The Budget and National Planning Minister, Udoma Udo Udoma (Senator) has re-emphasised the Federal Government’s determination to create enabling infrastructure for private sector participation in growing the country’s economy.
The Minister, who was speaking when a delegation from Cerberus/Dyn Corp of the United States of America visited him in Abuja on Tuesday February 16, 2016 said that government’s focus is on stimulating the environment through creating the enabling infrastructure that will entice private investors to contribute meaningfully to the economy.
Senator Udoma said the group’s interest actually fits into what the Federal Government was trying to do; since government was not going to be involved in floating and managing businesses directly. Government’s focus, according to him, is on creating an enabling environment and looking at those areas that are capable of encouraging inflow of investments from the private sector.
Speaking earlier, the spokesman for the team and former Economy and Finance Minister of Egypt, Youssef Boutros Ghali told the Minister that his group will like to participate in the turn-around of economic infrastructure in the country, including advising and financing moribund and ailing industries.
The Minister of State for Budget and National Planning, Zainab Ahmed in her remarks told the delegation that Nigeria at this time needs investors who can look at ailing and moribund industries and infrastructure and not only put in their resources into reviving them, but administer them profitability.
While going through the array of services and industries that the delegation indicated interest in, the Minister of State noted that Nigeria has opportunities in all the sectors indicated, describing as heart warming the chance of meeting with such investors with a large appetite for risk taking.
Boutros-Ghali informed the Minister that Cerebus/Dyn Corp has the capacity to fund, turn around distressed companies and rehabilitate moribund infrastructure in several areas, including logistics, technology, agriculture, oil and gas as well as pharmaceuticals.
He stressed that as the leading economy in the African continent, Nigeria needs such investments; pointing out that the current economic reforms going on in the country requires private sector support. He also indicated that the group can facilitate investments to the tune of at least $1 billion by the end of 2016.
The team which was led by the former Governor of Akwa Ibom State, Obong Victor Attah included the former Prime Minister of Guinea and one-time Executive Secretary – General of ECOWAS Commission, Kouyate Lansana and Tibo Sharon.
