Home News Restrict Visa Policy to Boost Nigeria’s Economy

Restrict Visa Policy to Boost Nigeria’s Economy

by Tolulope Akinruli

Visa policy, thekla Advisory, a prominent public affairs advisory firm, has voiced its concerns and recommendations regarding the recent announcement made by the Minister of Interior, Hon. (Dr.) Olubunmi Ojo, during a press conference held on October 4th, 2023. The Minister expressed apprehension about the lack of reciprocity from certain countries regarding Nigeria’s visa-on-arrival policy and indicated a potential review of Nigeria’s visa and passport policy.

In response to the Minister’s announcement, Thekla Advisory has called for restraint and urged the Ministry to reconsider its proposed actions, with a strong emphasis on prioritizing Nigeria’s economic well-being. The firm’s founder, Godson Ogheneochuko, highlighted the importance of maintaining the status quo. He stated, “One of the key objectives of the Nigeria Visa Policy of 2020 was to improve the ease of doing business by streamlining the entry process to facilitate business and attract foreign direct investment.”

According to Ogheneochuko, it seems that the Minister may be inclined towards retaliatory measures due to the non-reciprocity actions of other countries. However, Thekla Advisory firmly believes that reversing the Visa Policy would not be in Nigeria’s best interest, particularly in the context of the ongoing foreign exchange and economic crisis. Ogheneochuko went on to say, “Any country facing the kind of economic challenges that Nigeria is currently grappling with should make the facilitation of business meetings and transactions within its borders a non-negotiable objective. Maintaining the visa policy is vital for attracting foreigners and foreign investment to Nigeria.”

In lieu of a policy reversal, Thekla Advisory has proposed alternative actions. They recommend retaining and expanding the Visa Reciprocity Policy to include more countries. Additionally, they suggest enhancing the process for issuing business and tourism visas, ensuring that these visas can be obtained within a maximum of three days.

The comprehensive response from Thekla Advisory also advises close collaboration between the Ministry of Interior and the Ministry of Foreign Affairs. This collaboration would involve discussions with countries that have not reciprocated the visa policy or have imposed stringent entry requirements. The aim of these discussions would be to identify the underlying reasons for these countries’ actions, which might include concerns about migration, security, or trade-related protections. The subsequent actions should align with Nigeria’s best interests and not be driven by a retaliatory approach that could hinder the country’s ability to attract investors from these nations.

Thekla Advisory goes a step further and advocates for a trade-focused strategy. They propose that Nigeria should continue to provide the Visa-on-Arrival incentive for countries that have not reciprocated Nigeria’s visa policy but have a track record of consuming Nigerian-made goods and services or hold potential for further trade and exports. This approach could be complemented by actively encouraging the business communities of these countries to visit and invest in Nigeria. Initiatives like trade shows and incentives could be employed to make it more accessible for these countries’ business communities to invest in Nigeria, potentially leading them to advocate for changes in their visa policies on behalf of Nigeria.

The rationale behind this trade-focused strategy is the belief that it will yield more significant benefits for Nigeria compared to a mere reversal of the visa policy. The idea is that by fostering stronger economic ties and encouraging foreign investment, Nigeria can enhance its position on the global stage and bolster its economic stability.

Conclusion: visa policy

Thekla Advisory’s thoughtful response to the Minister’s announcement underscores the importance of taking a cautious and strategic approach when it comes to revising the visa policy. It highlights the need to prioritize Nigeria’s economic well-being, maintain a welcoming environment for foreign investors, and engage in diplomatic efforts to address the concerns of non-reciprocating countries. Ultimately, a trade-focused strategy is proposed as a more viable and beneficial alternative to a hasty reversal of the visa policy.

 

 

 

related posts

Leave a Comment