News Column

U.S. Commerce Scribe, Elumelu, Seek More U.S-Nigeria Investments

May 22, 2014

Business leaders were on Wednesday in Lagos enjoined to seek better investment relations between the U.S. and Nigeria.

The gathering was part of a trade visit by U.S. Secretary of Commerce, Penny Pritzker, who is leading 20 American companies on an Energy Business Development trade mission to Ghana and Nigeria.

Pritzker assured the gathering that American companies would invest in countries that observe the rule of law, follow ethical standards and have good work environments.

According to her, "Nigeria needs to take the tough steps that allow businesses to truly thrive. Our companies want to do business in countries that follow the rule of law, maintain ethical standards, abide by workplace safety, encourage workforce training and protect intellectual property."

She stressed that businesses must operate freely, devoid of unnecessary regulation, government interference and corruption stating that "these are the conditions that will increase confidence among international and local business leaders and encourage further investments in Nigeria.

"I believe that together we can, must, and will move toward strengthening our security, promote democracy, spur more trade, investment and economic opportunity to benefit Nigerian citizens," she said.

For Tony Elumelu, Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, who spoke on behalf of the private sector, "while the Nigerian people are proud that our oil is helping to power the biggest economies in the world, we are about so much more than oil resources, we are about agriculture".

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Source: AllAfrica

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