New York – Nigeria’s investment potentials support private sector and are increasingly becoming more open and transparent, President Goodluck Jonathan, said on in Thursday New York.

Declaring open an International Investment Summit on Nigeria’s economy in New York, Jonathan said positive results had been recorded on the anti-corruption campaign, security in Niger Delta as well as safety in the air transportation sector.

“The positive results being recorded from our anti-corruption work has greatly reinforced our confidence that the war on corruption will be won, even if slowly, but certainly surely.

“In the area of peace and security, particularly in the Niger Delta, success in the implementation of the government amnesty programme has been outstanding.

“Today, the implementation of the Niger Delta Development Master plan is on a more meaningful and sustainable path.”

Jonathan told investors at the summit held on the sidelines of the 66th UN General Assembly that Nigeria’s real GDP growth expanded to 7.4 percent in the first quarter of 2011.

“With interest rate at single digit and well controlled inflation at 12 per cent as well as a banking system that is now supportive of the real sector, it is clear that the growth target will be attained.

“We are looking beyond oil and gas, to critical growth drivers such as agriculture, industrialisation, small and medium enterprises, construction, telecommunications, health care, retail and the informal sector.”

The Nigeria leader assured the prospective investors that government was doing all within its reach to address the long standing challenges in the power sector.

He told the summit about the recent launch of reform projects in the power sector that would ensure efficient power generation, transmission and distribution to support industrialisation by 2012.

Jonathan reiterated that Nigeria was on the track of becoming one of the largest 20 economies in the world by the year 2020.

He cited recent reports from key global investment houses, including Goldman Sachs, Renaissance Capital, which considered Nigeria as the major economic miracle to happen in the next decade.

“According to Citigroup, Nigeria will get the highest average GDP growth in the world between 2010 and 2050.

“Nigeria is one of two countries from Africa among 11 Global Growth Generator countries.’’

The forum, organised by the African Business Roundtable, was attended by U.S., Europe, Asia investors with dozens of Nigerians in the Diaspora.

Nigeria’s Ministers of Power, Petroleum Resources, Works and Housing and Agriculture also attended the event.

-Vanguard

Posted by admin on Sep 23 2011. Filed under Latest Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry