Nigeria has reaffirmed its position as a prime destination for foreign investment, with Vice-President Kashim Shettima assuring investors that the country is ready for business. Shettima gave the assurance on Tuesday while receiving a delegation from Advanced Energy Partners (AEP) at the Presidential Villa, Abuja.
Nigeria’s Economic Reforms Creating New Investment Opportunities
The Vice President highlighted that ongoing reforms by President Bola Tinubu’s administration are transforming key sectors and opening the door for fresh investments. “There is no better time to invest in Nigeria than now. You have come at the right time when we have been blessed with committed leadership,” Shettima said. He explained that through specific policies and interventions, the government is creating a conducive environment for economic growth and foreign direct investments. “Be rest assured that you have invested your trust in the right nation. Nigeria is ready for business. We have crossed the Rubicon and are now on the path of sustainable development,” he added.
The visit by AEP follows a growing interest in Nigeria’s upstream oil industry and other strategic sectors. Senator Abu Ibrahim, Chairman of the consortium, stated that the team aims to explore key investment opportunities, emphasizing Nigeria’s potential for profitable ventures. Representatives from international companies also expressed confidence in Nigeria’s investment climate. Mr. QIANG Wenyu, Vice President of China North Industries Corporation (NORINCO), said the visit builds on a previous meeting with President Tinubu in September 2024 in Beijing. NORINCO is committed to collaborating with Nigerian partners across energy, oil and gas, defense, industry, and mining. Wenyu noted that the company’s annual turnover reached $30 billion last year, underlining its global reputation and operational strength.
Global Investors Express Confidence in Nigeria’s Leadership
Ms. Mahra Al Suwaidi, CEO of Horizon Energy in Abu Dhabi, credited President Tinubu’s leadership for the company’s renewed interest in Nigeria. She emphasized that confidence in the administration is reinforced by the management of critical institutions, including the Nigerian National Petroleum Company Ltd. (NNPCL). Similarly, the UAE’s Ambassador to Nigeria, Salem Al Shamsi, encouraged the consortium to invest without delay, calling Nigeria the “right place” for foreign capital. He further noted that the Tinubu administration has strengthened economic and bilateral ties with the UAE, with non-oil trade between the two nations reaching $4.3 billion in 2024.
Investors are now being urged to take advantage of Nigeria’s reforms, robust leadership, and strategic policies that ensure a favorable investment climate. The country’s focus on economic growth, sector-specific interventions, and international partnerships positions it as a compelling destination for both local and foreign investors seeking long-term returns. With growing interest from multinational corporations and a government keen on sustaining reforms, Nigeria’s investment prospects have never looked brighter.
