In a bid to enhance the ease of doing business and attract foreign investment, the Federal Executive Council, chaired by President Bola Tinubu, has greenlit the establishment of a tripartite committee tasked with streamlining visa processes for investors interested in Nigeria.
The announcement was made by the Minister of Information and National Orientation, Mohammed Idris, following the FEC meeting held at the Council Chambers of the Presidential Villa in Abuja on Tuesday.
Idris highlighted the growing concerns over the complexity of visa procedures, acknowledging their significant impact on the ease of doing business in the country. He underscored the pivotal role that streamlined visa processes play in facilitating investment and tourism, emphasizing the government’s commitment to expediting visa acquisition for investors and tourists alike.
Under the proposed reforms, investors and tourists can expect a more expedited visa acquisition process, with approvals potentially granted within 48 hours. This initiative reflects the government’s proactive stance towards fostering a conducive environment for business and investment in Nigeria.
The FEC meeting, which commenced on Monday, was adjourned to Tuesday to accommodate discussions on additional “far-reaching” decisions, as indicated by the information minister. This underscores the government’s dedication to implementing comprehensive measures aimed at enhancing the nation’s economic prospects and attracting foreign investment.
The establishment of the tripartite committee marks a significant step towards addressing longstanding challenges in visa acquisition processes and bolstering Nigeria’s appeal as a destination for investment and tourism.
