Rt. Hon. Benjamin Okezie Kalu, the Deputy Speaker of the House of Representatives, has affirmed the parliament’s commitment to amending existing laws to foster investor confidence and facilitate direct foreign investments in Nigeria. Speaking at the 64th birthday celebration of His Majesty, Emperor Naruhito of Japan, Kalu underscored the importance of leveraging diplomatic ties to attract more investments, particularly from Japan.
In a statement by his Chief Press Secretary, Mr. Levinus Nwabughiogu, Kalu expressed appreciation for the longstanding diplomatic relationship between Nigeria and Japan, emphasizing Nigeria’s receptiveness to foreign investments under the administration of President Bola Ahmed Tinubu. He highlighted the conducive environment created by the government to encourage foreign investors, stressing the need for Japan to capitalize on these opportunities.
Kalu emphasized the potential for technology transfer from Japan to Nigeria, particularly in value addition to primary products and innovation-driven productivity enhancements. He lauded Japan’s expertise in areas such as military assistance and communication technology, urging increased investment in Nigeria’s diverse sectors.
The Deputy Speaker assured that the parliament stands ready to address legislative barriers hindering foreign investments, affirming their commitment to refining laws to instill confidence in investors. He extended an invitation to Japan to explore investment opportunities in Nigeria, emphasizing the government’s determination to strengthen bilateral ties for mutual benefit.
Kalu emphasized the importance of strategic partnerships in addressing food insecurity, advocating for collaboration with Japan to enhance agricultural productivity and alleviate hunger in Nigeria.