Nigeria shifts investment conference due to Abuja airport closure

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LAGOS Feb 24  – Nigeria has postponed a trade conference meant to drum up badly-needed investment for three months due to the temporary closure of its capital’s international airport, the organizers said on Friday.

The delay is the first sign that government and business activity will be impacted by the six-week closure of Abuja airport for runway repairs just as Africa’s biggest economy grapples with recession.

The airport will close from March 8 and the government had hoped foreign airlines would use the smaller Kaduna airport about 160 km (100 miles) to the north.

So far, however, most international airlines including British Airways, Lufthansa and South African Airways have refused to fly to Kaduna, partly due to security concerns.

The British Foreign and Commonwealth Office advises against all but essential travel to Kaduna state in northern Nigeria. Underlining the security risks in the region, two Germans were kidnapped on the main Abuja-Kaduna road this week.

Organisers of the Nigeria International Trade and Investment Conference said in a statement the event had been pushed back from late March to June 13-15 due to the airport closure.

The conference aims in particular to attract farming investment to boost local food production and reduce the country’s dependency on oil exports.

Nigeria’s economy has been hammered by a slump in oil revenues that has eroded public finances and forced the central bank to devalue the naira several times.

The government imposed this week a 24-hour curfew on parts of Kaduna state after clashes between herdsmen and villagers killed at least 14 in the region.

 

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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