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Published On: Fri, Mar 2nd, 2018

We welcome increased foreign investments, Buhhari tells investors

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R-L: President Muhammadu Buhari receives the Father of Emir of Qatar, Sheikh Hamad Bin Khalifa Althani during a business meeting, at the State House, yesterday in Abuja.
Photo: State House

By Lawrence Olaoye

President Muhammadu Buhari has told Qatari investors that his administration welcomes more foreign private investments in the country.
The President, in a statement released by his Spokesman, Mallam Garba Shehu, said there were increased foreign investments in the country because of the success of his administration’s economic agenda.
According to him, Buhari made the statement while speaking at a meeting with a Qatari business delegation led by the former Emir, Sheikh Hamad Bin Khalifa Al-Thani at the State House, Abuja, the President described the Federal Government’s economic agenda as one designed to move the country from over-reliance on crude oil and food importation.
He said the policy has, in the past two years turned Nigeria into one of the most attractive investment destinations in Africa.
According to the President, “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 young and energetic population. And we have a very strong legal and regulatory system that protects capital and investments, both local and foreign.
“As you are aware, Nigeria just exited its worst recession in more than two decades. We have more than doubled our foreign reserves. 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 cited the current strategic partnership between Moroccan and Nigerian fertilizer companies as part of the success stories.
“Today, due to this alliance, Nigeria has over 13 functioning fertilizer blending plants with another four in the pipeline. This is purely driven by the private sector,” he noted.
In his remarks, 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.
He also expressed his delegation’s interest in investing in Nigeria’s oil, railway, aviation and power sectors.

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