President Muhammadu Buhari of Nigeria has stressed that the initiative has become an interactive platform among the public and private sectors that will support development, growth and prosperity in the world.
During his speech at “Future Investment Initiative” which is being held in Riyadh Tuesday; he indicated that the humanitarian approach to investment is the only way to address the international challenges, especially in the (COVID-19) pandemic.
Continuous and sustainable efforts
He added, there are continuous and sustainable efforts to address; and mitigate its social and economic implications until reaching economic recovery; stressing that investing in humanity is investing in collective survival.
“The Federal Republic of Nigeria has public-private partnerships that contribute to increasing investments in the health and education sector, which ensure capacity building, youth empowerment, gender equality, poverty eradication, climate change and food security,” he also said.
He also stressed that Nigeria has taken upon itself several decisions that will ensure the existence of investments that guarantee a prosperous long-term future, by diversifying the economy away from oil to be more inclusive of agricultural and other sectors.
Buhari indicated that 30% achieved in increasing production; and an agricultural law issued that represents a catalyst for the oil sector; with providing a set of incentives, such as exemption from full property taxes; and the provision of financing, in addition to the provision of workforce and trained.
He explained that the digitization economy in Nigeria has great opportunities for investment; and the private sector can play a role in this matter; pointing out that Nigeria has many opportunities for investment.
Buhari pointed out that Nigeria is fighting corruption and embezzlement, and has flexibility towards a flexible economy in many countries; noting that the partnership with the private sector will contribute to pumping water into Lake Chad. Besides, ensure the preservation of livelihoods and decent living.