The Nigerian Minister of State for Industry, Trade and Investment, Mrs Mariam Katagum says Nigeria is one of the most attractive investment destinations in Africa.
The Minister was speaking at the maiden Nigeria-Egypt Trade Conference and Exhibition, with the theme “For Africa – By Africa” taking place in Cairo, Egypt.
The Minister pointed out that Nigeria is a country blessed with huge natural and mineral resources in commercial quantities, favourable climate conditions and high potentials for industrial development adding that the country is one of the most attractive investment destinations in Africa.
According to her, “At the onset of the Covid-19 pandemic, the government made tremendous efforts towards sustaining MSMEs, which are the engines of economic growth in any economy.”
The MSME Survival Fund and the Guaranteed Off-take Schemes which is within the framework of the Nigeria Economic Sustainability Plan, were approved by President Muhammadu Buhari on 1st July, 2021″.
The Minister also disclosed that the Government of Nigeria through the Federal Ministry of Industry and Trade and Investment and the Nigerian Export Promotion Council (NEPC) launched the first Export Trade House (ETH) in Egypt on the 21st March, 2022 in Sadat City.
She explained that the choice of Egypt was deliberate, as Egypt is the gateway to North Africa and to boost the trade relations between Nigeria and Egypt.
She said through the ETH, the visibility of Made in Nigeria products and Nigeria’s market share in Egypt and North African Countries will be enhanced.
“The Nigerian Egyptian Cultural, Social and Economic Forum was launched here in Cairo. In addition, the Ministry also participated actively at the Intra-Africa Trade Fair held in Durban, South Africa in November 2021. All these are meant to expose Made-in-Nigeria products in the international market” she stated.
Amb. Katagum noted that the Ministry is actively involved in the implementation of the National Quality Policy (NQP) which is meant to guide Nigeria as a country to build a sustainable quality infrastructure in order to make Nigeria products competitive in both the domestic and international market.
She explained that Commerce 44 is an Export Strategy designed to develop and promote the export of (11) Agricultural Commodities, (11) Manufactured Products and (11) Solid Mineral Products with high export potentials, which will translate to an increase in job creation, income and wealth creation, revenue generation, poverty reduction, increase in volume of export for processed products, improved market access through enhancement of quality and packaging of the identified products to (11) target countries/regions of the world.
“In February 2022, the Ministry moved into the next phase of revitalizing and expanding the scope of Commerce 44 to Commerce 160 to accommodate 40 more Agric Commodities, Solid Minerals and Manufactured products to expand the Export frontier due to new and emerging markets.
“On 21st March, 2022, a Technical Committee on the development of a Road-map and Operational framework for Halal certification in Nigeria was inaugurated.
“This is aimed at increasing the patronage and consumption of products coming from Nigeria, not only by Muslims but also non-Muslims with selective lifestyles.
“And halal global market is estimated to be about US $2.6 trillion, and Nigeria is fully committed and ready to take advantage of that.” Amb Katagum stated.
The Minister maintained that Federal Ministry of Industry, Trade and Investment, is passionate about facilitating the growth of investments in the e-commerce value-chain, capable of contributing significantly to the Country’s GDP, adding that, the sector grew from 14% in 2019 to 17% in 2020.
Hauwa Abu
