FG committed to creating favorable environment for investments – Kalu

From Ndubuisi Orji, Abuja

Deputy Speaker of the House of Representatives, R Benjamin Okezie Kalu has said that the President Bola Tinubu administration is committed to creating a favorable climate for investments in the country.

Kalu, according to a statement by his Chief Press Secretary, Levinus Nwabughiogu, stated this, on Friday in Abuja, at an event organized by Evolve Camp, a youth mentorship and national development group.

Consequently, the deputy speaker charged foreign investors to make the their first choice of business destination.

The statement noted that Kalu, speaking on the topic “Unlocking National Prosperity: Assessing the Place of Government Policies in the Prosperity of the Nation”, said the country has made progress in ease of doing business.

“We must come together when it comes to policy making. What you say here today matters to us because we will be asking for a report on this. We wish to know the mind set of Nigerians and their desires.

“In Nigeria, we recognize that for our nation to thrive, we must provide the private sector with the ideal conditions to flourish. A thriving private sector translates into job creation, increased revenue, technological advancements, and overall economic growth. But the question that often arises is: how can public policy convince investors that the government is committed to creating a favorable investment climate?

“As of 2020, Nigeria’s ease of doing business ranked 131st worldwide. With a general score of 56.9. While we have made progress in certain areas, there’s still much work to be done.

“On May 10, 2023, the government of Nigeria approved the first-ever Nigeria Investment Policy. This policy is a significant milestone and a clear indication of our commitment to creating a conducive environment for investors which is very important.

“Foreign direct investors are not looking for too much. They are looking for credibility, the confidence that their projections will be reliable, without any shocks.

“I’m assuring you that this administration is thinking in that direction. If you didn’t have confidence before now, you need to have confidence that Nigeria is good to go.

“It encourages responsible investor’s confidence. One thing is to have investors come into a conducive atmosphere, the other is to have them behave in line with best practices.

“What we have set out to do is encouraging responsible investors conduct themselves in line with global acceptable standards which include those related to environment, ” he stated.