Nigeria, St. Kitts and Nevis Explore Mutual Investment Ties
James Emejo in Abuja
Nigeria and St. Kitts and Nevis – a country made up of two islands in the Caribbean, have moved to explore mutual bilateral investment relations to boost their respective economies.
Former Chief Executive, St. Kitts Investment Promotion Agency (SKIPA), Roslyn Hazelle, said both countries stood to benefit from each other’s rich cultural and economic potential.
Speaking during an investment tour to Nigeria, she described the country as a fertile ground for investors adding that her country also offered immense opportunities for Nigerian investors.
Hazelle said St. Kitts and Nevis remained a stable society with a 98 per cent literacy rate, coupled with a strong currency benchmarked against the US dollar.
She told THISDAY, “Our dollar has been steady since the 1970s, and it is one US dollar to $2.70 of our dollar. It doesn’t go up; it doesn’t come down. Inflation doesn’t affect it. It’s completely tied to that. We also have tax incentives for persons who want to invest in St. Kitts. We also create what we call a very welcoming environment. And we have the education population that could support various components of investment.”
On his part, Chief Executive, Angel Global, Mr. Nwachukwu Okafor, the promoter of investment opportunities between both countries, said to further take the conversations forward, an investment conference had been scheduled to take place in Abuja in March 2025.
He said the event will bring prospective investors from St. Kitts and Nevis, the Bahamas and other Caribbean countries to explore the opportunities in Nigeria.
He said, “What we are trying to do is to bring investments from St. Kitts and Nevis, and take investments from Nigeria. Because come to think of it, the people on the islands are our people that the white man took and dropped them there hoping that they would die, but God in His mercy, enlarged them and now they are living in paradise. You can see how beautiful their place is. So, it’s a symbiotic relationship.”
