November 21, (THEWILL) – The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), has said that Nigerian laws provide one of the best legal protection for foreign investors worldwide.
Malami disclosed this in Abuja on Monday, when the leadership of the Rice Farmers’ Association of Nigeria (RIFAN) along with the visiting delegation from Egypt National Service Project Authority (NSPA), Cairo, led by the Egyptian ambassador, Moustafa Awad, paid him a courtesy visit.
The AGF in a statement issued by his Special Assistant on Media and Public Relations, Dr. Umar Gwandu, said the 1999 Constitution of the Federal Republic of Nigeria, protects all investors, citizens and foreigners alike against any form of exploitation.
He noted that foreigners can register and incorporate companies under the Companies and Allied Matters Act, 2020.
The Minister appreciated members of the Rice Farmers Association of Nigeria (RIFAN) and Egyptian National Service Projects Authority’s delegation, on the investment drive to boost food security and enhance the economic fortunes of the two nations.
Malami stated that under the Nigerian Investment Promotion Act, investors are allowed to invest and participate in the operation of any legal enterprise approved by the law. He expressed optimism about the project and notified the Egyptian delegation that the Government of President Muhammadu Buhari, has been unparalleled in its commitment towards making Nigeria a haven for investment through infrastructural development, foreign direct investment, and ease of doing business initiatives.
Malami reiterated the Buhari-led administration’s commitment to protecting and promoting the inalienable fundamental human rights to life and liberty, including the right to own property among others.
He emphasised that the African Continental Free Trade Area Agreement (AfCFTA) was expected to progressively eliminate tariffs on intra-Africa trade, making it easier for African businesses to trade within the continent and benefit from the growing African market.
In their separate remarks, the Head of National Service Project Authority (NSPA), Cairo, General Walid Yehia Soliman Morsy and the Egyptian ambassador, Moustafa Awad, noted that Egypt has a long-standing relationship with Nigeria, and hope that such mutually beneficial bilateral engagements will continue to make the ties between the two nations stronger.
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