ABUJA: The Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike, has reiterated the administration’s dedication to fostering a business-friendly environment in Abuja, urging both local and foreign investors to take advantage of the numerous opportunities within the Territory.
This is as the Governor of Anambra State, Prof Charles Soludo called for a renewed focus on sustainable investments in Nigeria, emphasizing the need for inclusive growth that benefits the entire population.
They both spoke at the inaugural Abuja Business and Investment Summit on Wednesday in Abuja, Wike underscored the FCT’s strategic importance as a center for innovation and economic growth, pointing to the administration’s focus on infrastructure development and security to attract and retain investments.
Wike highlighted the immense potential for investment in Abuja. He emphasized the need for strong partnerships, stating that collaboration is essential to successfully navigating the complexities of the global economic landscape. The summit, themed “Optimizing Investments Through Partnership,” provided a platform for stakeholders to explore opportunities in key sectors such as real estate, technology, agriculture, healthcare, tourism, construction, mining, and renewable energy, all of which are set for growth in the FCT.
He also announced the imminent commencement of nine major infrastructure projects, aimed at improving connectivity and further positioning Abuja as a leading investment destination. “Infrastructure is the backbone of any successful investment, and we are committed to ensuring seamless connectivity within the FCT,” he stated, emphasizing the administration’s commitment to creating a solid foundation for businesses to thrive.
Wike highlighted its importance in fostering a conducive environment for investment. Wike assured the audience that the safety of investments is a top priority, with ongoing collaborations between the FCT Administration and law enforcement agencies to enhance security across the Territory. He emphasized that the FCT is “open for business” and has streamlined its processes to facilitate ease of investment, with agencies such as the Abuja Investment Company Limited and Abuja Enterprise Agency offering support and guidance to investors.
Concluding his remarks, Wike reiterated the administration’s commitment to empowering small and medium-sized enterprises (SMEs), which he described as the backbone of Nigeria’s economy. Through initiatives providing access to funding, training, and other resources, the administration seeks to build a robust ecosystem that will drive economic growth. Wike encouraged investors to explore the diverse opportunities available in the FCT and pledged continued support for projects aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, positioning Abuja as a thriving hub for business and innovation.
In his keynote address, Governor Charles Soludo of Anambra State called for a renewed focus on sustainable investments in Nigeria, emphasizing the need for inclusive growth that benefits the entire population.
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“I am Nigerian, and since you made me Nigerian, the reason is that we must make this country one,” Soludo said. “We must fight for our country, and the government must provide jobs for the people. No matter how you think about globalization, populations are still confined within nation-states.”
Soludo pointed out that while foreign investments are important, not all are beneficial. “Not all investment is good,” he cautioned. “We must ensure that any investment coming into Nigeria is a win-win situation. Many come with proposals, but they don’t serve our long-term interests. We have to be strategic.”
The governor recalled his experience as a child witnessing the consolidation of Nigeria’s banking sector, which laid the groundwork for stronger local banks. He highlighted the need for Nigeria to empower local industries, particularly in sectors like manufacturing, which can generate sustainable jobs and reduce reliance on foreign imports.
“Look at the banking sector today foreign banks like Citibank have been in Nigeria for decades, but they are not expanding to rural areas because of their risk appetite,” Soludo explained. “However, Nigerian banks like UBA, Access Bank, and others have taken that bold step. They are willing to finance projects in every corner of the country.”
Soludo also emphasized the importance of investing in education, particularly in technical and vocational training. “We have deliberately implemented free quality education from primary to secondary levels in public schools. This is to ensure that we unleash the potential of our young people so they can contribute meaningfully to our economy.”
Addressing the audience, Soludo reiterated that the sustainability of Nigeria’s investments lies in empowering the people. “If we don’t give our youth the tools to participate in tomorrow’s economy, they will become a liability. The rich will not sleep peacefully if the poor are restless.”
In her earlier welcome address, Ambassador Maureen Tamuno, Group Managing Director and Chief Executive Officer of Abuja Investment Company Limited, stated that the summit was designed to showcase investment opportunities in the FCT and provide a platform for networking among local and international investors.
“I am confident that our carefully selected and distinguished panelists will offer valuable insights and thought-provoking ideas that will pave the way for economic prosperity for our company and participating investors,” she said. Tamuno expressed her belief that the discussions during the event would inspire participants to think bigger and push the boundaries of what is possible in business and investment.
