Business & Finance

Nigeria remains best destination for investment – Minister

The Federal Government has reassured the business community that Nigeria remained the destination for investment.

The Minister of Industry, Trade and Investment, Niyi Adebayo, stated this in a keynote address at an Interactive Session for Consumer Goods sector at the Nigerian Stock Exchange (NSE) in Lagos.

Adebayo said the federal government’s strategic and strong reform agenda placed Nigeria 10th on the investment improvers list.

This laudable progress is in addition to the marked improvement from 145th to 131th position on the 2019 ease of doing Business World Bank rankings.

This progress was due to reforms initiated and implemented by the Nigerian government in providing an enabling environment for businesses to thrive, he stated.

Adebayo reiterated the federal government’s committment to improving the business environment towards industrialisation and economic prosperity adding that Nigeria was one of the fastest-growing consumer markets not only in Africa, but the world at large.

He said Nigeria’s consumer market was valued at 377 billion dollars in 2013 and expected to peak at 454.3 billion dollars in 2025.

Adebayo noted the growth was driven by three major factors, namely; population, urbanisation and increased spending power.

Source: Voice of Nigeria