Nigeria Introduces New Investor Visa With 5-Year Validity to Attract Foreign Investment
In a bid to boost foreign investment in Nigeria, the administration of President Goodluck Jonathan has introduced a new visa with a five-year validity to make it easier for foreign investors to invest in the country.
Speaking at the Fourth African-Ireland Economic Forum in Dublin, the Nigerian Ambassador to Ireland stated that the Federal Government has introduced this new visa to make it easier for genuine investors to travel to Nigeria without any visa hassles. The only condition attached to the five-year visa is that host countries should have a reciprocal approach when issuing visas to investors from Nigeria.
The new visa seeks to improve inflow of foreign investment to ensure speedier economic development of the country. Apart from extending the tenure, the Government has taken steps to ensure no unnecessary delays or barriers for applicants seeking this visa.
Highlighting the inadequacy of a six month or one year visa for those seeking to invest in the country, the Ambassador stated that the new policy will allow investors to stay as long as necessary to finalize their investments and invited investors from all over the world to consider investing money in Nigeria.
The Ambassador exhorted investors to focus on the tremendous potential in Africa and clarified that speculation about Nigeria and other Africa nations being unsafe and unsuitable for investments was completely unjustified. The Ambassador relied on traditional Nigerian proverbs to highlight the fact that investors should focus on the overall potential instead of challenges and other obstacles involved in investing in the country.
Speaking to more than 100 Nigerians from all walks of Irish society, the Ambassador indicated her keenness to promote trade between Ireland and Africa through establishment of mutually-beneficial partnerships