New York, 28 September 2022 (TDI): The government of Nigeria and the African Business Roundtable organized an event on the sidelines of the 77th session of the United Nations General Assembly.

The President of Nigeria, Muhammadu Buhari, and President of African Development Bank (AfDB) Group, Akinwumi Adesina, urged global businesses and leaders to boldly invest in Nigeria.

Highlights of event

The Nigerian President said “Overall, the Nigerian economy is ripe for increased investment” as he was highlighting his government’s measures to tackle insecurity and improve the country’s business climate.

He said that “Our administration has put in much investment in improving security, and we are committed to doing much more. We will continue to give all necessary support to our security outfits to ensure they can tackle the challenge headlong.”

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The President of the African Development Bank said “To attract greater foreign direct investment to Nigeria, we must fix the security situation. Capital does not like to be troubled. Ultimately, investment capital must be made comfortable.”

“Only then can it be attracted. With the right conditions in place, we can confidently say Nigeria is a great investment destination.” He added while speaking about the security situation in Nigeria.

President Buhari outlined the steps his administration has taken to further the nation’s economic development, including stepping up policy reforms, enhancing governance, and stimulating public-private investments in the nation’s physical, human, and social infrastructure.

He said that “Nigeria could be the fastest growing African economy by 2050 and could move up the global GDP ratings to 14th in the same year, provided we succeed in our efforts to diversify the economy away from oil and strengthen its institutions and infrastructure.”

The Nigerian President also outlined that the war in Ukraine and the lingering impacts of the Covid-19 pandemic had affected Nigeria’s growth.