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Published On: Fri, May 9th, 2014

Nigeria will benefit from World Economic Forum – Power Minister

Minister of State for Power, Mohammed Wakil

Minister of State for Power, Mohammed Wakil

By Etuka Sunday

The Minister of State for Power, Mohammed Wakil has said that the hosting of the World Economic Forum would consolidate Nigeria new status as the biggest economy in Africa and attract higher foreign direct investment.

The Minister who spoke on the sideline of the opening Session of the Forun in Abuja , said the recent rebasing of the Nigerian economy has attracted greater attention from the World economic community with many developing greater interest in Nigeria and her many booming sectors.

“ Nigeria attained major landmark as the leading economy on the continent following the rebasing of our economy. This is generating deep interest from major economic Players all over the World. The forum now provides that timely opportunity for such economic leaders to directly meet actors in Nigerian economy and network for greater direct foreign investment.

“For us in the power sector, the opportunities for investment by foreign investors can be accessed directly . We are excited with this rare opportunity. This forum will open up our economy further, develop further sectoral investment, create Jobs for the unemployed and generate collective prosperity for us all.

“The power sector is hosting a sideline power investors’ forum with identified international banks. We are the leading investors’ destination in Africa. This forum will enhance that position, will bring in more funds, will develop our power, oil, transport, agricultural sectors. We are reconfirming our leadership position despite our challenges “, the minister explained.

The minister noted further that the forum been hosted on behalf of Africa by Nigeria will also “strengthen Inter- African trade and enhance common collaboration in such vital sectors as power, agriculture, transportation among others” adding that “this is new lease of life for Nigerian economy.

“So we have a lot to gain and I think we should accept that hosting the forum is a vote of confidence in our leadership position in Africa.

 

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