Nigerian Foreign Minister Geoffrey Onyeama: Now is a good time to invest in Nigeria

DUBAI, 3 December 2021 – Nigerian Foreign Minister Geoffrey Onyeama on Friday underlined the significance of Nigeria’s participation in Expo 2020 Dubai – the first World Expo to be held in the Middle East, Africa and South Asia (MEASA) region – as an opportunity to showcase the country’s business and investment potential to the world.

“Nigeria has one of the fastest [growing] populations in the world. By the year 2050, it will be the third largest country in the world so this is a good time for any investor to invest in Nigeria with a view to reap the benefits of such a large country. Moreover, investing in Nigeria will give you the opportunity to reach out to the rest of Africa,” he said.

“It’s important that we show solidarity with the UAE. Our participation in Expo 2020 Dubai is also an opportunity to showcase our culture and the business potentials of Nigeria. Expo is about the past, present and future, so it presents an opportunity to let people know where we are currently and where we are headed.”

Onyeama was speaking during a tour of the Nigeria Pavilion, with Nigerian President Muhammadu Buhari, accompanied by His Excellency Sheikh Nahayan Mabarak Al Nahayan, UAE Minister of Tolerance and Coexistence and Commissioner General of Expo 2020 Dubai and Her Excellency Reem Al Hashimy, UAE Minister of State for International Cooperation and Director General of Expo 2020 Dubai, as part of the celebrations of Nigeria’s Expo 2020 National Day.

Onyeama also noted that the African Continental Free Trade Area (AfCFTA) agreement has created the largest free trade area in the world, measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries, with a combined gross domestic product (GDP) valued at USD 3.4 trillion.

Onyeama said: “We believe that participating in Expo presents an opportunity for the world to know more about Africa, and to see the potential of Africa.”

The Nigeria Pavilion at Expo 2020 is located in the Opportunity District. Under the theme ‘Rising in Value’, it sheds light on the creative and technology sectors driving the youth and future of the country and highlights investment opportunities in key sectors such as agriculture, manufacturing, technology and creative industries.

Earlier on Friday, Nigeria celebrated its Expo 2020 National Day at Al Wasl Plaza with performances by the National Troupe of Nigeria and award-winning Afropop singer-songwriter Teni.