Nigeria intends to strengthen its investment ties with St. Kitts and Nevis, focusing on creating international trade relations. Key figures like Roslyn Hazelle and Barr. Nwachukwu Okafor emphasize the economic stability, investment advantages, and the value of dual citizenship offered by St. Kitts and Nevis. A summit in March aims to showcase investment opportunities across both regions.
Nigeria is set to enhance its investment relationships with St. Kitts and Nevis, a Caribbean island nation, as per discussions shared by Roslyn Hazelle, the former Chief Executive Officer of the St. Kitts Investment Promotion Agency (SKIPA). During an event dedicated to promoting business opportunities in St. Kitts and Nevis, Hazelle highlighted the country’s English-speaking population, which numbers around 52,000, along with a high literacy rate of approximately 90 percent. She emphasized the educated workforce available for potential investors. Hazelle further demonstrated the economic stability of St. Kitts and Nevis, noting its stable currency, the Caribbean dollar, which is approximately 2 Caribbean dollars and 7 cents for each US dollar. In addition, she pointed out the absence of personal income tax, highlighting that residents instead contribute to social security based on their salary levels. Hazelle also mentioned advantages such as a transparent financial services system and exemption from import duties, which could entice Nigerian investors. Barrister Nwachukwu Okafor, Chief Executive Officer of Angel Global, clarified that this initiative aims to build a reciprocal trade relationship rather than diverting investments from Nigeria. He announced an upcoming summit in March, aimed at highlighting investment opportunities between Nigeria and St. Kitts and Nevis, alongside other Caribbean nations. He added that investing in St. Kitts and Nevis can provide Nigerians with access to over 150 countries worldwide, including the United Kingdom and Canada, through their passport system. The minimum investment for obtaining citizenship starts at $250,000, which can be directed towards national development or charitable donations. Aisha Maina, Chief Executive Officer of Acquarian Consult, elaborated on the forthcoming African Caribbean Summit scheduled for March 2025. This event will showcase investment opportunities both in Nigeria and Africa to Caribbean countries, as well as present investment possibilities in the Caribbean to Nigerian and African markets, with a particular focus on St. Kitts and Nevis.
The initiative to strengthen investment ties between Nigeria and St. Kitts and Nevis is rooted in the growing trend of fostering international trade relationships, particularly with smaller, stable economies that offer strategic advantages for investors. St. Kitts and Nevis, with its favorable economic conditions, including a literacy rate of 90%, a vibrant workforce, and an attractive tax structure, presents a promising opportunity for investment. The Caribbean nation is known for its welcoming stance towards foreign investments, making it an appealing destination for Nigerian businesses looking to expand their horizons internationally.
In conclusion, Nigeria’s engagement with St. Kitts and Nevis represents a significant opportunity for mutual economic benefits, reflecting a strategic approach to international investment. The forthcoming summit aims to foster connections and facilitate a stronger trade relationship, providing Nigerian investors access to a wider global market. The unique investment incentives offered by St. Kitts and Nevis further enhance the attractiveness of this partnership, positioning both nations for potential growth.
Original Source: dailytrust.com
