and to continue working with the leadership towards our collective objectives.
“This is even more germane with the implementation of the Africa Continental Free Trade Agreement (AfCFTA).
“AfCFTA will enhance Africa’s capacity to unlock growth and create jobs by building our industrial capacity, enlarging our productivity, and making us more competitive globally.
“NACCIMA is pivotal in ensuring Nigerian businesses remain competitive in this new environment.”
