Several investors in Sweden, on Thursday, October 17, 2024, reiterated their commitment to investments and partnerships worth millions of dollars in Nigeria’s digital economy, health, and other critical sectors.
This followed Vice President Kashim Shettima’s assurance to global investors at a business meeting with Swedish businesses in Stockholm that they can now take unfettered advantage of Nigeria’s investment climate providing limitless opportunities for serious investments.
Shettima said the Nigerian government under President Bola Tinubu has undertaken bold reforms that are restructuring the nation’s economy for sustainable growth, stating that the administration is focused on a competitive business environment that attracts both foreign and domestic investments.
Speaking at Epicenter, Stockholm in Sweden, Shettima noted that Nigeria and Sweden have a time-honoured history of cooperation, particularly in trade, technology, and sustainable development.
The Vice President, according to a statement issued by his spokesman, Stanley Nkwocha, cited opportunities that abound in Nigeria, including the digital economy, agriculture, renewable energy, and MSMEs, among others, stressing that the nation is now “an ambitious nation, bound by the limitless potential of the fourth industrial revolution”.
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He stated: “Under the leadership of His Excellency, President Bola Ahmed Tinubu, the Nigerian government has introduced bold financial reforms, including the unification of exchange rates and the removal of fuel subsidies. Though challenging, these reforms are necessary steps in restructuring the economy for sustainable growth.
“The government’s ‘Renewed Hope Agenda’ emphasises creating a competitive business environment that attracts both foreign and domestic investments. In parallel, our financial sector reforms, such as the revised Cashless Policy and Open Banking Framework, have revolutionised banking services, promoting financial inclusion and providing innovative financial products.”
Identifying digital economy, agriculture, and renewable energy as global priorities and the direction in which Nigeria is headed, Shettima said these sectors are crucial to addressing pressing global challenges such as food security, climate change, and economic growth.
Also speaking, Akinola Jones, the Director of Gluwa, a digital wallet service, said as part of the company’s contribution to the ‘Renewed Hope Agenda’ of Tinubu’s administration, the company would train over 30,000 people in digital skills.
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Jones said they had already started training about 1,000 people in Jigawa State, adding that they were committing $100 million across Nigeria.
Meanwhile, the Managing Director of Ericsson Nigeria, Peter Olusoji Ogundele, has revealed the company’s plan to build a technology hub worth about $19 million in Nigeria.
Ogundele said: “Nigeria has enough youths that can come into that field. We can train them, Ericsson will also take part in it, and some of them we can export to the world, and we will be like another India.
“Ericsson was the first to have over 1,000 sites in Nigeria and continues to invest in the country. We have been here since 1978, and for us, our partnership is an enduring one.”
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