Minister Oduwol Addresses Nigeria's Investment Ecosystem Gaps

During a meeting in Abuja, Jumok Oduwol, the Minister of Industry, Trade, and Investment, admitted that gaps persist in Nigeria's investment ecosystem, as flagged by the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC). The meeting aimed to discuss the need for improvements in the country's investment climate.

Maryam Yusuf, head of the RMAFC, acknowledged progress but emphasized the need to address existing gaps. Enef Eken, chairman of RMAFC's investment monitoring committee, highlighted delays in company registration processes, warning that Nigeria risks losing valuable investments due to inefficiencies.

Oduwol noted that reforms are underway to enhance coordination among agencies involved in the investment process. RMAFC officials indicated a shift in focus to support policies that drive investment inflow and improve the overall investment climate, which is crucial for sustaining economic growth.

The meeting also addressed challenges affecting investment flow, including the need for clearer operational guidelines for export free zones.