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President Jonathan demands for US support to boost economic growth

By on August 7, 2014

President Jonathan 1President Goodluck Jonathan, on wednesday pursued greater support from the United States in an effort to make other sectors of the Nigerian economy more productive. The President made the call in in Washington DC, USA.

He stated that while oil and gas remained Nigeria’s main source of income and foreign exchange, his government was working tirelessly to fully expand the country’s economy.

A statement on Thursday by his Special Adviser on Media and Publicity, Dr. Reuben Abati, quoted the President as speaking at a dinner held in his honour by the United States Chambers of Commerce and the Corporate Council on Africa.

President Jonathan expressed joy that the volume of trade between Nigeria and the United States has raised to a record level of $36 billion per annum. He said the volume would continue to rise with greater cooperation between Nigeria and its partners in the United States Government and private sector.

President Jonathan added that his administration welcomes the support of the Obama administration in the ongoing efforts to positively change the Nigerian economy and make sure that it becomes one of the twenty largest economies in the world by 2020.

He further demanded for greater direct investment in Nigeria from the US, stating that recent growths had shown that President Barack Obama was right when he spoke in September last year, of increasing international recognition of Nigeria’s role in the global economy.

“Our economy has since been re-based and it is now the largest in Africa. We are the 26th largest economy in the world and the largest trading partner of the United States in Africa. Latest figures show the volume of trade between Nigeria and the U.S. to be $36 billion and still counting. Between last year and now, we hosted the World Economic Forum on Africa which was attended by 1,000 participants from 70 countries. The Forum attracted over $68 billion in investment to the African continent in the form of Foreign Direct Investments, as well as private and public investments targeted at projects that would foster the agriculture sector, improve infrastructure such as roads, railways, hospitals, education, skill development and ICT across African countries.

“We remain the largest source of natural gas and have large areas of unexploited fertile lands for agriculture. We have a huge stock of untapped solid minerals and we continue to make Nigeria an attractive destination for foreign investors through the constant implementation of our policy of creating an attractive and conducive climate for investors’’. President Goodluck Jonathan held.

Finally, Jonathan guaranteed American investors that his government was taking all basic action to bring the Boko Haram insurgency to an end and achieve greater security of lives and property in all parts of Nigeria.