Oriarehu Bonny

APM Terminals Nigeria has highlighted continuity and consistency in policy regulations as key to providing an enabling environment for foreign investment to flow into Nigeria.

The Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke, stated this at the 31st annual Nigerian Economic Summit held in Abuja.

At a CEO Roundtable panel discussion on the Future of Infrastructure Funding in Nigeria, Klinke described Nigeria’s inclusion in every global investor’s portfolio as crucial to their long-term strategy for Africa.

He said, “What investors are concerned about is long term predictability; there must be policies in place that would not change. There is a lot of positivity around the reforms being taken by the government. However, there has to be the right regulatory environment for predictability that guarantees that the rules will not change.

“The same goes for the commercial terms of these investments. When you operate in a volatile inflation and forex environment like Nigeria, investors understand that but there has to be assurance that the regulation in place allows for such volatility by enabling investors to adjust tariffs when inflation runs high. If that is not in place, that it becomes a huge hindrance to business.”

Earlier, Nigeria’s Vice President, His Excellency, Kashim Shettima, during the opening ceremony had assured delegates to the summit that while Nigeria’s challenges were daunting, they were not insurmountable.

He said, “Every reform we have introduced has emerged from deep reflection and the courage to act in the interest of the nation. Our ticket to achieve inclusive and lasting prosperity is our series of sound policies, strong partnerships and the commitment of the private sector.”

Director-General of the Infrastructure Concession Regulatory Commission, Jobson Ewalefoh, described as unanimous the reality that political risk was Nigeria’s biggest hindrance to investors.

He said, “The discussion before us goes beyond the funding of physical assets. Our infrastructure gap represents a significant challenge and transformative opportunity. Public resources can no longer support the transformation we envisage. This is exactly where ICRC serves as a catalyst; to regulate and oversee PPE projects.”