NIGERIA'S NEW PRESIDENT TO CONTINUE ENCOURAGING FOREIGN INVESTMENTS

By Ravichandran Rajamanickam

KUALA LUMPUR, June 30 (Bernama) -- Nigeria, under its new President Goodluck
Ebele Jonathan, will continue to encourage foreign investments into the country,
said Nigeria's High Commissioner to Malaysia Peter J. E. Anegbeh.

He said the oil and gas rich West African country offered significant
potential for investments and the government would continue in its efforts to
attract foreign investors with business friendly policies.

Anegbeh said the new administration was also committed to privatisation and
free market policies. Nigeria's privatisation programme is Africa's largest.

"The government will continue with the economic policy where, among others,
foreign investors are free to repatriate 100 per cent of the dividend of what
they invested," he told Bernama in an interview.

He pointed out that the president had also promised to the people to do his
best towards moving Nigeria forward.

Anegbeh said the Nigerian president had set the priorities for three of the
the country's seven point agenda, namely energy building, fighting corruption
and electoral reform.

Anegbeh explained that these three aspects were important to create a
conducive investment and economic climate for Nigeria, which is Africa's biggest
market for investors.

He said Nigeria with some 155 million population boasts the largest pool of
highly educated and trained manpower in Africa, a major attraction for locating
investments in that country.

Known as the "Giant of Africa", Nigeria is one of the fastest growing
economies in the world and continues to witness political and economic
stability, since the restoration of civilian rule in 1999.

Investment opportunities are available in the oil and gas sector, solid
minerals, manufacturing, agricutural, tourism, information communication
technology (ICT) and banking and finance sectors, among others.

Nigeria has been listed as one of the Next Eleven (or N-11) countries
together with among others Egypt, Indonesia, Mexico, and South Korea, as having
great potential to emerge as the world's largest economies in the 21st century.

-- BERNAMA



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