President Olusegun Obasa-njo's Destination Nigeria project got a much-needed endorsement from Alhaji Aliko Dangote recently. This Chairman and Chief Executive of the Dangote Group was quoted by respected national dailies as saying that Nigeria's improved investment climate is making it easier to do business, to source external finance and secure foreign technical partners. He explained that investors and foreign finance institutions have more confidence in Nigeria’s economy. Alhaji Dangote, a reputable indigenous industrialist and kingpin of commerce, surely knows what he is talking about. He who feels it, knows it.
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President Olusegun Obasa-njo, through his Destination Nigeria and Re-branding Nigeria projects, is determined to make Nigeria a tourist delight and investor’s paradise. Even his harshest critics would admit that he has taken several positive steps to actualise his dreams for Nigeria in this direction.
It is on record that immediately on assumption of office, Chief Obasanjo formed the Honorary Presidential Advisory Council on Investment made up of his international friends and prominent Nigerians to help attract foreign direct investment and portfolio investment into the country’s industries and infrastructure sector. He assured that his administration would vigorously pursue the stated objective of making Nigeria the preferred destination for investible funds, and that Nigeria with a market of over 120 million people becomes in the shortest possible time as AfricaĂs economic powerhouse.
Since then, President Obasanjo has engaged in Shuttle economic diplomacy and high-profile business promotions in both Nigeria and foreign capitals. This administration has taken unprecedented number of pro-active investment-generating and tourist-boosting measures including, hosting foreign trade and business missions into the country, sponsoring and hosting international business and investment forums in major international business capitals such as New York and London;
Active participation in all major international trade fairs and exhibitions;
Advertising Nigeria's investment potentials and soliciting for FDIs at international forums; and
Presidential meetings and working luncheons/dinners with prominent Nigerians abroad and other Blacks in Diaspora living outside Nigeria.
To ensure that there is a fertile ground for investment to flourish and tourism to thrive, the administration has taken steps to provide an enabling environment in the country through ensuring right domestic policy; responsive institutional framework; functional public infrastructures (iefficient port services and better telecommunication facilities); and elimination of bureaucratic red tapes.
Aside from this, through the activities of the Economic and Financial Crimes Commission, the Independent Corrupt Practices Commission and the Due Process mechanism, the federal government has made an indelible mark in fighting corruption and other economic crimes that discourage foreign investors and industrialists. Advance Fee Fraudsters (a.k.a. 419ners) and scammers have virtually been run out business in the country.
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