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Make business in Nigeria

11.07.2017 11:05

LuxAfrica Investments Association

(From l. to r.) Yusuf Ajibade, Vice President / Founder Belgium Luxembourg-Nigeria Chamber of Commerce Gradient Consulting Africa; Jeannot Erpelding, Director International Affairs of the Luxembourg Chamber of Commerce; Suleiman Umar, Chargé d’affaires a.i. Embassy of Nigeria in Brussels and Valère Twagirayezu, President LuxAfrica Investments Association

On initiative of LuxAfrica Investments Association, the Luxembourg Chamber of Commerce organized a seminar on Business and Investment Opportunities in the Federal Republic in Nigeria, on Friday July 7th, 2017.

The aim of this event was to inform Luxembourg companies about the current economic and political situation in Nigeria and to provide a platform for business exchange while giving them the possibility to get in touch with interlocutors specialized in the Nigerian Economy.

With a GDP of USD 486 billion in 2015, Nigeria is one of the largest economies of Sub Saharan Africa. As underlined during the seminar by Mr Suleiman Umar, Chargé d' affaires a.i. of the Embassy of the Federal Republic of Nigeria in Brussels, Nigeria's economy has experienced improved social and economic performance over the past decade. This overall positive evolution has not only induced an improvement in most social indicators but also resulted in the emergence of a new generation of middle class.

Mr Yusuf Ajibade, founder of "Gradient Consulting Africa" and Vice-President of the Belgium- Luxembourg-Nigeria Chamber of Commerce added that if it is true that a great part of Nigeria's economy growth story has been mainly driven by the large investments and production in the mineral sector, there is, however, a substantial part of today's growth is due to the rise of more diversified economic sub-sectors.

While acknowledging the persistence of some political and economic challenges still affecting business relations, Mr Ajibade, also referred to various trade and investment opportunities that Nigeria's economy is offering today. In this regard, Mr Ajibade highlighted particularly agriculture, construction and financial services sectors.

After an extensive Question/Answer Session, Mr Jeannot Erpelding, Director International Affairs of the Luxembourg Chamber of Commerce concluded that this country seminar on "Business and Investment Opportunities in Nigeria" laid out a promising foundation for further fostering commercial relations between the business communities of Luxembourg and Nigeria.

Mr Erpelding also reiterated his support to companies requesting additional information about this particular market.