FG targets fresh 190 investors from 40 nations

Govs harp on need for improvement in infrastructure, security, electricity supply
The Federal Government is targeting to get fresh investments from over 190 investors from 40 countries in key sectors of the economy.

Executive Secretary, Nigeria Investment Promotion Commission (NIPC), Yewande Sadiku, stated this yesterday in Abuja at the opening session of the 2018 Direct Investors’ Summit (DIS) organised by the commission.

The event was attended by Minister of Budget and National Planning, Senator Udo Udoma; his Power, Works and Housing counterpart, Babatunde Fashola; Aviation Minister, Hadi Sirika; Minister of Investment, Trade and Industry, Dr. Okechukwu Enelamah and four state governors.

Sadiku said the commission presently has a seamless collaboration with the states to enable it monitor closely investments inflow into the country.

Enelamah, in his opening speech, said government had started experiencing huge interest from investors in the last 15 months with a total investment commitment portfolio in excess of over $83 billion.

He said the investments commitment of $83 billion were secured in three key sectors of the economy, especially in oil and gas, manufacturing and real estates.

Enelamah said consultations were in progress to ensure that the government signs a pact that would be beneficial to the general interest of the Nigerian economy.

Also at the summit, governors of Kaduna State, Malam Nasir El-Rufai; his Osun State counterpart, Rauf Aregbesola; Anambra State Governor Willy Obiano, as well as Ogun State Governor Ibikunle Amosun, expressed fears that efforts put in place at the state level to promote the ease of doing business and economic diversification may not yield rapid successes except there is a strong commitment on the part of the Federal Government to assist in tackling the problems of insecurity, power and poor infrastructure.

Obiano said that Nnewi is known for its industrial growth and capacity, but we don’t have electricity to stabilise the industries.

While El-Rufai urged the Federal Government to assist in combating insecurity, Aregbesola solicited for government’s and investors’ collaboration to successfully tap the abundant bitumen deposits in the state.