Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, said on Friday, in Instabul, Turkey, that the Federal Government was committed to mobilising quality investments into Nigeria’s non-oil sector.
Agba disclosed this in a keynote address he delivered at the 13th Bosphorus Summit, themed: “Great Transformation: Driving Forces of Global Change”.
He said at the summit: “Let me take this opportunity to reassure prospective investors that the Nigerian Government acknowledges the need to sustain and readily fine-tune policy initiatives towards tackling business constraints that will mobilize quality investments (both domestic and foreign) into the non-oil sector in line with the objectives for maximizing opportunities under African Continental Free Trade Agreement (AfCFTA).
“Nigeria has great investment potential with the large market size based on its population and the willingness of the government to create the enabling environment that will attract the much needed Foreign Direct Investment into Nigeria.”
He also highlighted the fact that the scale of funding and technical support required to implement Nigeria’s National Development Plan 2021 – 2025 was far beyond the scope of individual governments and multilateral funding agencies.
“Thus, Nigeria is using this unique Forum, to canvass for private sector funding and technical know-how within the global partnership to fill this funding gap and to operationalize the policies and actions outlined in the Plan.”
Agba explored the trajectory of the National Development Plan (NDP) 2021-2025 and government’s concerted efforts in prioritizing the creation of a conducive investment climate to spur growth and job creation in all sectors of the economy, with various positive results to show as attested to by Nigeria’s continuous rise in the ease of doing business ranking and other international business climate rankings.
He underscored the huge investment requirement and potential in the transport sector, which had played a key role in contributing to the country’s GDP and other areas with potential for impressive returns in the economy.
Stay ahead with the latest updates! Join The ConclaveNG on WhatsApp and Telegram for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
