Business

FG Moves to Protect Nigerian Investments in Angola

IBy Mudi Mohammed

LUANDA — The Federal Government has pledged to protect Nigerian-owned investments in Angola and strengthen support for Nigerians living and doing business in the country.

The Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, gave the assurance on Thursday during an inspection of the Cidade De Motores auto spare-parts market in Golf 2, Luanda, established by Nigerian auto parts dealers.

Odumegwu-Ojukwu, who was in Luanda for the 21st Extraordinary Session of the Assembly of Heads of State and Government of the African Union, said the facility demonstrated the entrepreneurial drive of Nigerians abroad.

“We are very proud of you, having seen the worth of the enormous investment you have put on ground. We do not want a situation where people will invest and later some phony stories would be told about their investment,” she said.

The minister said the protection of Nigerian businesses in Angola would be prioritised in future bilateral engagements, particularly at the next Nigeria-Angola Joint Commission.

She added that President Bola Ahmed Tinubu remained committed to the welfare of Nigerians abroad and that government was addressing challenges confronting them.

Odumegwu-Ojukwu, however, urged the traders to comply with Angolan laws and avoid actions that could damage Nigeria’s image. She also cautioned against ethnic discrimination in the management of the market.

“There should be no room for tribalism,” she said.

Earlier, the President of the United Auto Parts Dealers Association, Chuks Ukachi, said the market was established after Angolan authorities barred Nigerian traders from roadside trading, a development that left many out of business for nearly two years.

Ukachi said the facility was open to both Nigerians and Angolans and was aimed at creating opportunities while projecting a positive image of Nigeria.

“This is an open market; it is open for every Nigerian. In fact, it is for all of us,” he said.

The association appealed to the Federal Government for assistance in securing the market and protecting investments made by Nigerian entrepreneurs in Angola.

Also See

NIDEC 2026: FG Targets $20bn Diaspora Remittances for Jobs, Factories in Nigeria — Enikanolaiye

NewsWorth Media

UBA Launches Diaspora Banking Platform to Drive African Investment

NewsWorth Media

Nigeria’s Power Sector Gets Boost with ₦501bn Bond Issuance

NewsWorth Media

President Tinubu Announces Nigeria to Host UAE’s Investopia Africa – Signs Historic Economic Partnership with UAE

NewsWorth Media

ECOWAS Sets 2035 Target To End West Africa’s Multi-Billion Dollar Rice Import Dependency

NewsWorth Media

Nigeria Customs Launches New SOP to Regulate DDP Courier Operations

NewsWorth Media

This website uses cookies to improve User experience. Accept Learn More

Our Policies