The Nigerian government has been asked to make strategic arrangements to ensure that investments that will come into Nigeria, canvassed for at the World Economic Forum on Africa, will translate into inclusive growth.
Reviewing issues discussed the forum that ended on May 9, an economist, Pascal Odigbo, on Monday, said that “if the government and other players in Nigeria’s economy fail to make proper arrangement, the nation will continue to have a GDP that is running away at 8 or 9 per cent with the man on the street lacking needed energy to power his machine to vulcanise a car tire”.
“The government and private sector must come together. There must be a platform of direct engagement to look at all the opportunities. The agencies of government must work with the people to see that there are credible platforms of better engagement with the foreign investors,” he said, expressing optimism that more investments will come into Nigeria.
Mr Odibo pointed out that since Nigeria was included in the MINT, seen as the next world powers, investors’ interest in the country had increased, describing the increase as a fulfilment of prophecy.
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“Holding the forum in Nigeria was a major step and an investment well done but the government and the private sector need to leverage on the forum to make sure that the full benefit of the gathering does not dissipate after the forum,” he said expressing fears that Nigeria has a system that is very disjointed.
“The economic forum will apply its own pressure on the government to put things in place.
“Investors are coming and it will put pressure on both the mangers and the practitioners of the Nigerian economy – the private sector- for them to organise themselves in such a way that they could take full advantage because people are beginning to put their money where their mouth is,” Mr Odibo stressed.
During the forum, the Premier for the People’s Republic of China, Li Keqiang said China would be increasing its credit line to Africa from 20 billion dollars to 30 billion dollars, listing Power, Telecommunication, aviation, training professionals and meeting the pressing needs of Africa as the major challenges that the Chinese government would be looking to solve.
Currently in Nigeria, China is building four airports in Kano, Abuja Port Harcourt and Enugu.