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Nigerian Laws Protect Foreign Investment – Malamy

The Attorney General of the Federation, AGF, and the Minister of Justice, Abubakar Malamy, explained that Nigerian laws provide one of the best legal protections for foreign investors in the world.

Malamy, San, made the assertion on Monday when he received the leadership of the Nigerian Rice Growers Association (REFAN) with the visiting delegation from Egypt’s National Service Project Authority (NSPA), Cairo, headed by Egyptian Ambassador Mostafa Awad.

This was stated by Malamie Special Assistant for Information and Public Relations, Dr Omar Jibrilo Gwandu in a statement issued to reporters in Abuja.

According to the statement, Mallami said the 1999 Constitution of the Federal Republic of Nigeria provides protection to all investors, citizens and foreigners alike against any form of exploitation.

He indicated that foreigners are allowed to register and establish companies under the Companies and Related Matters Law of 2020 without any hindrance.

The minister praised the members of the Nigerian Rice Growers Association (Revan) and the delegation of the Egyptian National Service Projects Authority to Nigeria for the investment campaign to enhance food security and enhance the economic wealth of the two countries.

Malamy stated that under the Nigerian Investment Promotion Act, investors are allowed to invest and participate in the operation of any legal venture approved under the Act.

The Attorney General of the Federation expressed optimism about the project and told the Egyptian delegation that the government of President Muhammadu Buhari is unparalleled in its commitment to making Nigeria a haven for investment through infrastructure development, foreign direct investment and ease of doing business initiatives. .

Mallamy reiterated the Buhari-led administration’s commitment to protecting and promoting the inalienable basic human rights to life, including the right to property and others.

The Minister assured the delegation that they had absolutely nothing to fear in their choice to invest in the Nigerian rice sector, and informed them that Nigerian laws, institutions and judicial administrative systems guarantee the protection of these investments.

The Minister stressed the fact that the African Continental Free Trade Area Agreement (AfCFTA) is expected to phase out tariffs on intra-African trade, making it easier for African companies to trade within the continent and tap into the growing African market.

In separate statements, the head of the National Service Project in Cairo, Major General Walid Yahya Suleiman Morsi, and Egyptian Ambassador Mustafa Awad indicated that Egypt has a long-term relationship with Nigeria in the hope that these mutually beneficial bilateral engagements will continue. Strengthening ties by consolidating the economy and trade between the two countries.

Nigerian Laws Protect Foreign Investment – Malamy

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