Ambassador of Nigeria to Ireland, Mrs Ijeoma Obiezu says the Nigeria-Ireland Trade and Investment Summit set to hold coming months will attract various streams of Foreign Direct Investment (FDI) for both countries, drive export and boost the Nigerian economy.
Obiezu said this on Thursday in Abuja when she inaugurated the Local organising committee (LoC) for the summit which is scheduled to hold from 30th of June to 2nd of July 2022 in Dublin Ireland under the theme “Prospering Together through Trade and Investment.”
The Ambassador said the summit will provide opportunity for policy dialogue, deeping bilateral economic relations, networking between governments and businesses, as well as product exhibitions among others.
She said the key objectives of the summit would be to foster improved private-sector-led, cross-border trade and investment, showcase investment opportunities in the Nigerian and Irish economies and encourage more Nigerian export to Ireland to reduce trade deficits.
Obiezu stressed that the event will be private-sector driven with strong backing of the Nigerian and Irish government and topics will span all economic sectors to include health, communication, education, manufacturing, agriculture, housing, tourism among others.
The Ambassador added that the summit is in fulfilment of the mandate of the Nigerian Embassy in Dublin and to compliment the economic diversification programme of President Muhammadu Buhari-led administration.
“Participation is open to all federal Ministries, Departments and Agencies; states and Local Government Areas,
B businesses, international organisations, civil society and the media .
“The summit expected outcome will include adoption of a communique, establishment of business to business match-making tool, and establishment of Nigeria-Ireland chamber of commerce,” she further informed.
In his remarks Eugene Nwosu, President, Irish Nigeria business association noted that Ireland and the rest of Europe is looking for reliable investment partners. He said, “Its up to us to show them that there are reliable partners in Nigeria. This country needs investment to grow, the opportunities are endless in Nigeria, the potential is huge and foreigners are looking for reliable partners.”
He urged the LoC to mobilize all stakeholders to key into the summit.
Sir Chinedu Ogubuike, consultant to the summit, in his address, said the Summit will bring together key stakeholders on issues of business, trade and investment to brainstorm on how Nigeria can attract more FDI.
“Most developed economies are driven by the private sector and we also believe that there is every need to work hard to attract as much FDI as we can. It is based on that, that her Excellency, being the envoy to Ireland has deemed it fit to bring stakeholders together to brainstorm on how we can add value, increase the levels of FDI and assist the current administration in strengthening the economy,” Ogubuike said.
According to him, this Summit will not be like any other trade investment summit, “it will be an event that will produce result.”
Available record show that Ireland invested nearly $5 billion in Africa in 2021.