Foreign investors have been urged to invest massively in Nigeria and quickly take advantage of the various policies put in place by federal government aimed towards the growth of the nation’s economy.
This call was made by the Minister of Information and Culture, Mr Lai Mohammed, at a breakfast meeting in London on Thursday.
During the gathering with the business community in the United Kingdom, Mr Mohammed said Nigeria, as the largest economy and a political powerhouse in Africa, represents a highly attractive market and investment partner.
”Not only is our administration positive about our economy’s outlook, but the $5 billion in foreign investment that we have secured after the recent elections signals that you, the international community, share our positive outlook and confidence in the administration’s policy,” he said.
Mr Mohammed said in the past four years, President Muhammadu Buhari has led the nation’s economy from recession to growth through his Economic Recovery and Growth Plan (ERGP), in addition to diversifying the economy.
”While there is no denying that oil remains an important part of the economy, we have diversified, with real GDP growth being driven by the expansion of non-oil activities,” he said, adding that the service sector, for example, is responsible for 54% of GDP and has become the primary driver of growth for the economy.
The Minister said Nigeria’s successful battle against insecurity and corruption has made the country an advocate for transparency and accountability in Africa, while further strengthening its economy.
On the recent general elections, he said the re-election of President Buhari is a validation of the fact that Nigerians recognized the change and transformation that the administration has brought to the country.
He however described as disappointing and deeply irresponsible the attempts by the opposition to discredit the election and undermine the democratic choice of the Nigerian people, saying local and international observers have described the elections as credible.
”We will not be distracted from our vision and we hope that the opposition will join us in shaping a better future for Nigeria, for the benefit not only of the people of Nigeria but the region and the continent,” Mr Mohammed said.
The event is part of the ongoing visit of the Minister to the US and the UK to meet with the international media, opinion molders and think tanks.