Nigeria is Politically and Economically Stable for Investors – Minister

The Minister of Commerce & Industry, Senator Jubril Martins-Kuye has urged foreign investors to take advantage of the current stable political and economic climate in Nigeria by partnering with Nigerian businesses toward building a democratic, developed and prosperous nation. He made the call during the official celebration of Nigerian National Day at the ongoing Shanghai Expo 2010 taking place in Shanghai, China.

The Minister said that the Expo 2010 is a platform for Nigeria to showcase her immense investment opportunity in oil, and gas, mining, manufacturing, tourism and her rich cultural heritage to the world adding that Government efforts since its inception has been to create an enabling environment that would facilitate the promotion of business activities and to provide necessary frame work that guarantees the free interplay of market forces for the growth of private enterprise and economic freedom.

He explained that government has continued to address the infrastructural challenges militating against the sustainable growth of the real sector of the Nigeria Economic. The Minister assured investors that Government of Nigeria was determined to tackle the inadequacies of power supply which is  a major challenge to the manufacturing sector.

Senator Kuye expressed that federal government under the leadership of President Good Luck Jonathan was determined to diversify Nigeria Economy from oil to non oil exports by providing a conducive environment for manufacturing and investment to thrive in the country.

He said that government effort has been directed  towards putting in place appropriate policy instruments for the revival of the Nigerian economy towards the path of sustainable growth, open and market-oriented economy, international best practices  as well as rule of law  that would provide full protection for private property rights.

The Minister informed that Nigeria is richly endowned with a wide range of solid minerals with policies that addresses the issues of transparency, ownership, incentives and conformity with the international best practices noting that there was no state in Nigeria without the presence of at least, one solid mineral.

According to him, the vision of government for the mining sector was to aggressively reform the sector through the provision of a competitive fiscal and regulatory framework, institutional development, capacity building and the generation of reliable geo-scientific data that will aid mining investment.

Earlier, former Chinese Ambassador to Nigeria, Mr. Wang Yong Qiu pointed out that Shanghai Expo 2010 has serve as a milestone in the history of human civilization which has helps to deepen people understanding, eliminate segregation, improved cultural and economic exchanges as well as friendship for humanity. He stated that China and Nigeria will take Shanghai Expo as opportunity to strengthening cooperation in various fields of human endeavour.

The Ambassador explained that the outer wall of Nigeria pavillon at the EXPO resemble Zuma rock which is one of the seven wonder of Africa and Nigeria National colour also form an elegant and unique style at the exhibition this, he stated, has open window for people to learn about Nigeria and investment opportunity. 

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