Jonathan seeks more U.S. investment in Nigeria President Goodluck Jonathan says the volume of trade between Nigeria and the United States will continue to grow with greater cooperation between the public and private sectors of both countries. This is contained in a statement issued on Thursday in Abuja by the Special Adviser to the President on Media and Publicity, Dr Reuben Abati. It quoted Jonathan as saying this at a dinner held in his honour by the U.S. Chambers of Commerce (UCC) and the Corporate Council on Africa (CCA) in Washington DC. According to the statement, the trade volume between both countries has risen to a record level of 36 billion dollars per annum. The president welcomed the support of the Obama administration and both organisations for ongoing efforts to positively transform the Nigerian economy and make it one of the world’s 20 largest by 2020. Jonathan said in the statement that the recent developments had shown that Obama was right when he spoke in September 2013 of increasing international recognition of Nigerias role in the global economy. He, therefore, called for greater direct investment in Nigeria from the U.S. ``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 U.S. in Africa. ``The latest figures show the volume of trade between Nigeria and the U.S. to be 36 billion dollars 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 dollars in investment to the African continent in form of foreign direct investments as well as private and public investments,’’ the statement said. The statement said all African countries were targeting projects that would foster the agriculture sector, improve infrastructure such as roads, railways, hospitals, education, skill development and ICT in the continent. Jonathan, according to the statement, said that Nigeria remained the largest source of natural gas with large areas of unexploited fertile lands for agriculture. According to the statement, Nigeria has a huge stock of untapped solid minerals. ``We will 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. ``The oil and gas industry remains Nigerias main source of revenue and foreign exchange earner, but we are working very hard to fully diversify the countrys economy. ``We will welcome greater support from the United States for its efforts to make other sectors of the Nigerian economy more productive,’’ the statement quoted Jonathan as saying. Jonathan assured American investors that his administration was taking all necessary action to overcome the Boko Haram insurgency and achieve greater security of lives and property in all parts of Nigeria.
Posted on: Thu, 07 Aug 2014 16:59:47 +0000
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