Dutch Good Growth Fund (DGGF)’s Post

𝐓𝐡𝐞 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐜𝐞 𝐨𝐟 𝐃𝐮𝐭𝐜𝐡-𝐍𝐢𝐠𝐞𝐫𝐢𝐚𝐧 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐜𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 Discover the impact of Dutch investments in Nigeria in a recent article featuring an interview with FMO CEO Michael Jongeneel (he/him). He discusses a $295 million loan led by FMO for Access Bank, emphasizing the strategic importance of continuous investment in fostering economic ties between the Netherlands and Nigeria. He also mentions the 'Dutch Desk' in Nigeria that we are proud to have set up in collaboration with Access Bank Plc. He underscores the importance of having a local presence to benefit both entrepreneurs in Nigeria and the Dutch economy. #DutchDesk #Nigeria #GlobalBusiness

Itana, Nigeria’s first licensed digital economic zone management company, and Africa Finance Corporation (AFC), have agreed to jointly develop the first digital economic zone in Africa designed for global and Pan-African technology, finance and service-based businesses to operate and scale with ease across Africa, unlocking the continent’s digital economy. The formalisation of this partnership took place in front of global government and business leaders, at the Global Africa Business Initiative (GABI), on the sidelines of the ongoing United Nations General Assembly (UNGA) in New York. Itana, co-founded by CEO Luqman Edu, COO Coco Liu, and Iyinoluwa Aboyeji of Future Africa, is developing a digital economic zone in Lagos, Nigeria. This zone is designed for businesses in tech, finance, and services seeking to expand across Africa.Companies that register within the Itana free zone will benefit from exemptions such as corporate income tax and value-added tax, along with the freedom to process payments in any currency and avoid import duties on physical products.. AFC will lead the financing of the first phase of the Itana project, which is valued at $100 million The corporation is working with Itana alongside partners such as Future Africa, PwC Nigeria, and Charter Cities Institute as part of the Initiative for the Promotion of Digital Economic Zones in Nigeria (DiFZIN). #UNGA77 #UN

🌍 Harnessing Public-Private Partnerships for Nigeria's Economic Growth 🚀 As Nigeria looks to accelerate its industrialization and economic development, leveraging public-private partnerships (PPPs) can be a game-changer in the federal and state levels of economic growth. Why PPPs? Boosting Foreign Direct Investment (FDI): PPPs attract significant FDI by providing a stable and predictable investment environment. In 2023 alone, Nigeria saw about 20% increase in FDI inflows, reaching about $5 billion, largely due to successful PPP initiatives in key sectors. Infrastructure Development: PPPs facilitate the construction of vital infrastructure such as roads, bridges, and power plants. This not only improves connectivity but also reduces logistics costs for businesses, enhancing competitiveness. Job Creation: With every successful PPP project, thousands of jobs are created directly and indirectly. This spurs economic activity across various sectors and empowers local communities. Technology Transfer and Innovation: Collaborations between public entities and private firms bring advanced technologies and innovative solutions to Nigeria. This fosters knowledge-sharing and enhances the country's technological capabilities. Key Statistics: In 2023, PPPs accounted for 30% of infrastructure investments in Nigeria, driving sustainable development and inclusive growth. The manufacturing sector, supported by PPPs, saw a 15% increase in production capacity, contributing significantly to GDP growth. Looking Ahead: By 2030, Nigeria aims to triple its industrial output through strategic PPPs, paving the way for a robust, diversified economy. Together, we can build a future where innovation flourishes, infrastructure thrives, and prosperity is shared by all. Having worked on a few PPPs, I want to give a shoutout to my elders who I believe might want to look into this matter, propagate this gospel by including it in their headlines and take bold actions about it that I'd hope to collaborate on. Ndubuisi Ekekwe Mr. Peter Obi Reno Omokri Dr. Elijah Akpan Senator Babafemi Ojudu, CON Dino Melaye Sen. Oluremi Tinubu Atiku Abubakar Let's collaborate and catalyze Nigeria's economic transformation through impactful public-private partnerships. 🌟 #PPP #EconomicGrowth #InfrastructureDevelopment #FDI #Nigeria #Innovation #IndustryRevamp #Collaboration

