3rd February, 2011
President Goodluck Ebele Jonathan today prided Nigeria as a preferred investors’ destination, just as he assured international investors of Nigeria’s safe and productive business environment.
He stated this today while addressing the Nigerian-Turkish Trade and Investment Forum in Istanbul, which concluded his three-day state visit to Turkey.
President Jonathan said his administration recognizes the role of the private sector as the engine room to fast-track Nigeria’s growth and development hence it has taken appropriate measures to remove all impediments on the path of private sector investments in the country.
According to the President, proactive steps to improve relative laws and regulations to make the country investment-friendly are also on course.
Citing the Petroleum Industry Bill currently before the National Assembly among several instances, President Jonathan said the bill is at the verge of being passed into law, in order to facilitate a more conducive atmosphere for investment in that sector.
“With regards to the situation in the Niger Delta, the Amnesty Programme being pursued by government has brought relative peace in the region, thus ensuring security of investment,†the President said.
He assured investors of political stability in Nigeria as his administration is irrevocably committed to credible and transparent general elections in April this year.
He noted that Nigeria’s over-subscribed Eurobond issue in the international market which attracted an unprecedented diverse investor base from first class investors across the globe, is a clear indication of the growing confidence of international investors on the Nigerian economy.
President Jonathan said government is however not resting on its oars in the quest to step up infrastructural development in the country as all preparatory work for the establishment of the Nigerian Sovereign Wealth Fund has been concluded.
He said the proposed Fund will be established to address three components namely: Stabilization, to replace the existing Excess Crude Account; Savings, to cater for future generation of Nigerians; and Infrastructure, to address the infrastructure needs of the country.
While urging Turkish investors to explore the exciting investment prospects in Nigeria, President Jonathan pointed out that major macroeconomic reforms carried out by government in the last ten years have led to substantial growth of national economy as well as improved credit rating of Nigeria over the last three years by reputable international agencies.
These economic reforms, the President said, are also designed to ensure that the socio-economic climate for doing business in Nigeria is enhanced to make the country a haven for global investors.
“I encourage Turkish investors to closely interact with policy makers from Nigeria and take advantage of this forum to explore the abundant opportunities for economic exchanges and mutually beneficial relations between our two countries. This is your best time,†the President said.
Speaking earlier, Deputy Prime Minister of Turkey, Cemil Cicek, described President Jonathan’s visit to Turkey for the signing of bilateral agreements as historical and significant, saying “it will go down the annals of history as a significant step in the relationship between our two countries. Africa is the most important destination for Turkish investors and there is no Africa without Nigeria. Nigeria remains the heart and key of Africa,†he noted.
Also speaking, the President, Conference of Businessmen and Industrialists in Turkey (TUSKON), Rizanur Meral, rated Turkish construction firms as second best in world, adding that the interest of Turkish investors in Nigeria cut across construction engineering, power, oil and gas, tourism and mining sectors.
Aviation Minister, Fidelia Njeze, told newsmen after the forum that one immediate benefit of President Jonathan’s visit to Turkey as it concerns the aviation sector will be the commencement of Nigeria-Istanbul flights by Arik Airline in June this year, in fulfillment of the Nigerian advantage of the Bilateral Air Service Agreement (BASA) with Turkey.
The forum attracted captains of the Nigerian business environment including Alhaji Bamanga Tukur, President, African Business Roundtable; Alhaji Aliko Dangote, chairman, Dangote Group; Engr. Johnson Arumemi, chairman, Arik Air-Aviation; Miss Evelyn Oputu, Managing Director, Bank of Industry; and a host of other Nigerian and Turkish business industrialists.
By Oluokun Ayorinde
