Minister of Industry, Trade and Investment of Nigeria, Niyi Adebayo, has assured all companies in Nigeria of the ministry’s preparedness to assist in growing their businesses.
Adebayo said the government is committed to enhance collaborations and promote the right environment for industry, trade and investment.
The minister, who spoke at a virtual parley with French business leaders organised by the Franco-Nigeria Chambers of Commerce and Industry (FNCCI), said the government is working hard to create an environment for investments to thrive.
However, business leaders want the government to provide infrastructure, good road networks among others to enable businesses to thrive.
Managing Director and Chief Executive Officer, SPIE, Guillaume Niarfex, said importation into Nigeria was cumbersome and expensive.
Managing Director, Fan Milk Plc, Ferdinand Mouko, said milk importation was a major challenge to the firm’s investment in backward integration. He said this has resulted in job loss and made the milk-producing company uncompetitive.
He sought government’s assistance to make local companies competitive and profitable.
Chief Executive Officer, Kwik, Romain Poirot-Lellig, said Nigeria has all the assets to be the dominant power in the ICT sector in Africa.
Poirot-Lellig said Kwik firm is currently understudying the Nigerian market as it has just spread to the federal capital territory for penetration into the delivery segment.
He, however, said Nigeria could become the hub for digital delivery.
Commercial Director, Vallourec O and G Nigeria Ltd, Augustin Irabor, said there is a need for ease of business in the flexibility of investors to carry out their operations.
Irabor noted that policy consistency is key in achieving stable business operations in the country.
He said with many inconsistencies in government policies, there is a need for assurance to strengthen the confidence of investors.
Executive Secretary/Chief Executive Officer, Nigerian Investment Promotion Commission (NIPC) Miss Yewande Sadiku, said most of the challenges raised cannot be resolved instantly but gradually, stating that the government has been working on resolving varieties of challenges companies face in dealing with government agencies.
Earlier in his remarks, Chairman, FNCCI, Usman Mohammed, said Nigeria’s relations with France has continued to grow with the number of French companies doubling in Nigeria over the last decade.