Stop dumping finished goods in Nigeria – Adeosun tells Japanese businessmen

The Minister of Finance, Kemi Adeosun has urged a Japanese Trade and Investment Mission to Nigeria to invest in the country by setting up manufacturing plants, instead of shipping-in finished products.

Adeosun stated this in a discussion with a Japanese Public and Private Joint Mission in promoting Trade and Investment in Nigeria in Abuja on Thursday.

According to her, President Muhammadu Buhari’s government was open and ready to continue to do business with the rest of the world.

She added that the federal government was vigorously working to improve the country’s business environment through investment in transportation infrastructure and the ease of doing business.

She said: “We urge you to set up manufacturing plants, instead of shipping-in finished products into the country.

“We will assist you to do well. Many companies came into Nigeria and are doing very well and there is nothing to stop Japanese firms from doing very well.

“We have introduced specific reforms by removing lots of impediments.

“Fiscal incentives to facilitate your coming into Nigeria to invest and drive your businesses, are being put in place.”

Earlier in his remarks, the leader of the Mission, the Japanese Vice-Minister for Foreign Affairs, Mr. Shunsuke Takei, said that they were on a Mission to in Nigeria as part of the efforts by the Japanese Government to actualize the US$30 billion Public and Private investment pledge made in August 2016 during the sixth Tokyo International Conference on African Development (TICAD) in Nairobi, Kenya, which was attended by President Muhammadu Buhari.

He said that given the size of the Nigerian population and market as well as its economic recovery and potential for growth, Japanese investors were desirous of investing in Nigeria, while noting challenges in the areas of security, legal and power environments.

He praised the Economic Recovery and Growth Plan of the Federal Government and expressed optimism that the foreign exchange situation would improve further.

Via Daily Post

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