THE development of Nigeria’s infrastructure will require an active partnership between the Nigerian and American governments, which the Nigerian government is keen on cultivating and is planning to cultivate.
This is according to the Nigerian works minister, Mr. Mike Onolememen, who disclosed at a meeting between Nigerian government officials and American Corporate Council on Africa’s Infrastructure Trade Mission to Nigeria.
Mr. Onolememen also said that the partnership would help to narrow the infrastructure gap in Nigeria.
“Infrastructure development remains the major key to national development,’’ the minister said.
He commended the trade mission for keying into Nigeria’s vast investment as Nigeria remained destination choice for investors.
In his speech at the session, the Minister of Foreign Affairs, Mr Olugbenga Ashiru, said Nigeria had continued to attract investment from various countries.
“Nigeria is one of the topmost emerging markets for now and for the future.
“The challenges the country is facing in terms of security are isolated and they will not affect the overall inflow of investments into the key sectors of the economy,’’ he said.
Ashiru said the trade delegation’s visit “coincided with the currency of the Federal Government’s Transformation Agenda, especially as it affected infrastructure development’’.
He called on the delegation to harness sectors that would promote job creation.
“The area that Nigeria will want to see more investment in and interaction with should be in those key sectors of agriculture and power.
“You have quite a lot of experience in the power sector and with General Electric now opening a factory in Nigeria, that will present a big opportunity for us in this country.
“Another area you have to look into is manufacturing, because this is another one of the sectors that should be able to create jobs for our people.
“We have to also relate that whatever sector you are focusing on should be those sectors that should be able to create jobs for our teeming youths in this country,” Ashiru said.
Ms. Mimi Alemayehou, the Executive Vice-President, Overseas Private Investment Corporation (OPIC) and leader of the delegation, described Nigeria as OPIC’s “largest portfolio”.
She said Nigeria was an important market for the U.S., urging government to focus more on power to grow the manufacturing sector in the country.
“There are 17 countries that are part of the Corporate Council on Africa’s Trade Delegation, which on behalf of OPIC is the U.S. Government’s development finance institution.
“OPIC has been active in sub-Saharan Africa for about 40 years and has actually been active in Nigeria since 1972 for the entire 40 years of our history.
“Nigeria is our largest portfolio at OPIC. It is the place where we have done the most business.
“The fact that Nigeria is by far our largest portfolio does say something about Nigeria and the importance of Nigeria’s economy to U.S. industries.
“OPIC is not capital-constrained, so we will love to do more in the next couple of years,’’ Alemayehou said.