During a press briefing after the 2023 Nigerian Economic Summit in Abuja on Wednesday, the Minister of Budget and Economic Planning, Sen. Atiku Bagudu, expressed his conviction that Nigeria provides a secure and promising environment for foreign investors. He emphasised the nation’s investment potential despite ongoing challenges and highlighted the proactive efforts of President Bola Tinubu to address these issues.
Bagudu stated, “Nigeria is an investment haven for investors, despite being faced with some challenges that President Bola Tinubu is currently working on, and the result will show soon.” In the face of these challenges, the government has remained steadfast and is fostering economic growth across the entire country.
Acknowledging the resilience of the Nigerian people, Bagudu noted, “Nigerians are a very resilient people. That we can gather the private sector to talk about putting money in Nigeria is a statement of resilience. Investments, particularly by the private sector, is a statement that we believe in our economy, and these investments help us to dominate our environment.” He went on to highlight the positive progress being made in regions previously affected by insecurity, with economic activities resuming and people benefiting from various reintegration programs.
He further emphasised that challenges and hardships are not unique to Nigeria, noting that many countries have emerged stronger after facing similar difficulties. Bagudu also reassured the public that President Tinubu has a robust budget plan for the country.
Mr. Olaniyi Yusuf, Chairman of the Nigerian Economic Summit Group (NESG), emphasised the significance of the annual summit for the nation’s growth and development. He pointed out that the summit has played a vital role in influencing implementable policies. Policies such as the removal of fuel subsidies and the passage of the Petroleum Industry Act, among others, have been initiated as a result of previous summits.
Yusuf shared that there are plans to replicate the summit’s success at the sub-national level. He highlighted the anticipated outcomes of the summit, which include a public declaration by the president of his administration’s readiness to collaborate with the private sector. He challenged the private sector to come forward with innovative ideas, recommendations, and solutions.
While the National Economic Summit will continue in Abuja, there are also plans to work with the governor’s forum to host regional summits at the sub-national level. Yusuf emphasized the importance of focusing on positive aspects and recognizing and celebrating successes. He praised the president’s commitment to partnering with the private sector for national economic growth.