FG Seeks Local, Foreign Investors To Close Infrastructure Gap

…Showcases Investment Opportunities

ABUJA – Federal Government on Tuesday disclosed that Nigeria has huge infrastructure gap and appealed to both local and foreign investors to take advantage of investments opportunities.

Professor Yemi Osinbajo, the Vice President and Chairman National Council on Privatization, made the disclosure at a webinar on investment opportunities in Nigeria’s privatization and economic reform programme, organized by the Bureau of Public Enterprises (BPE) in collaboration with the Nigerian investment promotion.

The Vice President said there is a shortfall in Nigeria’s infrastructure and given the limited resources government alone cannot provide the financial outlay needed to meet the very huge infrastural gap and the needs of the economy hence it is imperative that the country make use of Public, Private Partnership (PPP).

He noted that the investors webinar will draw attention to the fact that past sectoral reforms in Nigeria has brought about increased opportunities and extensive economic and social gains.

The Vice President recalled that the pension reform which replaced the contributory pension scheme led to the creation of Pension Commission (PENCOM) which now has over N12.3 trillion in pension fund assets while reform in the telecom industry increased the telephone lines from 450,000 to well over 140 million active telephone lines in the country.

According to him, an article of faith of this Government is mobilizing private capital and participation for improving efficiencies and driving economic growth.

Osinbajo assured that Federal Government consider it an important duty to create an enabling environment for the much needed investment inflow.

“We invite all investors from within Nigeria as well as our foreign partners, financial institutions, and international investment community to take advantage of the opportunities offered by the Nigerian economy” he said.

Also speaking, Alexander Okoh, the Director-General, Bureau of Public Enterprises (BPE), said the webinar was organized basically to showcase the huge investments opportunities in Nigeria such that investors can take advantage of them.

Okoh said about 850 persons participated in the webinar across the world, stressing that even though they were not categorized, huge proportion of these participants may be potential investors.

The BPE boss declared that in the current fiscal year alone, the total number of project in the country’s investment space should be able to generate N500 billion.

“Investment opportunities in Nigeria is very huge and it is important that we have a forum like this to make these opportunities known to the various investors and our partners, both local and international to take advantage of these huge investment opportunities.

“From our own schedule for the current fiscal year, the total number of projects quoted into the investment space should be able to generate proceed in the region of N500 billion” he said.

Mrs. Zainab Ahmed, Minister of Finance, Suleiman Adamu, Minister of Water Resources, Engr. Mamman Saleh, the Minister of Power, Babatunde Fashola, Minister of Works and Housing are among dignitaries who presented existing investment opportunities in their various ministries while Mr. Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN) also gave into what the apex bank is doing to stabilize the economy.

Read the Source post on Independent Newspaper Nigeria.

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