– says attractive opportunities exist in Nigeria
The Federal Government has called on foreign businesses interested in investing in Africa to take a look at the opportunities available in Nigeria as the country’s economic outlook for 2018, and in the near future is positive.
Vice President Yemi Osinbajo, Budget and National Planning Minister, Senator Udoma Udo Udoma and Trade, Industry and Investment Minister, Dr Okey Enelamah at a bilateral meeting with global business leaders at the World Economic Forum (WEF) which ends in Davos, in Switzerland, on Friday, marketed the potentials of Nigeria and encouraged investors to take advantage of the opportunities on offer, a statement from the ministry of Budget and National Planning said.
At a dinner hosted by the Vice President for investors in Davos on Wednesday night, Senator Udoma said that there are opportunities available in agriculture and agro-processing, industry, mining, construction, infrastructure and services as Nigeria has one of the largest markets in Africa.
He told the gathering, which included Nigerians in the Diaspora, that the government is determined to revamp the economy by improving the enabling environment for all investors, both domestic and international.
The minister also said the aim of the Economic Recovery and Growth Plan (ERGP), is to restore growth by diversifying the economy, stabilizing the macroeconomic environment, investing in infrastructure and improving the country’s business environment, amongst others.
He emphasized that the main principles behind the ERGP are to tackle the constraints to growth, leverage the power of the private sector, allow markets to function, whilst upholding the country’s core values and promoting national cohesion and social inclusion.
Emphasizing government’s determination to drive its economic agenda to achieve the broad principles of restoring and sustaining economic growth, building a competitive economy and investing in the people, the Minister said government is focused on achieving a least 7% GDP growth;$10 billion in Foreign Direct investment; 10 GW of power generation and placing among the first 100 countries on the Ease of Doing Business ranking by 2020.
He pointed out that one of the measures, amongst many others, that government was embarking on to see to the effective implementation of the ERGP is the holding of sector specific labs, or workshops.