The Minister of the Federal Capital Territory, Nyesom Wike, alongside the Governor of Anambra State, Prof Charles Soludo, and others have said FCT should be open for business and streamlining processes to make it easier for investors to set up and operate.
They stated this in Abuja yesterday at the first edition of the Abuja Business and Investment Summit, 2024, which had the theme “Optimising Investments through Partnership.”
The summit was organised by the Abuja Investment Company Ltd (AICL).
He said the FCT Administration has undertaken significant measures to create an enabling environment for local and foreign investors.
He said that the AICL and the Abuja Enterprise Agency have facilitated partnerships, supported investors, and would provide necessary guidance to investors at every step of their investment journey.
He noted the role of security in attracting investors, saying, “The safety of your investments is our top priority.
“We have made considerable strides in enhancing security measures across the FCT and collaborated with law enforcement agencies to ensure a secure environment for businesses to flourish.
“We believe a safe and secure environment is fundamental for successful investments, and we will continue reinforcing our efforts in this area,” he said.
Wike said that besides infrastructure and security, the FCT Administration has also focused on fostering innovation and entrepreneurship by inaugurating several initiatives to empower Small and Medium Enterprises (SMEs).
He added that the SMEs, described as the backbone of the nation’s economy, were accessing funding, training, and resources.
“We plan to cultivate a robust ecosystem that encourages innovation and drives economic growth. I invite investors to explore the myriad investment opportunities in the FCT. Whether you are interested in real estate development, technology incubation, or agro-business, there is a place for you here.
“As I await the outcome of this summit, please let us work together to create value, generate jobs, and drive economic growth in the FCT in line with President Bola Tinubu’s Renewed Hope Agenda,” the Minister said.
He expressed optimism that the summit would exemplify the FCT Administration’s commitment to fostering an investment-friendly environment in the nation’s capital.
He said the summit’s theme resonates deeply with the FCT’s vision of being a thriving hub for business and innovation.
“As we navigate the complexities of today’s economic landscape, it is essential to recognise that the power of collaboration can significantly enhance our investment strategies.
“By forging strong partnerships, we pool resources and leverage diverse expertise and insights that drive innovation and efficiency.
“Abuja is not just the political capital of Nigeria; it is a place of opportunities waiting to be harnessed.
“Our unique position, strategic location, and growing population create a fertile ground for investment across various sectors, including real estate, technology, agriculture, healthcare, tourism, construction mining, and renewable energy.
*Minister to flag-off nine major projects in Abuja
This came as Minister disclosed that he was set to flag off nine major construction projects in the FCT by next week.
“We will flag off the constriction of nine major projects next week, which will undoubtedly enhance investment opportunities across the Territory,” he said.
Earlier, Ambassador Maureen Tamuno, Group Managing Director/Chief Executive Officer, AICL, said the summit was organised to promote investment opportunities in FCT.
Tamuno added that the event was also organised to create a platform for networking among investors in Nigeria and beyond.
“I believe that discussions at this event would inspire us to think bigger and push the boundaries of what is possible in business and investment,” she said.
She noted the power of building strong partnerships for a win-win situation for investors and the FCT.
“Together we can optimise our investments and drive the impactful change that our organisations and countries need for economic prosperity,” she added.
*’FCTA improving infrastructure to enhance investment opportunities’
Meanwhile, the FCT Administration has said it was improving infrastructure in the territory to enhance investment opportunities.
Wike said the FCTA recognised infrastructure as the backbone of any successful investment.
“That is why we have prioritised the development of roads, transportation networks, and utilities to ensure seamless connectivity within the territory.
“From bustling urban areas to our beautiful rural communities, we are committed to improving infrastructure to enhance accessibility and attract investments,” he said.
The Minister disclosed that plans had been concluded to inaugurate nine significant projects across the territory.
According to him, the move will undoubtedly enhance investment opportunities across the territory.
In his keynote address, Anambra State Governor Charles Soludo emphasised the importance of investing in education, particularly technical and vocational training.
Soludo also stressed the need for government at all levels to provide jobs for the people.
“This is to ensure that we unleash the potential of our young people so they can contribute meaningfully to our economy. It is also important to note that the sustainability of Nigeria’s investments lies in empowering its people.
“If we don’t give our youth the tools to participate in tomorrow’s economy, they will become a liability, and the rich will not sleep peacefully if the poor are restless,” the governor said.
The governor further called for a renewed focus on sustainable investments for inclusive growth that benefited the entire population.
He pointed out that while foreign investments were significant, not all are beneficial, stressing that not all investments are suitable.
“We must, therefore, ensure that any investment coming into Nigeria is a win-win situation. Many come with proposals, but they don’t serve our long-term interests. We have to be strategic,” he added.
Soludo equally stressed the need for Nigeria to empower local industries, particularly manufacturing, which can generate sustainable jobs and reduce reliance on imports.
