The Minister of Information and Culture, Alhaji Lai Mohammed, said the Buhari administration has laid the necessary groundwork for the growth of the nation’s economy. He also urged investors to take advantage of the government’s efforts by investing massively in Nigeria.
The Minister, who made the call in London on Thursday, at a breakfast meeting with investors, lawyers, the business community and diplomats with ties to Nigeria, said the country – as the largest economy and political powerhouse in Africa – represents a highly attractive market and investment partner.
“Not only is our administration positive about our economy’s outlook, but the $5 billion in foreign investment that we have secured after the recent elections signals that you, the international community, share our positive outlook and confidence in the administration’s policy,’’ he said.
Mohammed said in the past four years, President Muhammadu Buhari, has led the nation’s economy from recession to growth through his Economic Recovery and Growth Plan (ERGP), in addition to diversifying the economy.
“While there is no denying that oil remains an important part of the economy, we have diversified, with real GDP growth being driven by the expansion of non-oil activities,’’ he said, adding that the service sector, for example, is responsible for 54 per cent of GDP and has become the primary driver of growth for the economy.
The Minister said Nigeria’s successful battle against insecurity and corruption has made the country an advocate for transparency and accountability in Africa, while further strengthening its economy.
On the recent general elections, he said the re-election of President Buhari is a validation of the fact that Nigerians recognised the change and transformation that the administration has brought to the country.
He however described as disappointing and deeply irresponsible the attempts by the opposition to discredit the election and undermine the democratic choice of the Nigerian people, adding that local and international observers have described the elections as credible.