Nigeria's economy has seen a significant boost in foreign investment in Q1 2024, with a 210.16% increase from Q4 2023 and a 198.06% increase from Q1 2023. The total capital importation stood at $3.37 billion, indicating growing confidence in the country's economy. The top 10 sectors that attracted the most foreign investment in Q1 2024 include banking, trading, telecommunications, production/manufacturing, IT services, shares (capital market), financing, electrical, agriculture, and transport. This encouraging trend is a testament to the potential that Nigeria offers to investors and business leaders. And for those looking to tap into this potential, Spotlight Nigeria provides that opportunity. As the foremost forum in Europe for companies, business leaders, and investors interested in Nigeria, Spotlight Nigeria offers a platform to discuss concrete business and project opportunities, network with key stakeholders, and gain visibility and access to potential business partners. Join us at the 7th edition of Spotlight Nigeria and be part of the conversation that's shaping the future of business in Nigeria. Visit https://lnkd.in/dXa3ycpu to register for Spotlight Nigeria 2024. For further enquiries, visit our website at www.friendsofnigeria.net or contact us at [email protected] Read more on the news: https://lnkd.in/dPhHjQFc #SNFEvent2024 #spotlightnigeria #businnessconnections #industryleaders #industryevent #businssforum #parisevent #nigeria #europe #investment #business

This week’s edition of the Communiqué newsletter analysed the blueprint shared by Nigeria’s minister of arts, culture, and the creative economy. The plan includes: 1. A creative hub in all 36 states of the country. 2. A 20,000-capacity National Entertainment Center. 3. A Creative Economy Development Fund, among other things. But David Adeleke has a few thoughts about this. Some of which include: 1. The 2030 timeline is as unrealistic as it gets. 2. There are too many capital intensive infrastructure projects that rely on the government for execution. 3. The push for a creative economy fund is perhaps the most feasible part of this plan in the short-term. Read all about it here: https://lnkd.in/dsfyXq2P

Bridging the Funding Gap for Nigeria's Engine of Growth: SMEs SMEs are crucial for Nigeria's economic development, but access to finance remains a hurdle. This article explores government programs, international support, alternative financing options, and recommendations to empower SMEs.

📢 **President Tinubu's Vision for Nigeria: Key Highlights from His Address to the Nation** This morning, President Bola Tinubu laid out a comprehensive plan to steer Nigeria towards economic stability and growth. Here are the main points from his address: 1. **Economic Reforms**: Removal of fuel subsidies and streamlining the foreign exchange system to stabilize the economy and redirect funds to more productive uses. 2. **Debt Reduction**: An ambitious plan to reduce Nigeria's debt from 97% to 63% of GDP through prudent fiscal policies and better debt management. 3. **Support for Businesses**: A N75 billion fund for 75 manufacturing enterprises and a N125 billion initiative to energize MSMEs and start-ups. 4. **Food Security**: Measures to ensure food affordability, including the release of 200,000 metric tonnes of grains and support for farmers with fertilizers and seedlings. 5. **Infrastructure Development**: Approval of an Infrastructure Support Fund and a N100 billion investment in 3,000 CNG-fueled buses for mass transit. 6. **Social Welfare**: Enhanced social security measures to support the most vulnerable citizens. 7. **Dialogue and Governance**: A call for dialogue with protesters and a reaffirmation of commitment to democratic governance. 8. **Fiscal Policies and Tax Reforms**: Four Executive Orders to make fiscal policies more business-friendly and reduce the tax burden. 9. **Human Capital Development**: Focus on improving education and healthcare to develop a skilled and healthy workforce. 10. **Information Technology**: Plans to enhance the IT sector, leveraging digital innovations for economic growth. 11. **Future Economic Vision**: Confidence in overcoming current challenges and using savings from subsidy removal for beneficial projects. These initiatives reflect a strategic approach to addressing Nigeria's pressing issues and laying the groundwork for sustainable development. 🌍💼📈 #Nigeria #EconomicReforms #DebtReduction #BusinessSupport #FoodSecurity #Infrastructure #SocialWelfare #Governance #FiscalPolicies #HumanCapital #Technology #Development Sources: - [Pulse Nigeria] - [Punch] - [The Nation]

