Nigeria committed to improving investment regime – FG
"...simplifying procedures and creating a conducive atmosphere for businesses to thrive"
The Permanent Secretary, Ministry of Industry, Trade and Investment, Amb. Nura Rimi, has said that Nigeria is committed to improving the investment regime. He also reiterated Nigeria’s dedication to a fair, inclusive and equitable multilateral trading system.
Rimi made this commitment on behalf of Nigeria’s delegation at the conclusion of the country’s 6th Trade Policy Review on Friday in Abuja.
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He commended the World Trade Organisation’s (WTO) members for their constructive review, particularly Amb. Athaliah Molokomme, for the excellent technical assessment and the WTO Secretariat team for their foundational work.
Rimi highlighted the positive outcomes of President Bola Tinubu’s ambitious reforms, which aimed to re-establish macroeconomic stability and ensure inclusive growth.
“In spite of challenges such as Naira devaluation and rising inflation, Nigeria remains committed to narrowing the gap between economic growth and social development.
“The government is dedicated to improving the investment regime and ease of doing business, with efforts focused on simplifying procedures and creating a conducive atmosphere for businesses to thrive.”
Rimi acknowledged the need for improvement in customs procedures and shared ongoing initiatives, including the Trade Modernisation Project and the deployment of 67 scanners across customs seaports and border posts.
He assured that temporary import prohibitions would be reviewed as part of ongoing reforms and that Nigeria is committed to reviewing technical barriers to trade and sanitary and phytosanitary measures.
In the energy sector, Rimi reiterated the government’s efforts to balance energy demand and reduce carbon footprint, with a focus on gas as a transition fuel.
He emphasised Nigeria’s commitment to trade reforms and WTO obligations, reaffirming the country’s dedication to the advancement of the multilateral trading system.
The European Union (EU), represented by Amb. João Machado, welcomed Nigeria’s delegation and commended the country’s progress in economic recovery and development.
The EU emphasised its role as Nigeria’s main trade and investment partner and expressed support for Nigeria’s efforts towards sustainable development and economic diversification.
