UK working with Buhari regime to make Nigeria attractive to foreign investors - The Naija Weekly

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Friday, June 4, 2021

UK working with Buhari regime to make Nigeria attractive to foreign investors


The UK government says it is working with President Muhammadu Buhari’s regime to make Nigeria attractive to foreign investors.

Ben Llewelyn-Jones, British Deputy High Commissioner, said this in a statement when Chidiebere Onyia, Managing Director, UK Nigeria Infrastructure Advisory Facility (UKNIAF), paid him a visit in Lagos.

The statement disclosed that the visit was to discuss UKNIAF’s work on energy, infrastructure financing and roads.

The British diplomat noted that the country must have a competitive edge to attract investments.

“We live in a competitive world where investors are looking for a location that provides adequate return on investments.

“It is important, therefore, to make Nigeria as competitive as possible to attract those investments. There is a lot of goodwill, effort and application; consequently, we must work with the Nigerian leadership while also highlighting this to potential investors.

“This is one of the UKNIAF’s key component areas, which is infrastructure finance,” said Mr Llewelyn-Jones.

He noted that data compilation was critical for regulators and investors to comprehend the impact of policy.

Onyia also said climate change should be considered important and not underestimated.

“The UKNIAF’s effort to assist the regulator in developing evidence-based regulatory practices are critical in raising climate awareness and will go some way to aligning the Federal Government’s priorities with climate-smart principles.

“Looking at government’s priorities through the lens of climate sensitivity do not preclude seeing the broader issues that require attention such as bank ability, efficiency and access.

“Data is always critical for regulators and investors and understanding the impact of policy and allowing data to inform predictable regulation is vital,” he said.


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