Trade state minister Harriet Ntabaazi has rallied Nigerian businessmen to take advantage of Uganda Airlines' direct flights from Entebbe to Lagos to invest in Uganda.

Ntabaazi made a call during a half-day Nigeria–Uganda trade summit at Marriot Hotel, Ikeja, Lagos in Nigeria, on Friday together with several Nigerian businessmen. Ntabaazi noted that the incentives which Uganda extends to investors can’t be found elsewhere in the world.

“When you invest in Uganda, you will have all the necessary incentives that you need. The Government will give you free land and you put up your factory. It will also give you a 10-year tax holiday and you will make money. You can’t find it anywhere [else]. Nigeria gives you three years but Uganda its 10 years," Ntabaazi said.

Ntabaazi also assured investors of the safety of their investments in Uganda. She emphasized that Uganda has one of the best modes of security for money in terms of banking and cash.

“The President of Uganda first worked on security before anything else to the extent that we export security elsewhere,” she added.

The summit was organised by Uganda Airlines to root for business potentials for Uganda in Nigeria. 

Uganda's trade state minister Ntabazi and and transport state minister Fred Byamukama during the forum in Lagos, Nigeria

Uganda committed to expanding market

Uganda's transport state minister Fred Byamukama who led the Government delegation to the Uganda Airlines’ inaugural flight to Lagos also assured Nigerian investors that the government is committed to widening the market in East Africa by extending the railway line to DR Congo in order to open up Central Africa.

Uganda’s high commissioner to Nigeria Nelson Ocheger reminded Nigerian businessmen that Uganda is a peaceful country and registering positive growth in social services, infrastructure, power supply, ICT development, agro-processing and industrialisation.

“The economy is fully liberalised and vibrant, the monetary and fiscal policies are sound and the fundamentals of the economy are robust. This has resulted in exponential growth of FDI [foreign direct investment] into the country. There is no hindrance to the repatriation of profits in foreign countries," he told the businessmen.

 Uganda Airlines chief executive officer Jenifer Bamuturaki said: “Direct flights between Uganda and Nigeria are important not only for business and tourism but are also culturally significant. From oil and gas, agriculture, investments, textiles and now music; Uganda Airlines will offer the air bridge to immense possibilities".

Some of the Nigerian businesspersons attending the Uganda-Nigeria business forum on Friday

Waive visa fees

Nigerian Businessmen who attended the summit urged the Uganda government to waive visa fees to quicken connectivity between the two countries.

The crane will fly three times a week to Lagos, including Monday, Thursday and Sunday.