Vision 2020 - Country Needs $600bn - DFI

This Day (Lagos)
NEWS
29 February 2008
Posted to the web 29 February 2008

By Imam Imam
Gusau
Nigeria needs no fewer that $600billion Direct Foreign Investment in the next 12 years for the Vision 2020 policy to become a reality, and steps will be taken to achieve the target.

Fielding questions from journalists yesterday in Gusau, Minister of State for Foreign Affairs, Alhaji Tijjani Kaura said all hands must be on deck to achieve the figure, adding that one sure way of realising the target is to keep faith with President Umaru Musa Yar’Adua’s 7-Point agenda currently being implemented in the country.

He said President Yar’Adua’s growing reputation among world leaders will play a key role in realising the objectives of the Vision 2020, adding that his current state visit to China will go a long way in boosting investors’ confidence to put their money in the country.

“It is the President’s view that Nigeria should be among the 20 largest economies of the world by the year 2020 and the road map is the seven point agenda. So we have a destination that we have to reach in the next twelve years.

The seven point agenda is the instrument we are going to use, but then, foreign direct investment coming into Nigeria is the only solution to this 2020 vision,” said the Minister.

He added that “we have to get foreign direct investment into this country and statistically we need about $600b worth of investment into Nigeria in the next 12 years so as to put Nigeria into the 20 largest economies of the world.

And for us to do that we have to look at developed countries to see what economic relationship we can have with them so that we can get this foreign direct investment into Nigeria, and that is precisely why Mr. President is in China.’He said Nigeria is ready to partner with all countries in the world without prejudice to other political relationship that exist between Nigeria and those countries.

He said the security situation of the country will be improved within the next few months so that investors will have a conducive atmosphere to invest in the country.

The Minister said the recent dialogue held with Niger Delta people was part of the steps taken by Yar’Adua administration to ensure that peace returned to every part of this country particularly the Niger Delta area.

“I want assure all that in the next four to five months Nigerians will see lots of changes on security situation in this nation.”