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New industrial plan to encourage greater foreign investment in Nigeria is coming – Jonathan

By on May 9, 2013

President GoodlucK Jonathan has said that the Federal Government is working on a national industrial revolution plan to further encourage investors and local production.

President Jonathan was speaking to a delegation of Nissan South Africa in Cape Town, South Africa, yesterday, in the course of his state visit to South Africa during which nine agreements covering different areas of economic and technical cooperation between both countries were signed.

“Nigeria is working on a new industrial revolution plan that will further promote investments in every sector of the Nigerian economy, and strengthen areas in which the country has comparative advantage,” the President said, adding that the aim is “to create a win-win situation for both investors and the Nigerian people”.

President Jonathan said that the Federal Government is committed to stimulating local production in various sectors in the overall interest of Nigerians, especially in the automobile sector.

Earlier, the Managing director of Nissan South Africa and leader of the delegation, Mr. Mike Whitfield, said the Nissan Group is interested in investing in the automobile sector in Nigeria in collaboration with their business partners, and called for an industrial framework and the right policy environment to encourage investment flows.

At another audience, President Jonathan commended the MTN Group for investing in the telecommunications sector in Nigeria.

The President stated that government will continue to provide the necessary infrastructure to ensure a conducive environment for investments in the sector to thrive.

The Chairman, MTN Group, Mr. Cyril Ramaphosa thanked President Jonathan for the enabling environment for business in Nigeria, and pledged that MTN will continue to be a good corporate citizen.

President Jonathan, who is also participating in the World Economic Forum in Cape Town, had also co-chaired a meeting of the Nigeria/South Africa Business Forum with President Jacob Zuma, where far-reaching agreements were reached about economic cooperation and definite steps to be taken to facilitate investments in both countries.

REUBEN ABATI
Special Adviser to the President
Media and Publicity

May 9, 2013