OrderPaperToday– The Federal Government has made moves to woo foreign investors at the ongoing United Nation’s General Assembly (UNGA) in New York.
The Minister of Budget and National Planning, Senator Udoma Udo Udoma, while speaking at an Investors Roundtable held under the auspices of the Business Council for International Understanding (BCIU), disclosed that Nigeria’s current government has continued to show a commitment to creating a conducive business environment in the country.
Senator Udoma noted that President Muhammadu Buhari has been fulfilling his promise to restore peace in the troubled areas, fight corruption and grow the economy.
“The present government inherited a challenged economy with very weak fundamentals, but has worked hard towards not only getting the economy out of recession, but placing it on a path of sustained inclusive growth through a series of policy initiatives and deliberate actions,” he said.
The Minister added that the diligent implementation of their initiatives has resulted in the economy emerging from a recession within a short period and beginning to grow again. He stressed that Nigeria’s Economic Recovery and Growth Plan (the ERGP) is anchored on partnership with the private sector with the government helping to create the enabling environment through infrastructural development.
Also speaking at the event, the Minister of Finance, Zainab Ahmed and the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah revealed that significant progress has been made with the implementation of many of the policy initiatives of government, citing the stabilization of the country’s currency, consistent downward trending of inflation, increased foreign reserves, fiscal discipline in government, and a commitment to creating a conducive business environment.
In his remarks, the Governor of Edo State, Godwin Obaseki confirmed that State governments have been working closely with the Federal Government to create an enabling environment for businesses to thrive in the country.
The meeting, which was organised by the Nigerian Investment Promotion Commission (NIPC), had over 31 international organisations in attendance. They included Chief Executive Officers and representatives from Shell Oil Company, Walmart, Motorola Solutions, Coca Cola, Boeing International, United Arab Emirates, Procter and Gamble, SAAB Middle East and Africa, American Tower Corporation, Abbott Laboratories, Lafarge CIM Nigeria, Flour Mills of Nigeria, Olam Nigeria and ACIOE LLC, and more.
The foreign investors present at the roundtable expressed interest in scaling up investment in Nigeria noting that the country remains the best investment destination in Africa due to its enormous natural and human resources.
Also during the week, on Wednesday, the Edo State Governor and some Ministers participated in the Zenith Global Economic Forum on “Nigeria Open for Business,” attended by foreign investors, as well as some Nigerian business leaders.
On Thursday, Senator Udoma, Mrs Ahmed, Mr Emefiele, the Director of the Debt Management Office, Mrs Patience Oniha and the Executive Secretary of NIPC, Ms Yewande Sadiku, had a series of meetings with more than eight high rate investors to explain current happenings in the country as it affects foreign investments in Nigeria and assured them of policy consistency, adherence to global best practices and the security of their investment.
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