ACCI mulls investments in US, targets $2m repatriation annually

By Ikenna Uwadileke

The Abuja Chamber of Commerce and Industry (ACCI), has urged the Nigerian business community to leverage on its upcoming investment information series to own businesses in the U.S.

The Director-General of ACCI, Ms Victoria Akai, made the appeal on Wednesday in a news conference in Abuja, to herald the information series on investment opportunities in the U.S., tagged; “EB-5 Passport Series’’.

The News Agency of Nigeria (NAN), reports that the event, scheduled for Oct. 20, at the ACCI Trade Convention Centre, Abuja, is organsied by Invest In the USA (IIUSA), in partnership with the ACCI.

According to Akai, the EB-5 Passport Series, is a pathway to owning a business in the US with permanent residency.

“The more investors Nigeria has in the US, the more opportunities we have to contribute to shaping policies that affect Nigeria and Africans in the U.S.

“According to World Bank statistics, Nigeria in 2019 had a total export of 53.6 billion dollars and total imports of 47 billion dollars, leading to a positive trade balance of about two billion dollars.

“Nigerians are being asked to come and invest in the U.S. like other countries come to invest in Nigeria, make money, employ their citizens, and whatever profits we make in the U.S., we are also allowed to repatriate it back to Nigeria.

“Eventually, in a year we should be able to repatriate up to one billion or two billion dollars to Nigeria,’’ she said.

According to Akai, many Nigerians seeking legitimate investments in the U.S., are not connecting with the right people, or getting correct information that will enable them effectively manage risks and guarantee success in record time.

“As experts in the field of international trade and investment, we recognise the leverage of being true global citizens in the sense of global mobility.

“Investment opportunities, which also provide opportunities for citizenship, could help to extend peoples’ economic impact and help them build beyond borders and also trade and live without limits.

“The process of investing in the U.S. has been the potential to significantly increase repatriation of funds to Nigeria.

“Nigerian investors can benefit from various continental and trade agreements existing in the U.S. such as the North American Free Trade Agreement (NAFTA),’’ Akai said. (NAN)