🌟 Nigeria EU Business Forum: A Catalyst for Investment and Development 🌟 The Nigeria EU Business Forum (NEUBF) in Abuja highlighted key initiatives and investment opportunities, showcasing the strong commitment to bolstering economic ties between Nigeria and the European Union. Key Highlights: 🔹 Confidence in the Nigerian Economy: Discussions on attracting Foreign Direct Investment (FDI) emphasized the need for a predictable and transparent investment climate. Investment agreements like SIFA and preferential trade policies (AfCFTA/GTI, EPA) were highlighted as vital tools. 🔹 EU Flagship Initiatives: A digital economic package worth over €200 million aims to enhance digitalization, expand mobile networks, and support tech-based private sector development. Renewable energy projects and sustainable agricultural value chains are also key focuses. 🔹 Digitalisation Leapfrog: Nigeria’s digital sector, despite economic challenges, shows dynamic growth potential. With a youthful population, the session explored how digitalization could drive economic recovery and create employment. 🔹 Healthy Economies Thrive: Addressing healthcare challenges, the EU’s €1 billion initiative aims to boost local pharmaceutical and health technology manufacturing in Africa, driving sustainable economic growth. 🔹 Investment Facilitation and Trade Relations: Strengthening trade relations and collaboration in digital trade and e-commerce were emphasized, recognizing Nigeria as a key WTO partner. 🔹 Agriculture to Agribusiness: With agriculture employing 35% of Nigeria’s population, the focus is on transforming the sector through increased productivity and value addition, addressing food insecurity, and creating employment. The forum underscored the vast potential of the Nigerian market, urging stakeholders to seize the opportunity to invest in Nigeria now. 🚀 Let’s drive growth and development together! 🚀 #NEUBF #NigeriaEU #InvestmentOpportunities #EconomicDevelopment #Digitalisation #RenewableEnergy #Agribusiness #Healthcare #TradeRelations #FDI

Thinking about expanding your business into Nigeria?  Here’s what makes Nigeria so attractive: 1.   Large and Growing Market: With a booming population, Nigeria offers vast potential for businesses of all sizes. 2.   Abundant Resources: Nigeria is rich in assets waiting to be harnessed from fertile land to natural resources. 3.   Government Initiatives: The Government is actively fostering a business-friendly environment. 4.   Thriving Tech Sector: Innovation is taking root, with a young and tech-savvy population driving progress. 5.   Entrepreneurial Spirit: Nigerians are known for their hustle and their drive to succeed. But of course, there are challenges to consider: 1.   Infrastructure Deficits: Power, transportation, and logistics require ongoing investment. 2.   Access to Capital: Financing can be a hurdle, but new opportunities are emerging. 3.   Complex Regulations: Navigating the regulatory landscape can be challenging. 4.   Security Concerns: Certain areas require security vigilance. 5.   Corruption: Transparency efforts are underway, but there's still work to be done. Ready to learn more? At the Doing Business in Nigeria Conference on April 13th, 2024, you'll hear Mitchell Elegbe, a leading Nigerian entrepreneur, unpack the realities of the Nigerian market. Join us at the Doing Business in Nigeria Conference and gain the insights you need to make informed decisions. Don't miss out - register today! Register through this link https://lnkd.in/dxaz2NfB #FutureForwardBusiness #InnovateForImpact #DBNC2024 #DoingBusinessinNigeria

Understanding the Plight of Nigeria's SME Sector The SME sector in Nigeria faces significant challenges, exacerbated by a lack of government support and disproportionate pressure. SMEs represent 96% of businesses and 90% of employment in Nigeria, compared to 90% of businesses but only 50% of job employment globally. Nigerian SMEs lack essential resources, particularly funding and government incentives, hindering their growth potential. This situation stifles innovation and economic growth, impacting both individual businesses and the broader economy. To address these challenges, a multi-pronged approach is needed, including policy reform, financial support, and capacity-building initiatives. Governments must prioritize SME-friendly policies and regulatory frameworks, while also enhancing financial literacy and providing access to affordable financing. Additionally, fostering a culture of innovation and entrepreneurship through education and mentorship programs is essential for long-term success. By addressing these systemic barriers, Nigeria can unlock the full potential of its SME sector and pave the way for sustainable economic development.