Nigerian diplomats engage global partners at UNGA79

Nigerian envoys and businesses, which included the Consul-General of Nigeria in New York, Ambassador Abubakar Jidda, have rallied investors and donors to boost sustainable investments, grants and interventions in the country at the United Nation General Assembly (UNGA) 79 Forum for global investors.

They took turn to highlight the abundant Nigeria’s investment opportunities at a high level roundtable interventions which was held at Nigeria House in New York.

Ambassador Jidda, in his welcome address at the event, said Nigeria’s strategic location, abundant resources, dynamic population and commitment to reforms have positioned it as a prime destination for investors.

According to him, Nigeria is not just an opportunity but a gateway to the future of trade and investment in Africa adding that ongoing reforms under President Bola Tinubu are aimed to create a favourable environment for investments.

The envoy encouraged participants to leverage the roundtable discussions to forge partnerships that could lead to transformative projects across various sectors including agriculture, infrastructure, technology, healthcare and renewable energy.

He said the discussions offered a unique opportunity to build partnerships that could drive sustainable transformation, encouraging participants to take advantage of the roundtable to share credible information to unlock opportunities in one of the most promising and lucrative markets in Africa.

Acting Permanent Representative of Nigeria to the UN, Mr Syndoph Endoni, expressed worries that Africa’s Foreign Direct Investment (FDI) accounted for only 3.5 percent of global FDIs in 2024 and declining by three per cent to 53 billion dollars in 2023.

“It is against this backdrop and necessity to significantly boost FDI and ease of doing business in Nigeria that President Bola Ahmed Tinubu, upon assumption of office, established a Presidential Committee on Review of Fiscal Policy and Tax Reform.

“This position also informed Nigeria’s leadership on the need for the adoption of a UN Framework Convention on International Tax Cooperation to ensure inclusivity in global tax decision making and protection of African economies from shortchange and tax evasion.

“As we speak, Nigeria is spearheading the discussions at the UN on the adoption of a UN Framework Convention on International Tax Cooperation, that about a month ago the UN unanimously adopted the Terms of Reference,” he said.

The Nigerian diplomat also said being a fossil fuel-dependent economy, Nigeria was seeking some guaranties from the developed countries for transfer of knowledge in the transition to green energy that will enable the country to be economically viable.

The Executive Vice Chairman/CEO of Merited Negotiating Consulting, Kunle Yusuff, convener of the event, said the roundtable served as a strategic platform for fostering global partnerships aimed at accelerating sustainable investments, grant accessibility and intervention support.

Yusuff added that the roundtable was centered on partnership, synergy, cooperation, financing, and co-funding for sustainable investments, grants and interventions targeting Sustainable Development Goals, climate change, green environments, agribusiness, youth development, gender mainstreaming, and capacity building for future generations.

He explained that the event had also enhanced relationships with development partners and donor agencies across the globe, as well as an avenue to highlight Nigeria’s potential as a strategic investment destination.

“Any development intervention that advances Nigeria is a step toward advancing 20 per cent of the global Black population. With the largest population and the biggest market in Africa, Nigeria offers a unique opportunity for development interventions. The government’s bold economic liberalization efforts have positioned the country as a lucrative hub for both domestic and international investors, particularly in West and Central Africa,” Yusuf said.

He said the success of 2023 event established key partnerships with the CEO Summit, Liberty University, America Asia Africa Consulting Cooperation, Satnaam Development Contracting Group LLC, The Phoenix Group, Green Yelwa Organic Fertilizer, USA, and Strategic Groups, USA.

Kebbi State Governor, Nasir Idris, who made a presentation on the investment opportunities in the state, highlighted the rich agricultural potential of the state and assured of the friendly investment climate for prospective investors.

Idris emphasized the importance of AI grants and women’s empowerment for Nigeria’s sustainable development assuring to make the state a meeting point for AI, leveraging it for agriculture production.

Some of the participating organisations at the event included the Governments of Nasarawa and Ogun States, the House of Representatives Committee  on Foreign Affairs, Bank of Industry, and NACCIMA.

Others were UN Institute for Training and Research; UN Satellite Centre; the Commonwealth; the Organisation of African, Caribbean and Pacific states; AI Grant USA; Xlink Resources Group USA; Inter Group Co. Ltd, Thailand; EOS Alliance; and Blockchain Capital.