Political office holders, experts, and stakeholders, including Mr. Nyesom Wike, the Minister of Federal Capital Territory, and Prof. Charles Soludo, the Governor of Anambra State, underscored the importance of collaborative investment for the economic development of Abuja during the inaugural Abuja Business and Investment Summit. The summit, held at the Shehu Musa Yar’Adua Centre, had the theme “Optimizing Investments through Partnership.”
The event brought together government officials, industry leaders, heads of foreign missions, development partners, and prospective investors, aimed at showcasing the vast investment potential within Nigeria’s Federal Capital Territory (FCT).
In his opening remarks, Wike highlighted the significant opportunities available in various sectors, including agriculture, healthcare, tourism, construction, mining, and renewable energy. He announced that his administration plans to launch nine major projects next week to improve investment conditions in the FCT. “Security is paramount in attracting investors. The safety of our investments is our top priority,” he stated, emphasizing ongoing security measures to create a conducive business environment.
“Abuja is not just the political capital of Nigeria; it is a place of opportunities waiting to be harnessed,” Wike added. He encouraged both local and foreign investors to explore opportunities in real estate, technology, agro-business, and more.
Prof. Charles Soludo, in his keynote speech, expressed concerns regarding Nigeria’s low Foreign Direct Investment (FDI) flows. He emphasized the necessity for Nigerians to support local products, describing foreign companies exiting Nigeria as “opportunistic” firms that quickly move on when challenges arise.
Soludo remarked, “Dear friends, there is what we call the new mercantilism and pseudo-nationalism; it’s both a threat and an opportunity. In today’s world, in many countries, new nationalism is back. Economic nationalism is back; new mercantilism is back.”
The summit aimed to foster collaboration among stakeholders to attract investment and bolster economic growth in Abuja, highlighting the need for a united approach to unlock the region’s potential.