President Goodluck Jonathan, on Thursday, assured German investors of a high return on their investments which he said would thrive under the prevailing laws in Nigeria.
Speaking at a breakfast meeting with representatives of the private sector and German Business Association in Berlin, the President said Nigeria is an investors’ delight on account of its favourable investment climate which he advised them to explore.
“For those yet to take advantage of opportunities available in my country, I challenge you to take the plunge today and you would be glad you did. As they say, the taste of the pudding is in the eating,” he said.
Jonathan said his administration has made efforts not only to strengthen the private sector but also to create a conducive environment that can attract Foreign Direct Investment and enhance the nation’s growth.
He also said government’s commitment to democracy, the rule of law, in addition to availability of large markets within Nigeria and the West Africa sub region, were irresistible conditions that should entice investors.
The President noted that Nigerians were entitled to enjoy the dividends of democracy, which he said can only be realised under conditions of economic growth and prosperity.
“Consequently, one of our pressing and most urgent challenges is how to empower our youths with necessary skills to enable them to participate meaningfully in our increasingly knowledge-driven economy,” he said. “The Transformation Agenda of my administration is intended to achieve this goal. I would like to see the acclaimed ‘German machine,’ the euphemism for competence and effectiveness, replicated in Nigeria.”
The meeting was attended by selected chief executive officers of German corporations, many of who spoke about the need to reduce factors inhibiting foreign investment in Nigeria.
Wants German help against Boko Haram
The President also appealed to the German government to assist Nigeria with technology to develop the country’s security architecture and enable it to successfully tackle the Boko Haram challenge in the country.
He made the appeal during a media briefing with German Chancellor Angela Merkel in Berlin, where he also assured investors that government was putting all necessary measures in place to guarantee the safety of their investments and returns for such investments.
The issue of terrorist attacks in parts of the country featured prominently on the agenda of the bilateral talks between both leaders at the German Chancery in the country’s capital.
“As a nation, we have security challenges because most investors talk about security,” said Jonathan. “At present, we have the local terrorist group code named Boko Haram. From publications on this terrorist group, it paints a very gloomy picture as if the whole country is in tatters. These terrorists operate in some states in then north east part of the country but go into other states from time to time.
But what I can assure the global community, especially our investors from Germany, is that government is working very hard to bring it under control.”
Pointing out the difference in the manner of operation of the terrorists from other criminal activities which he said took the country by surprise, the president noted that Nigeria would have to deplore superior technology to counter the plans of the Islamic fundamentalist sect.
“The area we expect our development partners, especially countries like Germany, to help is in terms of our security architecture, training and providing us with some modern equipment,” he said. “You have to fight terrorists with technology because terrorists do not need to come with a rifle and you confront them one on one. They will surprise you, they will not come to engage you except to defend themselves occasionally.
So, you must have superior technology to monitor them and know how to you can relate with them. And these are the areas we believe that countries like Germany and others and even the United Nations (UN) can assist us.”
Responding, Merkel stressed her country’s resolve to work with the Nigerian government to bring the situation of Boko Haram under control. According to her, the newly established bilateral commission between Germany and Nigeria should be able to discuss the issue with the aim of coming up with greater details of the areas where Nigeria may need help.
“But I think what is most important is the resolve of the Nigerian government to deal with such a group and to remain on top of the situation and protect the peace loving people of Nigeria who suffer most from such attacks,” she said. “Where ever we can be helpful, be it in training, be it in logistics, we will certainly be glad to do that and the details can then be worked out by the bi-national commission.”
