Attracting Foreign Investors: Nigeria’s Promise of Lucrative Returns and Forex Repatriation

The Nigerian government is making moves to entice foreign investors with a pledge of hassle-free access to forex repatriation and the potential for exceptional return on investment (ROI).
In a recent meeting with a Mexican delegation in Abuja, Stella Okotete, the Executive Director of Business Development at the Nigeria Export-Import Bank (NEXIM), emphasised the government’s dedication to facilitating seamless repatriation of foreign earnings.
She assured the Mexican delegation that they would have 100% access to their foreign exchange for repatriation, highlighting the vast export opportunities in Nigeria, particularly in the non-oil sector.
Okotete also underlined the potential for lucrative ROI in Nigeria, citing figures ranging from seven to 30%. She asserted that Nigeria offers some of the highest returns on investment compared to anywhere else.
During the meeting, Nigeria’s untapped potential in mining and rubber production was showcased as a prime area for potential partnerships. Okotete specifically mentioned the automotive industry’s demand for spare parts and expressed a desire to attract Mexican businesses to invest in rubber production, with the aim of positioning Nigeria as a major player in tyre manufacturing.
Dr. Heriberto Garcia Cortes, President of Seccion International Para Africa, acknowledged Nigeria’s significant economic prowess, stating that Nigerian businesses and exporters could greatly benefit from Mexico’s $1.4 trillion economy.
He stressed the need to identify and capitalise on business opportunities in both Nigeria and Mexico, while also expressing the readiness of Mexican businesses to engage in formal relationships to promote businesses in Mexico.
Both parties agreed to develop a “workable template/framework” towards trade relations with a specific focus on the agro-allied and solid minerals sectors.
The move to attract foreign investors to Nigeria holds great potential for boosting the country’s economy and fostering partnerships that can be mutually beneficial for both Nigeria and Mexico. This initiative also showcases Nigeria’s commitment to creating an environment where foreign investors can thrive and contribute to the country’s economic growth.