FG Assures UK on Ease of Doing Business

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Former Minister of Finance, Mrs. Kemi Adeosun

Ndubuisi Francis in Abuja

The federal government has asked investors from the United Kingdom (UK) to cash in on Nigeria’s improved business environment to invest in critical sectors of the economy.

The Minister of Finance, Mrs. Kemi Adeosun gave the admonition in Abuja Thursday when she met with a business delegation of the British Prime Minister, Theresa May.

According to Adeosun, the President Muhammadu Buhari administration had taken a bold step in creating an enabling business environment for attracting investment via the the Presidential Enabling Business Environment Council (PEBEC).

She expressed the commitment of the government to further improve on the business environment and sustain existing reforms to consolidate the gains of the economy by deepening of the subnational Ease of Doing Business drive
Adeosun said, “There are lots of business opportunities in Nigeria and the Government is addressing assiduously the impediments to ease of doing business in Nigeria.

“This will make it easier for businesses to grow and contribute to sustainable economic activity in the country as well as create jobs.”

The Minister also canvassed the need for the deepening of the Nigerian capital market with specific products that can be channeled towards infrastructure financing.

Acording to her, this would ensure that the capital market plays a critical role in stimulating the economy.
“We can’t have enough capital to finance infrastructure development. Deepening the capital market is key to the funding of infrastructure in Nigeria,” the minister added.

In his remarks, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, who applauded the support of the Department for International Development (DFID) and UKAID, solicited more business partnerships between Nigeria and the UK.

Also speaking, the British Minister for Africa, Harriet Baldwin expressed delight on the trade relations between Britain and Nigeria, noting that more business partnerships would be announced by the visiting Prime Minister.

“We are already partnering with Nigeria in the area of green financing. The Prime Minister will during her visit to Nigeria announce further partnership with the Nigerian Government expected to create over 100,000 jobs in the country

The British bilateral trade relations with Nigeria is about £4.2 billion annually.