Foreign investors commend Nigeria’s improved economy

Timothy Choji, Abuja

A group of foreign investors are ready to do business worth billions of dollars in Nigeria because according to them, the Nigerian economy is in good hands and very viable for business.

The Chief Executive Officer of one of the companies doing business in Nigeria, Mr Temi Popoola disclosed this to State House Correspondents in Abuja, after meeting with Vice President Yemi Osinbajo.

“We brought a few investors who collectively, their firms invest hundreds of billions of dollars globally. These investors in Nigeria have a couple billions of dollars’ worth of investments in Nigeria in direct infrastructure, roads, hospitals, in the capital market and many more,” he said.

Mr Popoola said the delegation was in Nigeria to get more assurances from government that will aid their decisions on how to invest more in the country, since most of them already have businesses running in Nigeria.

Nigeria’s Viability

One of the investors, Mr James Friel said they chose Nigeria because of its viability and the determination of the President Buhari administration’s fight against corruption.

“As the largest economy in Africa, it was very easy to choose to do business here. Nigeria is a very exciting place to do business. There is a lot of capital for investment in Africa and Nigeria tops the list of business areas in the continent,” he said.

Mr Friel said the meeting with the Vice President afforded them the opportunity to get some clarity on the economic direction of government.

He commended the corruption fight of the President Buhari led administration, which he said has given more confidence to investors.

“There are a number of things that investors look out for and one of such is security and I think what the Nigerian government has made a key priority and a lot of progress on and reassured investors regarding corruption. They have made tremendous strides there and that’s something that is extremely helpful,” Mr Friel said.