Delegate of German Industry and Commerce, Katharina Felgenhauer has stated that energy shortage, poor infrastructure and other factors are discouraging German investors from investing in Nigeria.
Katherina, while speaking to Tribune Online on Thursday, also identified forex restrictions and ease of doing business as challenges chasing investors away from the country.
Meanwhile, the Delegate German stated all hands must be on deck to arrest all these issues to make the country investment-friendly.
She explained that Nigeria is noted for good virtues as the size of the economy, talents and investment destination.
The Delegate expressed optimism about supporting investment decisions in the country; hence, the attraction of more German industries in the country.
“We cannot shy away from the challenges confronting German investors in the country.
“The challenges are not in any way new. They are energy shortage and energy supply as it affects us as people. Infrastructural deficit Forex restriction, and ease of doing business.
“In order to arrest these issues, we must make sure that every individual in the value chain put their hands on deck.
“Speaking about the challenges is not enough without talking about the country’s potential such as the size of the economy, talents, and investment destination.
“We want to support investment decisions in Nigeria in order to ensure that more industries are attracted to Nigeria,” Katherina said.
While speaking on the upcoming West African Clean Energy & Environment (WACEE) trade fair, the delegate said it is aimed at providing a platform for power providers, technology suppliers, investors, industry experts as well as political and economic decision-makers to ensure sustainable development of West Africa’s energy and environmental ecosystem.
Katherina added that the trade fair would showcase products and innovations to an international business clientele, raise awareness of the company and projects, as well as expand the business network.
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