President Muhammadu Buhari has called on French companies to
come and take advantage of investment opportunities in the country.
Speaking on Wednesday during the Nigeria International
Partnership Forum in Paris, Buhari said that France-Nigeria bilateral relations
are currently at best.
The president asked businesses to take advantage of the
opportunities available in Nigeria, adding that the country is investing in
infrastructure, climate change and tackling insecurity to ensure that
businesses have a smooth environment to thrive.
“Let me finally stress that Nigeria is open for partnership
and cooperation. I invite the French business community to take advantage of
the vast investment opportunities in Africa’s largest economy,” he said.
”I can assure you that our administration is on the right
path to achieving multi-sectoral progress. We have revitalised the economy by
increasing investments in capacity building, health, infrastructure, women’s
empowerment, climate change, and food security.
“Today, these actions are yielding self-employment,
expanding our human resource pool and strengthening our national productivity
for sustainable development.”
He said that foreign relations and investments are critical
for Nigeria and the world to address the challenges posed by COVID-19.
He further mentioned several investments, innovations and
institutions the country has developed to facilitate investment in the country.
“Most recently in Glasgow and earlier in Riyadh, I stressed
the importance of international cooperation in addressing the diverse
challenges triggered by the COVID-19 pandemic,” he added.
”So far, we have made significant investments in railways,
seaports, roads, renewable energy, housing, and many others attractive to
prospective investors.
“In the oil and gas sector, I recently signed the Petroleum
Industry Act (PIA). The legislation, which is expected to serve as a
liberalising force in the industry, introduced incentives such as tax holidays,
zero-interest loans, and easy repatriation of profits.
“Institutions such as
the Nigeria Sovereign Investment Authority and the recently created
Infrastructure Corporation of Nigeria run as independent world-class
institutions to support and facilitate investments in the country.”
Speaking on the sideline of the event, Franck Riester,
French minister of foreign trade and economic attractiveness, urged Nigeria
needs to create an enabling business environment for companies to carry out
their activities.
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