Business & Finance

Nigeria Is Safe Haven For Investors – FG


The Federal Government has asserted that Nigeria remains a safe haven for foreign businesses to make profitable investments.

Minister of state for budget and national planning, Zainab Ahmed, said this yesterday when a delegation of foreign investors led by Dr Shamsuddeen Usman, a former minister of national planning, paid her a visit.

The delegation of the foreign investors are from the United States, United Kingdom, Middle East, China, France and South Africa, etc, under the auspices of Renaissance Capital Investments. They held discussions on Business prospects in Nigeria.

While explaining Nigeria’s present favourable business environment, Ahmed said: “Our N6.08 trillion budget is designed to stimulate and reflate our economy. We are making conscious efforts at reducing barriers of doing business in Nigeria. Our government is heavily fighting corruption, and the insecurity challenge is almost successfully tackled.’’

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She also stated that the zero-based 2016 budget is designed to reflate the economy for the creation of jobs, and to boost the productive sectors of the economy.

Responding to the observation raised on the unrealistic non-oil revenue projections for 2016, she said: “The bulk of revenue we require to run the budget will be from non-oil sector. We have gaps in the area of tax collection, but our revenue collecting agencies have a revenue target.”

In his remarks on behalf of the group, Dr Usman commended the close link between planning and budget which is now the case in the ministry, just as he praised the ministry’s effort at updating the Vision 20:2020 development plan.

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