ABUJA (Office of the Vice President Report) - The Nigerian Government has reaffirmed its commitment to the realization of the Transformation Agenda, saying it is already yielding impressive results. President Goodluck Jonathan represented by Vice President Namadi Sambo stated this at the 16th Meeting of the Honourary International Investors Council (HIIC) in Abuja. Adding, Nigeria is now one of the strongest economic performers in Africa and for the second year, the United Nation’s Conference on TRADE and Development has declared Nigeria as the number one recipient of Foreign Direct INVESTMENTS (FDIs) in Africa. He also noted that the World Economic Forum on Africa hosted by the country earlier this year has recorded impressive attendance with pledges of sizeable additional INVESTMENTS into the economy. He further said that the Nigerian Industrial Revolution Plan which was launched recently would increase the size of the manufacturing sector from the current 4% GDP to 10% GDP by the year 2017. “This strategic industrial plan focuses on four main areas - light manufacturing, agro-businesses, petro-chemicals, solid minerals and metals. It will help to develop the non-oil sector, fast-track our industrial development and create millions of jobs for Nigerians,” he said. “In the agricultural sector, the reform effort of the federal government has produced substantial outcomes in the Agricultural Transformation Agenda (ATA). Through the growth enhancement scheme, we have provided subsidized farming inputs to over four million farmers. Last year alone, over 250,000 famers were engaged in producing 1.1 million metric tonnes of rice during the dry season.” The President also said that many young women across the country have been trained and equipped with farming kits for fishery, snail keeping and livestock. He added that the service industry in the country constitutes about 51% of the GDP by the recent rebasing results and Government is INVESTING in areas like ICT and the creative industry to generate more of such jobs which would be key to making the recent economic record more inclusive. On the education sector, the President explained that his administration is improving the standard at both the States and the Federal levels and effecting teaching and infrastructure upgrade in institutions. President Goodluck Jonathan reiterated Nigeria’s position as the preferred destination for Foreign Direct Investments despite the current security challenges, saying within the last two months, the Nigerian Government has hosted several business delegations from all over the world, including a Chinese delegation of 100 businessmen, 75 Kenyan businesses men, 18 Swiss investors and the second largest business enterprise in China – ‘Fortune 500 Company, which pledged to invest in Nigeria’s transmission and power generation sector. While stating his administration’s commitment to ensuring security for the lives and property of the citizenry as the security forces confront terrorism and all forms of insurgency seeking to undermine the security of the nation, the President averred that the Government will remain unyielding and reinforce its defences to rid the country of terrorism and the forces of evil threatening peace and development. Also speaking, the coordinator of HIIC, Baroness Lynda Chalker said that some children in primary schools in Nigeria do not COMPLETE their education and that was why the session would want to focus on education. She added that Nigeria’s progress depends on power supply which is premised on gas reforms, the management of the transmission company of Nigeria, fuel supply to power plants, speedy implementation of renewable energy and the progress plan for developing domestic gas utilization. “Power and education are the heart of what must be achieved. She said that the HIIC was established in 2004 and holds two meetings per each year. She further described it as an organization of prominent investors from around the world that advises the Nigerian Government on matters pertaining to the countrys economic development. The councils goals include REDUCING political corruption, helping Nigeria to become Africas biggest oil producer, attracting investment in the country from the privatesector and from foreign countries and making Nigeria more competitive in the global economy
Posted on: Wed, 07 Jan 2015 08:24:10 +0000
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