- President Buhari said that foreign companies are already returning to Nigeria
- He said his administration has doubled the country’s foreign reserves after exiting recession
- Former emir of Qatar, Sheikh Hamad Bin Khalifa Al Thani, who visited the president said he and his delegates are interested in investing in Nigeria’s economy
President Muhammadu Buhari said that after the country’s exit from crippling recession, foreign private companies were coming back to Nigeria.
The president said that the companies were making massive investments within the existing legal and regulatory frameworks, Vanguard reports.
Buhari disclosed this at a meeting in Abuja with a Qatari business delegation led by the former Emir, Sheikh Hamad Bin Khalifa Al Thani.
President Buhari expressed delight over the ‘significant’ growth in the non-oil sector which he said was creating thousands of jobs across the country.
He said: “As you are aware, Nigeria just exited its worst recession in more than two decades. We have more than doubled our foreign reserves.”
Garba Shehu, the president’s senior special assistant on media and publicity quoted him as saying: “We are winning the war against corruption, we are developing our infrastructure, and we are enforcing the rule of law.
“As a result of this, we are seeing significant growth in the non-oil sector which is creating thousands of jobs across the country.”
He described the federal government’s economic agenda as one designed to move Nigeria from over-reliance on crude oil and food importation.
The president told the delegation that in the last two years, the policy has turned the nation into one of the most attractive investment destinations in Africa.
He said: “My administration’s economic agenda has always been to move away from over-reliance on crude oil and food importation. Nigeria is a blessed country, we have fertile land, we have a young and energetic population, and we have a very strong legal and regulatory system that protects capital and investments, both local and foreign.”
He cited the current strategic partnership between Moroccan and Nigerian fertiliser companies as part of his administration’s success stories.
According to President Buhari, Nigeria has at least 13 functioning fertiliser blending plants with another four in the pipeline as a result of the alliance that is purely driven by the private sector.
He stressed further that in 2017, the country saw significant commitments and agreements by major global organisations in infrastructure projects.
In his remark, Sheikh Al Thani said that the global opinion on Nigeria as an investment destination had been boosted by Buhari’s strong standing against corruption and adherence to the rule of law.
PAY ATTENTION: Read the news on Nigeria’s #1 new app
He also informed his host that the delegation is interested in investing in Nigeria’s oil, railway, aviation and power sectors.
NAIJ.com previously reported that the federal government had generated about 64,000 jobs across the nation through the 2016 National Housing Programme, the minister of works, power and housing, Babatunde Fashola has said.
Fashola, during an inspection tour of the site of Federal Housing Programme for Osun state on Wednesday, February 28, said the present administration has succeeded in reducing unemployment across the nation by injecting over 2,000 housing units in the country.
The minister who was represented by Olasunkanmi Dunmoye, the south-west zonal director of the program, described the Osun site with 68 housing units comprising of 44 units of 2 bedroom flats, 20 units of 3-bedroom flats and 4 units of 1bedroom, as the best in the region.
President Buhari commissions first Nigerian drone - on NAIJ.com TV
Source: Naija.ng
from Nigeria News today & Breaking news ▷ Read Nigerian newspapers 24/7 http://ift.tt/2tbYUJi
via IFTTT
