Vice President Kashim Shettima says Nigeria is on the right path to becoming a safe haven for foreign Investments in view of its enviable position as Africa’s largest economy, coupled with ongoing efforts by the Tinubu administration to diversify the economy from oil, with deeper footprints in technology and the creative sector, among others.
The Vice President said this at a forum to welcome investors to a parley with Nigerian officials on the sidelines of the ongoing World Economic Forum in Davos, Switzerland.
He told the investors that the President Bola Ahmed Tinubu administration is on a drive to “bring in the entire ecosystem of investors, from private equity players, to venture capitalists, impact investors and competent contractors from all over the world to partner with us in this quest
On the potentials in the country as a major attraction for investors, the Vice President said Nigeria is currently repositioning her economy, away from crude oil dominance, with deeper footprints in technology, arts, culture, creativity and industrialisation.
Shettima maintained that Nigeria remains open to engage with willing nations on mutually beneficial and sustainable terms, underscoring why the countries a reference point for best global practices.
On efforts by the Tinubu administration in ensuring a conducive environment for investment, Shettima noted that Nigeria also totally liberalised the downstream petroleum sector, removing the burdensome subsidies and also instituted a market-driven foreign exchange market, which outlawed multiple exchange rates in the economy.
He said the country intends to participate fully in the Global Value Chains (GVC) at many levels, aiming for good value capture as it becomes even more relevant to global supply chains.
He listed priorities for the country to include, “repositioning our energy sector, investing in major infrastructure like our rail system, roads, new seaports, and digital technology for our vibrant youthful population to engage the world”.
Editor: Ken Eseni