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Nigerian investment climate worries foreign investors – EU

By on December 9, 2015

The Ambassador and Head of the European Union Delegation to Nigeria, Mr. Michel Arrion, on Monday said that a lot of investors from Europe were currently worried about Nigeria’s investment climate.

Arrion stated this during a meeting with the Executive Secretary, Nigerian Investment Promotion Commission, Mrs. Uju Baba.

A statement from the commission said Arrion explained that while majority of European investors were willing to invest in Nigeria, they were, however, worried about the protection of their investments.

The statement signed by the Assistant Director/Head, Media and Protocol, NIPC, Mr. Joel Attah, stated that there was a need for collaboration between the commission and the EU to protect foreign investments.

The statement read in part, “The Ambassador and leader of the EU delegation to Nigeria, Mr. Michel Arrion, stated that Nigeria has the highest EU diplomatic presence in Africa with 20 embassies and high commissions and 10 diplomatic offices, adding that Nigeria is a strategic partner for the EU in political, economic and investment levels.

“He stated that he was at the NIPC to discuss ways to attract European investors to Nigeria and expressed the need for collaboration with the commission so as to protect and guarantee investments from the European nations to the country.”

Baba had earlier in her address called on investors from European countries to consider the NIPC as the first port of call when investing in Nigeria.

She maintained that the commission was the only agency of government that was charged with the responsibility of promoting and attracting investment into the economy, and also had the legal framework on all investment related matters.
[Punch]