“Coming to Lagos is a right step” Ruwase tells Singaporean investors

President Buhari’s Ease of Doing Business and “Next Level” policies seem to be boosting investors’ confidence.

This evidently manifested on July 22 at Four Points by Sheraton Hotel when Babatunde Ruwase,  President, Lagos Chamber of Commerce and Industry, LCCI, played host to visiting investors from Singapore who came under the auspices of Singapore Business Federation, SBF,  the country’s apex business chamber championing the interests of the Singapore business community in the areas of trade, investment and industrial relations .

In his speech, Ruwase, who presides over LCCI, the Nigerian equivalent in trade protection and promotion, assured the investors of the Chambers supports in consolidating their business interests for early and steady returns on investment

“The Lagos Chamber of Commerce and Industry welcomes you all to this Nigeria-Singapore Bilateral Business Forum and B2B session.

The Lagos Chamber of Commerce and Industry has partnered with several institutions to promote International trade relations between Nigeria and other Countries. The promotion of Trade and Investment is a key mandate of the LCCI.

 Nigeria and Singapore have a long history of strong bilateral relations and this forum is an avenue to further strengthen such relationships. Statistics show that Bilateral Relations between our two countries have brought about a trade volume of about N850 Billion [$2.5Billion] between 2011 to 2015.

The scope of economic relations between Nigeria and Singapore is still not consistent with the long-standing cordial relations between both countries.

This may be attributed to the apparent inadequate knowledge of the many investment opportunities in both countries. Nigeria is a vast market with huge potentials for prospective foreign investors and so is Singapore.

Regrettably, investors from both sides do not have adequate information about these opportunities.

With recent incentives for Foreign Investment under the Ease of Doing Business initiative established by the Federal Government, investing in Nigeria is a good opportunity to tap into for foreign investors.

 Nigeria is an economic powerhouse in West African region, it is one of the Africa’s fastest growing economies and Lagos State is the hub for Business and Economic Activities therefore your visit to Nigeria and Lagos State in particular is a step in the right direction towards strengthening our diplomatic and economic ties.

 Once again, I welcome our guests from Singapore and urge you all to have meaningful interactions.

Thank you.”