FG Gets Kudos For Establishing Investment Ministry

President of Nigeria-Vietnam Chamber of Commerce and Industry (NVCCI) Mr Oye Akinsemoyin, yesterday lauded the Federal Government on the newly created Ministry of Trade And Investment.

Akinsemoyin told newsmen in Lagos that the initiative was a “step in the right direction” toward the realisation of the country’s Vision 20-2020.

“The newly created Ministry is in\ line with Mr President’s agenda of quick economic turnaround programme. It is meant to underpin and operationalise the economic transformation agenda of the president.

“Government can now use the machinery of the Ministry to promote trade and investment with other countries of the world,’’ he said.

Akinsemoyin expressed optimism that with the Ministry in place, homemade products would easily access foreign markets and Nigeria would achieve balanced trade with other nations. He urged the Ministry and other relevant agencies to immediately evolve programmes aimed at repositioning Nigerian products for foreign markets.

He also urged the Ministry to urgently come up with a mechanism that would make Nigerians in Diaspora access and patronize their home products.

Akinsemoyin said there was a lot to be benefitted economically, if Nigerians in Diaspora were encouraged to invest in their country.

“Nigeria must now be able to increase its markets, by going proactively and make its products available in international markets. “For instance, Volume of Trade between Vietnam and Nigeria presently stands at about 200 million dollars, much more in favour of Vietnam,’’ he said. Akinsomoyin advised the Ministry to work closely with the Chamber of Commerce and Industries and other stakeholders in promoting the country’s trade and investment opportunities.