The Federal Government on Thursday
announced plan to issue between five to 10 year visas to foreign investors
coming into the country.
The Minister of Tourism, Culture and
National Orientation, Chief Edem Duke, said this in Lagos at a news conference
on “US Franchise Trade Mission to Nigeria.’’
He explained that the initiative was
part of government’s effort at encouraging foreign direct investment in the
country.
The US franchise trade mission of
nine companies was in Lagos State, as part of its visits to Johannesburg and
Nairobi, to interact with local partners on doing business in Africa.
Duke said, “The Federal Government
is willing to ease franchise opportunities for business owners from the US and
this will be of benefit to us all.
“The Federal Government is
going to ease whatever encumbrances these companies may encounter in developing
their markets in Nigeria.
“And one sure way the government is
looking at is to give five to 10-year visas to would-be investors.’’
The minister also said there were
plans to develop infrastructure – power supply – as well as intensify efforts
at fighting insecurity in the country.
“As we all know, Nigeria is today
one of the world’s investment destinations. So, government will continue to create
platforms for the engagement of investors across the 36 states,’’ he said.
The US Consul-General, Mr. Jeffery
Hawkins, said the US companies were interested in “pursuing franchises in
Nigeria.”
“US companies are today very, very
interested in seeking Nigerian markets for their products,’’ he said.
Hawkins added that franchising would
also serve as a job creator for young Nigerians.
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