Nigeria to bolster investment ties with Caribbean nation St. Kitts and Nevis considering 2025 Summit. Investors from both countries are set to deepen economic ties through collaborative ventures and symbolic trade relationships.
Chief Executive Officer (CEO) of Angel Global – Barr. Nwachukwu Okafor made the call during a visit by the former CEO of the St. Kitts Investment promotion Agency (SKIPA) – Roslyn Hazelle in Abuja.
He stated that the investment opportunities are enormous. So, it is clear that by holding a passport of St. Kitts nation, Nigerians will have access to more than 150 countries of the world comprised of UK, Canada and other European countries.
The African-Caribbean Investment Summit is a significant milestone in the partnership that is scheduled to be held in March 2025 in Abuja, Nigeria. The summit will involve investment opportunities between Nigeria, St. Kitts and Nevis and other Caribbean Nations.
Okafor added that the investment amount begins from $250,000 for individuals seeking the St. Kitts and Nevis passport. This is an initiative that also invites investors into St. Kitts through collaboration with the Nigerian government.
Considering this, the former CEO of SKIPA – Roslyn Hazelle provided insights into St. Kitts and Nevis. While describing the English-speaking Caribbean nation, which is a home to about 52,000 people with a literacy rate of 90% along with highly educated workforce.
Hazelle assured the potential investors about the economic stability of Nigeria, which is pointing to its strong currency, the Caribbean dollar. The currency valued at $2.7 Caribbean dollars to $1 US dollar and its lack of personal income tax.
She mentioned that they pay social security mainly based on salary levels. However, the country also permits dual citizenship.
The CEO of SKIPA also noted the advantages of investing in St. Kitts and Nevis that includes transparent, well-regulated financial services, exemption from import duties as well as welcoming business environment.
The investment ties will further strengthen the bond between the two nations and will work out for each other’s welfare.