By Ronke Badmus

Saturday, 6 Nov 2010

 

The Federal Government has said it will not relent in its efforts to boost investor confidence in the Nigerian economy to facilitate quick economic recovery.

President Goodluck Jonathan said this at the opening ceremony of the 24th Lagos International Trade Fair on Friday.

Jonathan said, ”I wish to assure you that my government will not relent in its efforts to address infrastructural challenges, guarantee the safety of life and property.”

The President was represented by the Minister of Commerce and Industry, Senator Jubril Martins-Kuye.

The president added, ”Government will also collaborate with all stakeholders to ensure that policies evolved by government are implemented to boost business confidence and enhance economic recovery.”

He said one of the key achievements of the government was the contracts awarded for 96 power projects at a cost of $1.914bn to boost electricity supply for the development of all sectors of the economy.

Jonathan added that the theme of the fair, ‘Promoting Business Confidence to Enhance Economic Recovery,‘ was not only apt but timely.

Also, the President, Lagos Chamber of Commerce and Industry, Chief Femi Deru, said, ”The global competiveness report of the World Economic Forum revealed a decline in the ranking of Nigeria from 99 in 2009 to 121 in 2010 in a survey of 133 countries.

”We believe that with the right mix of policies, attitudes and orientation, we would do better in our ranking and generation of investment.”

He said the economy was bound for transformation leading to overall prosperity for the citizens of Nigeria, if it was competitive enough.

Deru said with increased investments flows, arising from increased business confidence, more jobs would be created.

”Additional incomes would be generated and there would ultimately be poverty reduction,” he said.

Source: Punch