NIGERIA, BEST ECONOMIC DESTINATION IN AFRICA – OSIBANJO

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ABUJA— ACTING President, Prof. Yemi Osinbajo, has said that any investor desirous of making a fortune on his investment in Africa will always consider Nigeria as the best economic destination on the continent.

The Acting President also disclosed that there was massive payment assurance scheme of over N701 billion the Federal Government was infusing into the power value chain to free up the chain.

Osinbajo“I like the idea of investors knowing that the reason you are coming to Nigeria is not to help Nigeria.You will ultimately end up helping Nigeria, but the reason you are coming here is the fact that this is a good place to do business,” he said.

Speaking at the Nigerian Initiative for Economic Development, NIED, at the Presidential Villa, Abuja, yesterday, the Acting President said the country would be hosting the largest private sector investment of single line refinery in the world that will be producing 650,000 barrels of oil every day as well as the largest single line fertilizer plant in the world that will all be ready by the end of 2018 and early 2019.

He said: “So, really, Nigeria is a place that is waiting to happen and it will happen. That’s really the point. It will happen. The truth of the matter is that any country that opens itself to free enterprise, the way Nigeria is opening itself to free enterprise, will somehow find that it will work.

“That is one of the critical things that we are bringing into the mix. We are insisting that the only way that this country can make the profit that it needs to make is by private sector investment, beginning with local investment.

“That’s why we are working so hard on making the investment climate profitable and easy for those who are doing business already.

“We believe that those who are doing business already will invariably bring in those who want to do business from outside the country, foreign investment etcetera.”

“But we think that it must be private sector driven. Our budget is N7trillion this year. Now, N7trillion is a small amount of money. I am not adding the budget of the states because if you add that it comes to something close to N20trillion. But just looking at the federal budget it is just N7trillion.

-BNN

 

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