Return on investment in all sectors of the Nigerian economy are among the best in the world, according to Godwin Emefiele, Nigeria’s central bank governor.
In an address to an elite gathering of capital and money market players, investment bankers, treasurers and other fund managers at the London Stock Exchange over the weekend, Emefiele said “Nigeria is ready for business now”.
He therefore urged investors to pack their bags and come over to Nigeria, as yields on their investment would be worth the while.
Emefiele, who drew intermittent applause from the gathering at the forum organised by the London Stock Exchange in collaboration with the Nigerian Stock Exchange, told the story of how Nigeria emerged from what was it’s worst recession in decades, revealing the ongoing reforms and the huge opportunities available to investors in several sectors notably agriculture, solid minerals and infrastructure.
The Central Bank of Nigeria was singled out for commendation by the participants, particularly for its ingenious management of the foreign exchange market, which saw the recovery of the local currency, the naira as well as the reforms in the funding of agriculture as demonstrated in the success of the Anchor Borrowers Programme and the establishment of the highly successful Investors and exporters window of the foreign exchange market.
Also at the occasion, the Nigerian Banking Sector Report conducted by Afrinvest was launched and it shows that Nigerian banks remain resilient and profitable in spite of the headwinds emanating from the current economic situation in the country.
Part of the highlights of the occasion was the honour given to Emefiele to ring the opening bell for trading last Friday at the London Stock Exchange.
Present at the occasion were Hon. Priti Patel, the British minister for international development; Nikhil Rathi, CEO of the London Stock Exchange; Oscar Onyema, CEO of the Nigerian Stock Exchange; Kayode Fayemi, minister of solid minerals; Patience Oniha, director general Nigeria’s Debt Management office (DMO); Godwin Obaseki, governor of Edo State; and Ik Chioke, group CEO of Afrinvest.