Promoting direct foreign investment

The federal government’s policy trust to increase trade volume with other countries as a strategy to create jobs and boost the economy under the Direct Foreign Investment DFI has over the years been exploited by aggressive investors from other countries. Government at all levels in Nigeria beckons on investors especially in the manufacturing industry to […]

The federal government’s policy trust to increase trade volume with other countries as a strategy to create jobs and boost the economy under the Direct Foreign Investment DFI has over the years been exploited by aggressive investors from other countries.

Government at all levels in Nigeria beckons on investors especially in the manufacturing industry to increase production capacity to meet market demands at home and export for instance, the ongoing export of yams to Europe by the federal government, there is no doubt therefore that only increase in yam cultivation can meet this demand.

Members of the HIZMET in Nigeria are proprietors of the Nizamiye Hospital, a first class health institution with a wide range and state of the art medical equipment to curb medical tourism, which reduces the amount of foreign currency spent by Nigerians on medical bills overseas.

The hospital was established to among other things review cases of those who cannot afford medical treatment as it has so far carried out free eye and open heart surgery for less privilege Nigerians as well as free cataract surgery.

The Nile University of Nigeria, which has conducted about four convocations since inception, has contributed to the growth and development of the education sector in Nigeria as it has turned put thousands of graduates I’m various disciplines especially in the sciences, though it has just commenced its college of medicine to produce England trained doctors in Nigeria.

The university has awarded scholarship to accommodate deserving students who have performed well at their West African Examination and the Joint Admission and Matriculation Board JAMB examination, the school thrives to provide adequate and conducive study environment to compete with other notable foreign universities in the World.

The NTIC colleges in about 11 states of the federation has positive impact on the middle class and primary education in Nigeria, preparing young people for science and mathematics oriented courses at advance education to encourage and promote technology driven education for increased capacity building in the industrialization process of the states and federal government.

Hundreds of millions of dollars are said to have been invested over time with growing employment rate of Nigerians yearly into its various establishments of major sectors of the economy, thereby reducing the percentage of unemployed people in the country.

One aspect of these investments is the fact that it is growth driven, from about 13 pupils in a rented apartment in Wuse 11 to students numbering in hundreds of thousands at the primary and secondary and at the university numbering in thousands.

This form of growth is needed in relevant sectors like the power, energy and the transportation sectors, perhaps government should not hesitate to beckon on these high investment profile group, the Surat Group to invest in these other sectors to bring honesty and commitment to these sectors for sustainable growth.

The First Surat Group is the umbrella body of these major actors in education, health and charity support organizations which have embarked on a number of community development programmes in some States of the country including the FCT.

Under the Direct Foreign Investment DFI profile, the group is prepared to partner with organizations, states and federal governments to invest in core areas of competence and sectors where they have comparative advantage for sustainable growth and development.

The growth sustained over time can be attributed to expertise and commitment to conventions and rules of engagements without any form of breach as it has clearly distanced itself from contracts but focuses on putting in money to promote relevant sectors of the economy.

Statistics and very careful analyses indicates that thousands of Nigerians are employed in both skilled and unskilled labour including medical doctors, lecturers researchers and deputy Vice Chancellor, positions that are highly competitive even in the employment into the state and federal civil service.

Nigeria and indeed Nigerians are willing to continue to partner and collaborate with First Surat Group in projects and programmes that are people oriented and as well keep the trust and confidence of doing business in Nigeria.

The federal government has spent billions of dollars in some sectors of the economy especially the power sector within the last two decades but the trust and confidence has kept dwindling at the expense of Nigerians who are clamouring for improve in the supply of electricity.

The present administration is desirous of fixing the power sector, roads, energy, aviation and significant boost in agricultural products to diversify the economy, so committed investors are encouraged at all levels to partner with government to explore other sectors of the economy to diversify from oil.

Before now, oil production foreclosed the exploration of agricultural products, but today Nigeria has commenced the exportation of yams and in no distance time other commodities shall follow suit.

Any one who do not have trust and confidence in Nigeria can be described a fool, because it is a land mark achievement for the return of export in agricultural produce, it is indeed an indication that Nigeria is on the part of restoration and economic recovery where the national budget and yearly appropriations can be predicated on agriculture.

Various oil cabals would soon know that a responsible government with integrity may not need to continue to beg and negotiate to stabilize oil prices as we ate gradually moving away from oil to agriculture and other relevant sectors of the economy for mainstay.

However, the First Surat Group as major partners may want to diversify alongside Nigeria to chary a new course of development and growth.

It is therefore instructive that all investors either foreign or local shall make trust and confidence a cardinal objective for sustainable growth and development at this period of economic diversification.

Ofem Uket is a public affairs commentator [email protected]