Nigeria will sustain position as number one investment destination in Africa, Buhari assures French investors

President Muhammadu Buhari said Tuesday in Paris that one of the key objectives of his administration's ongoing economic reforms was to restore the confidence of investors in the Nigerian economy.

Addressing leading French businessmen and investors at the headquarters of the Movement of the Enterprises of France (MEDEF), President Buhari also reaffirmed his government's determination to curb corruption in Nigeria.

"Our ongoing economic reforms are designed to restore business confidence and block leakages and wastage of public resources. We are also focused on the recovery of stolen wealth belonging to the country," the President told participants in a Nigeria/France Investment Forum.

President Buhari said that his administration will do all within its powers to sustain Nigeria's position as the number one investment destination in Africa.

"With a blessed land, rich in agricultural and mineral resources, skilled and low-cost labour, large market, a robust and competitive private sector anchored on investment policies and legislation to guarantee predictability and consistency with global business practices, we are poised for double digit growth.

"There is much more to our country than oil and we are determined to consolidate on industrializing Nigeria and diversifying its economy.

"The privatisation of key sectors of our economy, which was started under previous administrations, will be pursued and expanded to include other sectors. This exercise will be conducted in an open, transparent and competitive manner.

"We recognize the private sector as the engine of growth and a veritable partner in our economic agenda, and will therefore give the fullest possible support to foreign and domestic entrepreneurs.

"Our administration is poised to redress the serious infrastructural gaps in Nigeria, raise production to create more jobs, build capital and stimulate further growth and prosperity of the country," President Buhari told the entrepreneurs.

Pierre Gattaz, the President of MEDEF, announced that the umbrella organization of about 800,000 French manufacturing firms and businesses will undertake a trade mission to Nigeria next month.

Mr. Gattaz said that the MEDEF trade delegation will comprise of prospective investors in agriculture, mining, automobiles, energy, skills development, light manufacturing, food processing, transportation services and many other areas.

Garba Shehu
Senior Special Assistant on Media and Publicity.
15-9-15