The Nigerian Investment Promotion Commission says private investments in Nigeria is expected to yield $30 billion (N450 billion) in the next 10 years.
Mustapha Bello, Chief Executive Officer of the commission, gave this projection at the first Mauritius-Nigeria Business Forum on Monday in Lagos State.
The forum was organised by the Mauritius Board of Investment in conjunction with the NIPC.
Bello said that the Federal Government had created an enabling environment to attract Foreign Direct Investment to the country.
He said: “The government is focusing on driving the economy to yield per capita gross domestic product of $4,000 as against the current $2,000.
“Nigeria has become an economic destination for foreign investors in recent years because of its sustained economic growth in spite of the global recession.
“The predictable framework that enhances a robust private sector has been supporting foreign investments.”
Bello was represented by Idowu Isaac, a director in the commission.
Ken Poonoosamy, the Managing Director, BOI, said that Mauritius entrepreneurs were ready to partner their Nigerian counterparts in agribusiness, maritime, marine, renewable energy and the oil.
Poonoosamy said that the forum was organised to create business cooperation between Nigerians and Mauritians.
He said: “We have undertaken this initiative to develop an outward investment strategy to tap into the growing investment opportunities in Nigeria.
“Mauritius operates an open economy that provides enabling environment for bilateral business agreements.
“It takes less than five days to establish business in our country.
“We do not impose a minimum capital requirement on investors.
“We have a flexible tax system with income tax at about 13 per cent and corporate tax at about 15 per cent
“We started as a mono-crop economy through our reliance on sugar cane production and sugar processing, but we now have a diversified economy.”
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