Nigeria has granted 12,000 Expatriate Quota licences to foreigners seeking to work in Nigeria whilst it has treated applications from 2,000 companies.
A statement issued by Sola Fasure, the Media Adviser to the Minister of Interior, Ogbeni Rauf Aregbesola, quoted his principal as making the disclosure while delivering his goodwill address titled; ‘That business may thrive in Kaduna’, on the Second day of the 6th Edition of the Annual Kaduna Economic Investment, KADINVEST 6.0 in Kaduna, Friday.
According to the Minister, “The Ministry from inception till date has handled 14,690 companies and granted 126,893 quota licences to expatriates. However, from August 2019 till date we have registered more than 2,000 companies while over 12,000 expatriates have been given permits to work in Nigeria.
“We now handle applications with dispatch and will encourage any firm or organisation with genuine need for expatriates to bring their applications. We shall accord it with the required courtesy. The Minister also reiterated the fact that Nigeria is still a good and profitable investment haven, even in the face of security challenges.
“In spite of the challenges we have faced, it might interest us to know that Nigeria is still an investor’s dream where there is abundant raw materials, highly skilled and affordable workforce and the largest market for goods and services in Africa. The return on investment has always been mouth-watering”, the Minister stated.
Aregbesola who commended the Kaduna State Government, Nigerian Investment Promotion Commission (NIPC) and the Nigerian Economic Summit Group (NESG) for organising this Summit and choosing the topic, ‘Towards a sustainable knowledge-based economy’, revealed that this year’s theme is a most fitting concept for the moment.
According to Aregbesola, there has been a paradigm shift from comparative advantage to competitiveness and knowledge and innovation will continue to drive business in the foreseeable future. He therefore asked Nigerian entrepreneurs to invest in knowledge, innovation and cutting edge technologies.
“Looking at the history of economic development, we can see that there was a quantum leap in economic production at the onset of Industrial Revolution circa 1760 in England, compared to what obtained in the feudal era. The introduction of machines and factory system that enabled mass production of goods unleashed economic prosperity on the industrialised nations such that in a period of 50 years, it had created a yawning gap between them and the societies still trapped in feudal productions.
Also at the event were; Deputy Governor of Kaduna State, Hadiza Sabuwa Balarabe; the Minister of State for Mines and Steel, Dr. Uche Ogah; Emir of Zazzau, Emir Ahmad Nuhu Bamalli; His Royal Highness, Sanusi Lamidi Sanusi; State Government officials, members of the diplomatic corps, security services chiefs, investors and other distinguished guests.