Nigeria Reopening States to Foreign Investors as Regions Regain Economic Powers, Says Ajomale-McWord

.Customs backs subnational trade diplomacy, says reforms will position country as regional commerce hub

Michael Olugbode in Abuja

Nigeria is gradually returning to an era of stronger regional economies and greater state autonomy, creating unprecedented opportunities for direct foreign investment and economic partnerships with subnational governments, Founder of Global AfriDiplomats, Deji Ajomale-McWord, declared yesterday.

He said recent reforms in electricity, taxation and local government finances are reversing decades of over-centralisation and empowering states to emerge as independent engines of economic growth, industrialisation and international commerce.

Speaking at the Trade Commissioners’ Summit attended by diplomats, development partners, state officials and business leaders, Ajomale-McWord urged foreign governments, diplomatic missions and international investors to broaden their engagement beyond Abuja and establish direct partnerships with Nigerian states and regions.