Nigeria’s federal government has announced it is working on a national industrial revolution plan to further encourage investors and local production.
The plan was announced by President Goodluck Jonathan Wednesday, while speaking to a delegation of Nissan South Africa in Cape Town, South Africa.
President Jonathan is currently in South Africa for a State Visit as well as to attend the World Economic Forum (WEF) on Africa.
“Nigeria is working on a new industrial revolution plan that will further promote investments in every sector of the Nigerian economy, and strengthen areas in which the country has comparative advantage,” a Nigerian presidency statement quoted the President to have said, adding that the aim is “to create a win-win situation for both investors and the Nigerian people”.
President Jonathan said the government was committed to stimulating local production in various sectors in the overall interest of Nigerians, especially in the automobile sector.
Earlier, the Managing Director of Nissan South Africa and leader of the delegation, Mr. Mike Whitfield, said the Nissan Group was interested in investing in the automobile sector in Nigeria in collaboration with their business partners, and called for an industrial framework and the right policy environment to encourage investment flows.
President Jonathan also met with the Chairman of the MTN Group, Mr. Cyril Ramaphosa, during which he commended the company for investing in the telecommunications sector in Nigeria.
The President said government would continue to provide the necessary infrastructure to ensure a conducive environment for investments in the sector to thrive.
Mr. Ramaphosa thanked President Jonathan for the enabling environment for business in Nigeria, and pledged that MTN would continue to be a good corporate citizen.