Buhari begs French firms to take advantage of investment opportunities in Nigeria

President Muhammadu Buhari on Wednesday listed his administration’s efforts at ridding Nigeria of terrorism and other security challenges.

The President said the government has continued to implement a multi-sectoral approach in the fight against terrorism, banditry, and other challenges.

Buhari, according to a statement issued by his Special Adviser on Media and Publicity, Femi Adesina, stated these at the Nigeria International Partnership Forum in Paris, France.

He said that the Nigerian economy was being re-engineered and re-positioned to become globally competitive.

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The President said: “As I said at the 5th edition of the Future Investment Initiative Summit in Riyadh, Saudi Arabia, investing in humanity is investing in our collective survival. With this in mind, we have incorporated the Public-Private Partnership model into our economic recovery plan, to attract private sector participation in the financing and operations of critical economic and social infrastructure.

“This measure is already helping to mitigate COVID-19 triggered capital flight and decline in grant and development financing.

“Hence, the massive infrastructure expansion programme, we have been executing in various sectors since the beginning of this administration. $1.5 trillion is the cumulative amount estimated to be spent within a period of 10 years from 2015.

“So far, we have made significant investments in railways, seaports, roads, renewable energy, housing, and many others attractive to prospective investors. Institutions such as the Nigeria Sovereign Investment Authority and the recently created Infrastructure Corporation of Nigeria run as independent world-class institutions to support and facilitate investments in the country.

“To keep the progress in the digital economy, the fastest growing sector in Nigeria in both 2020 and 2021 on track, we recently approved the national policy on Fifth Generation (5G) network.

“Our ultimate goal is to leverage ICT platforms to spur further investments and create jobs while diversifying support to other emerging sectors. Already, several foreign investors are taking advantage of our recent ranking as the leading start-up ecosystem in Africa.”