In its determination to boost Foreign Direct Investment (FDI) in the country, the Federal Government has concluded plans to introduce a new Visa regime in 2020.
Online reports by the United Nations Conference on Trade and Development (UNCTAD), as well as “Trading Economics”, show that FDI flows to Nigeria stood at $1.9 billion in 2018, even as it was said to have recorded a rise of $909.54 million in the second quarter of 2019.
The Comptroller-General of Immigration (CGI), Mr. Mohammad Babandede, who conveyed the federal government’s plan for a new Visa regime, said the move will serve as an incentive to foreigners wishing to invest in the country.
Babandede, who spoke at the end-of-year dinner and award night at the weekend, disclosed that the new policy will be unveiled by the Minister of Interior, Ogbeni Rauf Aregbesola before the end of the year.
“The e-visa policy will encourage investors to Nigeria, thereby generating Foreign Direct Investment for Nigeria and making Nigeria a most preferred destination through transparency in administration and facilitation of facilities by service,” the CGI said.
The immigration chief assured of transparency in the new regime, while noting that national security will not be compromised.