LCCI DG seeks more foreign investments in Nigeria’s non-oil sector

Posted by News Express | 5 March 2016 | 3,205 times

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The Director-General of the Lagos Chamber of Commerce and Industry, Mr Muda Yusuf, on Friday urged foreign investors to take more advantage of the huge opportunities in Nigeria’s non-oil sector.

Yusuf told the News Agency of Nigeria (NAN) in Lagos on the sidelines of the 5th Annual Indian Products and Services Exhibition (IPASE-V), that Nigeria’s non-oil sector needed more investment.

The director-general said that it was imperative for other foreign investment to emulate India in investing in Nigeria’s non-oil sector.

“Nigeria has an economy that is heavily diversified with a huge population and large market.

“All these provide a lot of opportunities for more foreign investors to take advantage of Nigeria’s non-oil sector.

“This is the right time for more foreign investors to come into Nigeria and tap into the enormous opportunities that currently exist in Nigeria’s oil sector.”

Yusuf, however, appealed to would be investors in Nigeria’s non-oil sector not to be discouraged by some government policy constraints, assuring that the investors who patiently believed in Nigeria would smile in the near future.

He commended the High Commission of India in Lagos for organising the exhibition which, he said, would continue to promote trade relations between Nigeria and India.

According to him, there are currently many Indian companies doing business in the non-oil sectors across Nigeria.

“This exhibition is a step in the right direction to promote trade relations between India and Nigeria.”

Mr Vyas Choudhary, Head of Chancery of the Lagos Office of the High Commission of India, told NAN that a three 3-Day exhibition was meant to promote the visibility of Indian products and services in Nigeria.

Mr Chimezie Okwuosa, Chairman, Board of Trustees of Lagos State Fashion Wear Dealers Association, told NAN that about 80 percent of Nigerian traders were currently visiting India for businesses.

Okwuosa also said that most of the T-Shirts and ‘George’ traditional wears worn by Nigerians were being imported from India to Nigerian markets.

He commended the High Commission for its commitment to facilitating trade relations between Indian products manufacturers and Nigerian traders. (NAN)

•Photo shows Mr Muda Yusuf.

Source: News Express

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