Nigeria and Mauritius are seeking to deepen investment and financial ties, with stakeholders highlighting Mauritius’ growing role as a gateway for Nigerian capital into Africa and other emerging markets.
Speaking at the Mauritius Business Forum in Lagos, organised by Mauritius Finance, Co-founder and Managing Director, ACQ Managers, Seun Onayiga, urged Nigeria to urgently ratify a long-delayed treaty with Mauritius.
He argued that the failure to complete the process had contributed to capital being routed through alternative jurisdictions.
Onayiga said the treaty, signed by both countries several years ago, remained unratified by the National Assembly, limiting the ability of investors to use Mauritius directly as a gateway for Nigerian capital.
He also called for greater use of domestic capital in developing Nigeria’s private markets, noting that less than five per cent of Nigerian financial assets was invested in alternative assets such as private equity.
He said the country’s large pool of domestic savings should play a greater role in providing patient and productive capital for businesses and infrastructure rather than relying predominantly on international investors to assume Nigerian private-market risk.
