The Nigerian Export Promotion Council, today, met with the Polish Investors, hosted by the Coordinator of the Ogun-Guangdong Free Trade Zone, Dr. Abbey Onas. Dr. Abbey Onas narrated his visit to Poland during which he solicited investment in line with the goal of the President Bola Tinubu administration geared towards the promotion of Foreign Direct Investment in the local economy. He stated that the trip enabled him to correct the negative image of Nigeria projected by the media which has discouraged investors. He also affirmed his commitment to the Ogun state economy, which has experienced economic development through the Ogun-Guangdong Free Trade Zone.
According to the Director, Technical of ZGM Investment Group, Arc. Zakirudeen Oladotun, the purpose of the meeting is to introduce the Investment team to the NEPC so as to build a value-based relationship.
Piotr Hurnicki, Regional Director for West Africa of Popowski Advisory, indicated that he championed the idea of bringing investors from Poland for a long-term investment in Nigeria. He stated that the delegation is the second of its kind from Poland as they had visited the country on the 29th of May, this year. He noted that Nigeria is in a similar situation as Poland was in 1991, following its independence from Russia. As such, the team understands the country’s position.
Zbigniew Popowski, CEO of Popowski Advisory, also disclosed that there are ongoing plans to develop a Nigeria-Polish chamber of commerce in Poland within the next six (6) months. This is an important and commendable plan as it would serve as a means of showcasing the various resources available within Nigeria in Poland
Dr. Ezra Yakusak, the Executive Director/CEO of the Nigerian Export Promotion Council (NEPC) said that there are numerous foreign investors in Nigeria despite the negative impressions about the country. He added that once a foreign company is registered in the country, it automatically enjoys all the rights, privileges and incentives of any Nigerian company.
He stressed that the country’s natural resources are rich in quality, many of which remain untapped. He stated that the country has a strong labour force and a large market. He also emphasised the need for the investors to generate employment for the population in order tackle the country’s unemployment problem.
Responding to a question from Michał Biedrzycki, the CEO of Basstion Fruit Sp. z.o.o., about the currency for transactions, Dr. Yakusak stated that the dollar is still the currency for international transactions although the African Continental Free Trade Area is working on a payment system that enables transactions in naira and other foreign currencies. He, however, stated that the investors could transact in naira if any of their clients so desires. When asked about the possibility of trade by barter as an alternative to outright purchase, Dr. Yakusak also clarified that such a method is workable as long as the fundamental requirements are met and the valuations are recorded accurately.
Other NEPC directors and executives present at the visit include:
Lawal Dalhat, Director – Policy and Strategy; Andy Ambikputen, Director – State Coordinating Offices Department; Samuel Abolaji Oyeyipo, Director – Corporate Services Department; Dr. Joe Itah, Director – Trade Information Department; MacPherson Fred-Ileagben, Deputy Director – Product development; Onu Leticia, CTO – Product development; and Olaniyi Ibrahim, ACTPOC