President Jonathan Calls For More Investment In Nigeria
President Goodluck Jonathan, on Thursday called for an increased trade volume between Nigeria and the United States.
According to a statement issued in Abuja, by the Special Adviser to the President on Media and Publicity, Dr Reuben Abati, a copy which was obtained by NAN said, the President noted that the volume of trade between Nigeria and the United States will continue to grow with greater cooperation between the public and private sectors of both countries.
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It said the President while speaking at a dinner held in his honour by the U.S. Chambers of Commerce (UCC) and the Corporate Council on Africa (CCA) in Washington DC, revealed that the trade volume between both countries has risen to a record level of 36 billion dollars per annum.
The statement pointed out that President Jonathan welcomed the support of the Obama administration and both organisations for ongoing efforts to positively transform the Nigerian economy and make it one of the world’s 20 largest by 2020, adding that the recent developments had shown that Obama was right when he spoke in September 2013 of increasing international recognition of Nigeria's role in the global economy.
“Our economy has since been re-based and it is now the largest in Africa. We are the 26th largest economy in the world and the largest trading partner of the U.S. in Africa. The latest figures show the volume of trade between Nigeria and the U.S. to be 36 billion dollars and still counting. Between last year and now, we hosted the World Economic Forum on Africa which was attended by 1,000 participants from 70 countries. The forum attracted over 68 billion dollars in investment to the African continent in form of foreign direct investments as well as private and public investments” he said.
The statement revealed that all African countries were targeting projects that would boost agriculture sector, infrastructures like roads, railways, hospitals, education, skill development and ICT in the continent. It said the President also made mention of the huge untapped solid minerals the country possess, adding that Nigeria remained the largest source of natural gas with large areas of unexploited fertile lands for agriculture.
“We will continue to make Nigeria an attractive destination for foreign investors through the constant implementation of our policy of creating an attractive and conducive climate for investors. The oil and gas industry remains Nigeria's main source of revenue and foreign exchange earner, but we are working very hard to fully diversify the country's economy. We will welcome greater support from the United States for its efforts to make other sectors of the Nigerian economy more productive” Jonathan said.
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The statement concluded that President Jonathan promised American investors that his administration was taking all necessary action to curb insurgency and protect lives and property in the country.
Source: Legit.ng
