Fair to Attract Over $50 billion Investment to Nigeria in Q1 2017

By November 14, 2016 Investment News

Organisers of a four-in-one international fair, Elan Expo, have stated that its ongoing fair is expected to attract over $50 billion worth of investment into Nigeria by 1st quarter 2017.

The Project Coordinator, Nigeria 4-in-one, Elan Expo, Jude Chime, explained that the fair which is first of its kind, has attracted over 60 companies from 12 countries all over the world to showcase investment opportunities in the nation’s food and agro, cosmetics, furniture and construction industry.

Speaking during the opening ceremony of the fair, he said Nigeria has the competitive and comparative advantage to drive economic growth deploying effective use of the nation’s non-oil sector, maintaining that the fair is coming on the heels of the federal government’s quest to achieve economic diversification.

“This is the first time we are having a four-in-one exhibition in Nigeria and they are mostly on the sectors that the present administration is interested in to drive economic growth. We are having this fair to open up investment opportunities in the construction sector, food and agro, cosmetics and furniture.

“It has been wonderful where those in the business community have really turned up where a whole lot of businesses are going on as we speak. We expect a whole lot of investment coming into the country probably by first quarter of 2017.

“With this fair, we should have a whole lot of investors coming into Nigeria next year to establish their companies and also have representatives which would go a long way in reducing the unemployment situation in the country. Over $50 billion worth of investment is expected to come into this country courtesy of this fair. We have about 60 companies from 12 countries all over the world where one of the companies alone is worth more than a billion dollars”, he added.

The International Sales Coordinator, Elan Expo, Elif Akkoc, said the fair is open to public and professional visitors, saying that investment deals on the four sectors can be achieved with the fair.

“Our expectation is to receive the public and professionals in order to showcase investment opportunities in these sectors. Nigeria is a country with a huge potential with a big population where we can help bring some manufacturing technologies the country currently do not have in order to boost the real sector of the economy,” she added.

National President, of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Bassey Edem, added that exhibitions such as the four-in-one fair, are crucial to trade facilitation because they provide a platform for investors and others stakeholders to present the opportunities that promote economic activity.

The expo brought together visitors with pioneer exhibitors from 12 different countries such as United Arab Emirates, China, Oman, Thailand, South Africa, Kuwait, Libya, Portugal, Turkey, Switzerland and Greece.

Source: <Guardian>