Business
Jonathan Reassures Investors On Security, Investments
President Goodluck Jonathan has re-assured the international community that his administration would continue to do everything possible to enhance security of lives and investments.
Jonathan, gave the assurance when he received a 45-member U.S. trade delegation at the State House. He said the Federal Government was working very hard to overcome the country’s current security challenges, stressing that efforts were being made to curb terrorism and other criminal acts such as kidnapping and hostage-taking.
Jonathan assured the delegation that his administration would continue to empower the private sector to serve as the main drivers of the Federal Government’s agenda for national economic growth and development.
He also assured the company executives on the delegation of the safety of their current and future investments in the country.
The President told the delegation that Nigeria had one of the most liberal legal regimes for the movement of capital and profits, adding “we welcome your interest and commitment to Nigeria’’, stressing that “You are coming at a time when sectors previously dominated by government monopolies are being opened up to the private sector.
“ He said we fully believe that that is the best way forward and the best way to create greater efficiency, employment and economic prosperity. You all know Nigeria’s potential adding “With its very huge market and the conducive investment climate we are working hard to foster, it is a country where your companies can do very fruitful business.
“He said I assure you of the full encouragement and support of the Federal Government for your investments.’’
The delegation was led by the President and CEO of the Corporate Council on Africa, Mr Steve Hayes and the Executive Vice President of the Overseas Private Investment Corporation, Ms Mimi Alemayehou.
Hayes thanked Jonathan for his efforts to promote greater trade and economic cooperation between Nigeria and the U.S.
He assured Jonathan that the Corporate Council on Africa and its members fully recognised Nigeria’s immense economic potential and that they would do their best to support his agenda for national transformation.
Also speaking the U.S. Ambassador to Nigeria, Mr Terrence McCulley, said Nigeria needed to diversify its economy away from oil and gas.
He said that the delegation was looking at expanding U.S. presence in the manufacturing and agro-allied, entertainment and ICT sectors.
He said the energy delegation came last year, we are hoping to follow-up later this year with a delegation in the health sector stressing that “I think there are enormous opportunities in this very important market’’.
Also speaking to newsmen, Nigeria’s Ambassador to the U.S., Mr Ade Adefuye, said the visit by the delegation was a follow-up to the investors’ forum held in Washington.
He said there were representatives of 17 U.S. high tech companies in the delegation and that the emphasis would be on the non-oil sectors.
The company executives expressed interests in aviation, power, food processing, ICT, construction, housing, textiles, infrastructure and finance sectors.
Meanwhile, the Minister of Works, Mr Mike Onolememen, said the Federal Government would go into partnership with the U.S. on infrastructure development.
Onolememen stated this at an interactive session with the American Corporate Council on Africa’s Infrastructure Trade Mission to Nigeria that the partnership would help to grow the Nigerian economy stressing that the partnership would help to narrow the infrastructure gap in Nigeria as infrastructure development remains the major key to national development.
He commended the trade mission for keying into Nigeria’s vast investment as Nigeria remained destination choice for investors.
In his speech at the session, the Minister of Foreign Affairs, Mr Olugbenga Ashiru, said Nigeria had continued to attract investment from various countries stressing that“Nigeria is one of the topmost emerging markets for now and for the future.
“The challenges the country is facing in terms of security are isolated and they will not affect the overall inflow of investments into the key sectors of the economy,’’ he said.
Ashiru said the trade delegation’s visit “coincided with the currency of the Federal Government’s Transformation Agenda, especially as it affected infrastructure development’’.
He called on the delegation to harness sectors that would promote job creation.
He said the area that Nigeria would want to see more investment in the key sectors of agriculture and power, adding “you have quite a lot of experience in the power sector and with General Electric now opening a factory in Nigeria.
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