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Nigeria is preparing to deepen its investment ties with the Caribbean nation of St. Kitts and Nevis, exploring diverse areas of economic collaboration. This development was unveiled by Her Excellency Roslyn Hazelle, Ambassador-at-Large and former Chief Executive Officer of the St. Kitts Investment Promotion Agency (SKIPA), during an event on Saturday that showcased the investment potential of St. Kitts and Nevis.

Addressing journalists, Ambassador Hazelle emphasized the appeal of St. Kitts and Nevis for foreign investors, highlighting that it is an English-speaking country with a population of about 52,000, a literacy rate nearing 90 percent, and a highly educated workforce. “St. Kitts and Nevis has a legacy of economic stability, supported by a robust currency pegged at 2.7 Caribbean dollars to 1 US dollar,” she stated.

Ambassador Hazelle pointed to several other benefits that make St. Kitts and Nevis an attractive destination for investment, such as the absence of personal income tax, reliance on social security contributions instead, and provisions for dual citizenship. “Our country also boasts a transparent, well-regulated financial services sector and offers exemption from import duties,” she added.

Chief Executive Officer of Angel Global, Barrister Nwachukwu Okafor, underscored that this partnership is intended to foster mutual economic growth rather than divert Nigerian investments abroad. “This move promotes a symbiotic trade relationship,” he said. Okafor highlighted the upcoming investment summit in March, which will bring together representatives from Nigeria, St. Kitts and Nevis, and other Caribbean countries to explore these bilateral investment opportunities.

Among the attractive prospects is the Citizenship by Investment program in St. Kitts and Nevis, where individuals can make a minimum investment of $250,000 towards the country’s development agenda or as a donation, securing access to visa-free travel to over 150 countries, including the UK, Canada, and other European nations.

Aisha Maina, CEO of Acquarian Consult, added further context to the event, noting that the African-Caribbean Summit, scheduled for March 2025, aims to highlight investment opportunities for both African and Caribbean countries. This summit, with a particular focus on St. Kitts and Nevis, will serve as a platform to bridge economic ties between Nigeria and the Caribbean, facilitating a flow of mutual investments and economic growth.

The summit promises to strengthen Nigeria’s relationship with St. Kitts and Nevis, opening doors for Nigerian investors and showcasing a shared vision for sustainable growth across regions.

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Nigeria to strengthen investment ties with Caribbean island