The UK government says it is working to ensure Nigeria becomes more competitive to attract investments.
Mr Ben Llewelyn-Jones, British Deputy High Commissioner, said this in a statement when Prof. Chidiebere Onyia, Managing Director, UK Nigeria Infrastructure Advisory Facility (UKNIAF), paid him a visit in Lagos.
The statement said the visit was to discuss UKNIAF’s work on energy, infrastructure financing and roads.
He noted that the country must have a competitive edge in order to attract investments.
“We live in a competitive world where investors are looking for a location that provides adequate return on investments.
“It is important, therefore, to make Nigeria as competitive as possible to attract those investments. There is a lot of goodwill, effort and application; consequently, we must work with the Nigerian leadership while also highlighting this to potential investors.
“This is one of the UKNIAF’s key component areas which is infrastructure finance,” he said.
He noted that data compilation was critical for regulators and investors so as to comprehend the impact of policy.
Onyia also said climate change should be considered important and not underestimated.
“The UKNIAF’s effort to assist the regulator in developing evidence based regulatory practices are critical in raising climate awareness and will go some way to aligning the Federal Government’s priorities with climate smart principles.
“Looking at government’s priorities through the lens of climate sensitivity do not preclude seeing the broader issues that require attention such as bank ability, efficiency and access.
“Data is always critical for regulators and investors and understanding the impact of policy and allowing data to inform predictable regulation is vital,” he said.
The UKNAIF is a UK Aid funded demand led technical assistance programme that helps the federal government deliver socially inclusive, climate smart infrastructure.
