MINISTERS SOLICIT CORPORATE COUNCIL ON AFRICA FOR GREATER FDI INFLOW




MINISTER of Industry, Trade and Investment, Dr. Okechukwu Enelamah, his counterpart in the Ministry of Foreign Affairs, Geoffrey Onyeama, and Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu, have requested the Corporate Council on Africa (CCA) to accelerate inflow of foreign direct investment from the United States of America to Nigeria.

Okechukwu Enelamah, Minister of Industry, Trade and Investment CCA, a Washington, D.C.-based organization, is the leading U.S. business association focused solely on connecting business interests between the United States and Africa.

The three ministers tabled the request when Ms. Florizelle Liser, President and CEO of CCA, visited Nigeria as part of the ongoing efforts by CCA to promote trade, investment and business engagement between the United States and Nigeria. Enelamah commended Liser and CCA for supporting Nigeria’s efforts to create an enabling business environment and promote US-Nigeria business partnerships. He said: “Many years ago, when we were starting the Africa Capital Alliance, CCA played an important role when there was a strain in the relationship between U.S. and Nigeria, thus ensuring lots of businesses were kept alive. Nigeria recently approved the establishment of the Nigeria Office for Trade Negotiation. One of the functions of the office is to drive proactive negotiation in the areas of trade and investment. The Ministry will be the focal ministry in trade negotiations while the other ministry-members of the presidential economic team will support.”

On his part, Kachikwu, asked CCA and its members’ for support in streamlining and standardizing technology in the oil and gas sector in Nigeria, saying, “We look to CCA when we have something strategic to do with the governments of Africa and promoting greater U.S. FDI (Foreign Direct Investment) into Africa. We are in a trying period and we are looking at whatever investments that comes into Nigeria.” Similarly, Onyeama spoke about his plan to drive economic diplomacy and leverage Nigeria’s 114 foreign offices to drive FDI into Nigeria. He said:

“At the last United Nations General Assembly (UNGA), we were in touch with CCA and we were very impressed with the enthusiasm of US businesses to engage with Nigeria.” Earlier, Acting President, Prof. Yemi Osinbajo, said that Nigeria will continue to seek potential and greater areas of trade relationship with Americans as Nigeria looks to improve trade engagement with the United States of America. He emphasized the importance of driving trade and investment between both countries.

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