President Buhari Makes Another Promise

President Muhammadu Buhari on Tuesday, July 21 assured international investors of “improved moral architecture” in his administration.

The President said that his administration would continue the major privatisation programme started by previous governments but with a standard that is based on proper ethics.

He also promised to ensure that the process of procuring Nigerian visa by investors was simplified.

This assurance was given at a business forum organised by the United States Chamber of Commerce and The Corporate Council on Africa in continuation of his four-day official visit to the US.

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Buhari urged the US investors to take advantage of the nation’s liberal trade and investment climate to invest in various profitable ventures available in Nigeria

He said that his government’s goal was to continuously create an enabling environment for future investments to thrive in the country.

“It is my intention to create the necessary environment for future investments in Nigeria. We are the most populous nation with the largest market in Africa with vast human and natural resources and blessed with abundant young skilled workforce.

“We are, therefore, a proud candidate to become the destination of choice for the United States investments in Africa. I will work assiduously to welcome new investors to our country,” he said.

Adding “I will like to remind you all that we are continuing with the major privatisation programme with sectors ranging from telecommunications to energy, gas, solid minerals, aviation, health and infrastructural development, but with improved moral architecture.

“We will also simplify visa procedures based on the principle of reciprocity.

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“May I, therefore, seize this opportunity to formally invite the American business community to take advantage of our liberal trade and investment climate to do profitable business in Nigeria.’’

The President further obliged the US business community to make the best of the excellent political relations between the two nations to expand trade and investment activities, including joint venture projects in priority sectors of the Nigerian economy.

He stressed that the private sector must assume a more prominent role as part of the engine of growth.

Buhari made it categorically clear that his government would welcome genuine investors who were willing to engage in solid minerals exploration in Nigeria.

He affirmed that his administration would make good its key campaign promises, including the creation of employment opportunities for millions of Nigerian youths.

The President said:“Employment generation was one of my key campaign promises. I will do my best to keep this promise. There is no other way to expand economic opportunities and create employment opportunities for millions of our youths than boosting domestic manufacturing, undertaking infrastructural development and industrialisation.

“Let me repeat, Nigeria will partner with genuine investors who are willing to join us to achieve our economic objectives and at the same time realise handsome returns to recoup their investments. There is more to Nigeria than oil. This is why I will continue to stress the need for increased United States investments in our non-oil sector.

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“In this respect, the present administration will be attentive to the needs of the business community and pursue policies that will strengthen the sectors that drive the growth.”

He added that there would be a focus on prudence, accountability, good governance, respect for the rule of law, strict compliance with and observant of contractual agreements.

Buhari noted that Nigeria had enormous economic potential that required heavy funding, which could not be sourced locally in the country.

The Chairman, Corporate Council on Africa, Mr. Paul Hinks, in his remarks, expressed the readiness of American investors to do business with the new government in Nigeria.

He went on to invited Buhari to chair the council’s summit scheduled for Ethiopia come November.

In a related development, good times seem to be here, as Nigeria along with the UK and other countries may be returned to the eligibility list of the US Visa Lottery program.

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