Foreign investors have been urged to see the $5 billion foreign investment secured by the Federal Government as a bankable surety by international community to invest massively in the country.
The Minister of Information and Culture, Alhaji Lai Mohammed, who made the call in London, on Thursday at a breakfast meeting with investors, lawyers, the business community and diplomats with ties to Nigeria, said the Muhamadu Buhari administration has laid the necessary groundwork for the growth of the nation’s economy.
Mohammed said the country as the largest economy and a political powerhouse in Africa represents a highly attractive market and investment partner.
He said, “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.”
The minister said in the past four years, President 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 percent of GDP and has become the primary driver of growth for the economy.
The Minister said Nigeria’s successful battle against insecurity and corruption had made the country an advocate for transparency and accountability in Africa, while further strengthening its economy.
On the recent general election, he said the re-election of President Buhari was a validation of the fact that Nigerians recognised the change and transformation that the administration had brought to the country.
He 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 had 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,” Mohammed said.
The event is part of the ongoing visit of the Minister to the United States of America and the United Kingdom to meet with the international media, opinion moulders and think tanks.
