Nigeria to Enhance Investment Ties with St. Kitts and Nevis
Nigeria plans to strengthen its investment relationship with St. Kitts and Nevis, focusing on economic collaboration and opportunities. This initiative includes an investment summit in March to promote bilateral trade and investment benefits, such as citizenship options for Nigerian investors.
Nigeria has announced plans to enhance its investment ties with St. Kitts and Nevis, a Caribbean island nation. This development was shared by Roslyn Hazelle, the former Chief Executive Officer of the St. Kitts Investment Promotion Agency, during an investment showcase event. She highlighted the nation’s English-speaking population of approximately 52,000 people, with a notable literacy rate of around 90%, and an educated workforce. Hazelle emphasized the economic stability of St. Kitts and Nevis, stating, “St. Kitts and Nevis have a legacy of a stable currency, which is the Caribbean dollar, equivalent to 2 Caribbean dollars and 7 cents to the US dollar.” She further noted the benefits of the nation’s tax policies, indicating, “We also do not pay personal income tax; rather, we pay social security, which is based on the level of your salary, and the country also allows for dual citizenship.” Additionally, Hazelle pointed out multiple advantages of investing in St. Kitts and Nevis, including a transparent regulatory framework for financial services and exemptions from import duties. Barr. Nwachukwu Okafor, CEO of Angel Global, clarified that this initiative aims to establish a mutually beneficial trade relationship rather than transferring investments out of Nigeria. Okafor announced an upcoming summit in March between Nigeria, St. Kitts and Nevis, and other Caribbean nations to highlight investment opportunities, stating, “The investment options are vast, and possessing a passport from St. Kitts allows Nigerians access to over 150 countries across the globe, including the UK, Canada, and various European nations.” He indicated that investment opportunities begin at $250,000, which would qualify investors for citizenship through development contributions or donations. Aisha Maina, CEO of Acquarian Consult, explained further: “The African Caribbean Summit in March 2025 aims to showcase investment opportunities in Nigeria and Africa to Caribbean countries and vice versa, with a particular emphasis on St. Kitts and Nevis.” This endeavor signifies a progressive step for both nations toward creating a robust economic partnership, highlighting the potential for substantial investment and mutual growth in the future.
St. Kitts and Nevis, located in the Caribbean, has been recognized for its favorable business environment, including no personal income tax and allowances for dual citizenship. The country also boasts a stable currency and a skilled labor force, making it an attractive destination for foreign investment. The initiative to deepen ties with Nigeria reflects an emerging interest in enhancing economic relationships across borders and the potential benefits these ties could bring.
In conclusion, Nigeria’s initiative to strengthen investment ties with St. Kitts and Nevis presents significant opportunities for both nations. The upcoming summit in March aims to facilitate discussions on investment possibilities, fostering a beneficial relationship that can enhance economic growth. With favorable investment conditions in St. Kitts and Nevis, this partnership could open doors for Nigerian investors while providing Caribbean nations access to broader markets.
Original Source: dailytrust.com
