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Uduaghan, in London, tells investors Nigeria is a profitable haven

Source: pointblanknews.com
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With the deepening of the privatization of state enterprises and

investment in the development of critical infrastructure, Nigeria now

offers the best destination for investments in Africa, Delta State

governor, Dr. Emmanuel Eweta Uduaghan, has said.
Speaking in London where he addressed British investors at the Institute

of Directors (IOD), Uduaghan said the Nigerian government has effected a

paradigm shift from reliance on crude oil as the driver of the economy.

According to him, investment in power sector, agriculture and

manufacturing offer investors new vistas with yields that may not be

obtainable anywhere else.
He spoke in a keynote speech at an event marking the Commonwealth Day

Observance Service and the Nigerian Centenary celebration Tuesday in

London and asked British investors looking to invest in Africa to come to

Nigeria.
In Uduaghan's words, “there are strong reasons for anyone to invest in

Nigeria at this time, because the country is a haven for profitable

investment.
“There is a bright future for Nigeria in terms of investment. The

environment is right and is truly a destination for those investors

heading to Africa.”
Uduaghan who spoke on “Perspectives on Sustainable Development in

Nigeria's Delta: The Delta Beyond Oil Initiative” said while oil remained

a major resource, “we recognise its finite characteristic and that

dependence on it in the way we have done, since it started to create

wealth in the country would deny us other opportunities.

In a press release issued in London by the Delta State Commissioner for

Information, Chike Ogeah, who accompanied Uduaghan on the investment

drive, the governor illustrated the concept of his Delta Beyond Oil

initiative which has become a template for the transformation of Nigeria's

economy.
The initiative is designed to harness the potentials in other sectors of

the economy to boost agriculture, boost small and medium scale enterprises

and create employment.
“We know that examples abound around the world of countries that have

tapped mainly human endowment to jump to the front ranks of societies in

the world. The concept of Delta Beyond Oil was harnessed to mobilise the

citizens, statesmen, lawmakers, civil servants, college professors,

students, professionals, farmers and artisans that oil and gas may be good

for now, but the future belongs elsewhere in the powers of the mind to

generate wealth and well-being for ourselves and generations to come.”

Uduaghan said his government is providing enabling environment for

investment in Delta State by focusing on infrastructure and human capital

development as well as peace and security.
He told British investors at the meeting that the federal government has

been of tremendous support to the state as part of a drive to attract

Foreign Direct Investment (FDI) for the country as a whole.

“The Federal Government of Nigeria working closely with the Delta State

Government is also building a multi-million dollar landing jetty in

Okwagbe, a community located along the tributaries of the River Niger to

support the state's transport infrastructure,” he explained.

He listed one area where investors can partner with the state as tourism

sector. According to Uduaghan, investors are now taking the advantage of

the peaceful environment in Delta State to invest in tourism.

“Following our sustained drive in this area, a lot of tourism and

hospitality industries are now springing up in the state. The biggest is

the $240 million Delta Leisure Park by a private investor in partnership

with the state government. We are also encouraging medical tourism by

improving on the quality of secondary and tertiary hospitals just as we

are encouraging private investment in healthcare.”

The IOD Director General, Simon Walker praised Uduaghan and other Nigerian

leaders effort at repositioning the country for the future, saying “It has

been remarkable one hundred years for Nigeria. It is befitting that during

the centenary celebration we should celebrate Nigeria's economic progress,

the demography, the opportunities and the challenges that Nigeria face. I

have no doubt that during this century we will be talking about Nigeria as

one of the largest economy of the world.
I hope that our two countries can come together to take advantage of these

opportunities.
Also, Lord Watson of Richmond said, the population of Nigeria and its

diversity is what any investor should be concerned with. “When people

think about Nigeria, they don't think about the past, they focus entirely

on its present. That is of great importance.  The population and diversity

are source of strength for any nation. Nigeria and its dynamic growth and

population are something that is in the mind of everyone who thinks about

Africa.”
He explored the relationship between Nigeria and United Kingdom as good

opportunity to consider by British investors saying, “our two nations are

characterised by diversity. There is always a tension between diversity

and unity, but the truth is we must tolerate each other and move beyond

tolerance to protection.
The Minister of Power, Professor Chinedu Nebo who attended the event

impressed the audience with the strides that Nigeria is making in the

power sector with the privatisation of the electricity company.

He said that with the current investment in power plants in the country by

the government and the private sector, in a few months the power

generation and distribution in the country will make Nigeria the best

economy in Africa.