President Muhammadu Buhari on Thursday wooed foreign investors at the ongoing seventh Tokyo International Conference on African Development (TICAD7) assuring them of good returns.
President Buhari disclosed this while presenting the country’s statement at Plenary Session Three on “Public-Private Business Dialogue” at the conference in Yokohama, Japan.
“Nigeria has very attractive investment opportunities with some of the highest Returns-on-Investment,” he declared.
The President, according to a statement signed by his Special Adviser on Media and Publicity, Femi Adesina, said he looked forward to welcoming prospective investors in Nigeria’s power and renewable energy, petrochemical and gas, maritime (shipping and ports), automobiles, mining, agribusiness, healthcare and pharmaceuticals, ICT and railway sectors.
He assured that his administration is committed to removing “all impediments to private sector participation in these sectors by creating policies that will ensure consistency, predictability and a level playing field for all.”
“I have also established a Presidential Committee on Enabling Business Environment, which is made up of key Ministries and prominent businessmen to promote the Ease of Doing Business and make Nigeria more attractive and competitive for investment.”
Reviewing Nigeria-Japan relations, President Buhari commended existing bonds of friendship and economic cooperation between both countries, describing the Asian country as “a strategic partner for our socio-economic development.”
He disclosed Nigeria’s intention to “further encourage relationships with key public and private sector stakeholders” in both nations.
Buhari expressed delight with the level of discussions on the establishment of the Japan-Nigeria Business Facilitation Council and described TICAD Forum as important to Nigeria in many respects.
He noted that his administration “has put in place measures seeking to diversify the economy by developing agriculture, emphasising on manufacturing and addressing the energy and infrastructure deficit.”
“TICAD is also coming at a time when our government is implementing home-grown and private sector-driven economic measures that are predicated on good governance, infrastructure and human capital development as well as, business climate reform,” he said.
According to him, “Nigeria and indeed Africa, expect much from this Forum in terms of investment, considering the role of Foreign Direct Investment in all economies – developed and developing.”
President Buhari also expressed Nigeria’s gratitude to the Japanese Prime Minister, Shinzo Abe, for his commitment to strengthening trade and investment between Japan and Africa.