Nigeria has intensified its engagement with major international development partners in a renewed effort to attract foreign investments and strengthen its economic growth framework.
This follows a high-level bilateral meeting between officials of the Federal Ministry of Finance and representatives of the Japan International Cooperation Agency (JICA) and the Multilateral Investment Guarantee Agency (MIGA), held on the sidelines of the ongoing World Bank Group and IMF Annual Meetings in Washington D.C.
In a statement on Tuesday signed by Mohammed Manga, FCAI, Director of Information and Public Relations, the ministry disclosed that the discussions focused on expanding cooperation and supporting Nigeria’s drive for economic diversification and sustainable development.
It reads: “Nigeria has taken a significant step towards deepening its economic partnership with international development agencies, following a high-level bilateral meeting between the Federal Ministry of Finance and representatives of the Japan International Cooperation Agency (JICA), and the Multilateral Investment Guarantee Agency (MIGA).
“The meeting, which took place yesterday on the sidelines of the ongoing World Bank Group and IMF Annual Meetings in Washington D.C., was attended by the Honourable Minister of State for Finance, Dr Doris Uzoka-Anite and other members of the Nigerian delegation.
“During the meeting, the parties engaged in discussions focused on exploring opportunities to further support Nigeria in attracting Foreign Direct Investments (FDI) and strengthening the current pipeline projects.
“The Nigerian Government reiterated its commitment to leveraging international partnerships to drive economic growth and development, while JICA and MIGA expressed their continued support for Nigeria’s development agenda.”
The ministry noted that the discussions reaffirmed the strong confidence of international partners in Nigeria’s economic reform agenda and the potential of ongoing structural initiatives to stimulate sustainable growth.
According to the statement, the collaboration aims to unlock new investment opportunities and support key national projects in sectors such as infrastructure, power, manufacturing, and trade.
It added that JICA and MIGA have shown interest in expanding their partnership with Nigeria in areas that will enhance private sector participation, promote inclusive growth, and improve the country’s investment climate.