President Goodluck Jonathan has assured international investors that Nigeria’s climate is conducive for investments.
While giving an opening remark at the 14th meeting of the Honorary International Investor Council (HIIC) held at the Banquet Hall of the Presidential Villa, the President also assured that Nigeria was winning the war against terrorism.
The HIIC which is coordinated by Baroness Lynda Chalker, was inaugurated in 2004 as a Presidential advisory council to attract global financial players in to the Nigerian economy and is charged with the responsibilities of looking in to Nigeria investment environment, advice on areas to improve on and attract businessmen across the world to take interest in investing in Nigeria.
The President also said with the declaration of state of emergency in three troubled northern states of Borno, Yobe and Adamawa on May 14, there have since been significant improvements in the nation’s security adding that it had witnessed unprecedented supports by the locals.
The President said this development had confirmed that the issue of insurgencies witnessed in the country has nothing to do with religion, but the activities of internationally backed terror groups determined to destabilise the nation.
He thanked members of the HIIC for their efforts at attracting business and investments into the country and encourage them to do more adding that though the nation?s economy is growing, he would like to see it improved to an appreciable level of double digit growth.
The President informed the Council that he presented a mid-term report of performance of his administration on May 29 to correct the “lots of misinformation?? going on among the people.
On the challenge of high statistics of school drops-out in the country, Jonathan said there is a need for an interface between the federal and states government to end the menace.
He assured that the federal government would organise a forum of stakeholders from federal and states levels on the problem after resolving the political impasse within the Nigeria Governors? Forum.
The President said that oil theft in the country had reached an alarming stage and it is affecting the country’s economy, and aiding insecurity.
Earlier, HIIC Coordinator, Chalker had said that government must take pro-active action to address the problem of oil theft which she said was “diminishing income into the treasury??.
She also charged the government to double its drive on the development of infrastructure, roads, rails, power, which she said “are key to solving other problems??.
Giving accounts of impacts of the activities of the HIIC on national development, Minister of Trade and Investment, Dr Olusegun Aganga said there was significant increase in foreign direct investment in the economy.
Specifically, he said the petrochemical sub-sector attracted over 20 billion dollar investments with over 8 billion dollar contribution by the Dangote group.
Aganga said the investments in petro-chemical have encouraged value addition into the oil and gas sector and generate employment.
He said the country will soon launch its auto-programme with a plan by Nissan Automobile to launch an assembly plant in the country.
The minister said that in the last six months, the telecommunication sector had attracted over 6.9 billion dollars.
Aganga said there had been influx of foreign investments from Brazil, Canada and Netherland while Turkey had signed an agreement to build an industrial park in the country.
?He said some of the investors have, however, been asking for increased incentives to invest in the rural areas, while some ?complain of skill-gaps.
Present at the meeting were Vice President Namadi Sambo, Ministers of Finance, Dr Ngozi Okonjo-Iweala, Aviation, Stellaa Oduah, Power, Prrof. Chinedu Nebo, Agriculture, Dr Akinwumi Adesina, Petroleum Resources, Diezani Allison-Maadueke and Internal Affairs, Abba Moro.
Some foreign investors at the meeting were Hruki Hayashi, Simon Hayford, Olivier Suinat, Guillaume Roux, Jacques des Grottes, Andrew Brown and David Haworth.
Nigerian business men at the meeting include, Aliko Dangote, ?Emmanuel Ijewere, Femi Otedola, Umar Murtallab and ?Sam Jonah.
Also in attendace are, the Comptroller-General of Customs, Abdullahi Dikko, the CBN Governor, Sanusi Lamido, Group Managing Director of NNPC and the Executive Secretary of the Nigeria Investments Promotion Council, Mr Mustafa Bello.
