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Nigeria’s president at FII: Investing in humanity is investing in collective survival

Nigeria's President Muhammadu Buhari affirmed that the Future Investment Initiative (FII)

Nigeria’s President Muhammadu Buhari affirmed that the Future Investment Initiative (FII) has become an interactive platform between the public and private sectors that will support development, growth and prosperity in the world.

He indicated that the humanitarian approach to investment is the only way to address the international challenges it faces, especially in the Covid-19 pandemic. He added that there are continuous and sustainable efforts to address and mitigate its social and economic repercussions until reaching economic recovery, stressing that investing in humanity is an investment in collective survival.

This came during Nigeria’s President speech at the FII summit in Riyadh.

He said: Nigeria has public-private partnerships that contribute to increasing investments in the health and education sectors, which ensures capacity building, youth empowerment, gender equality, poverty eradication, climate change and food security, noting that Nigeria’s population currently has crossed the 200 million mark.

Nigeria’s president stressed that Nigeria has taken upon itself several decisions that will make investments that guarantee a long-term prosperous future, by diversifying the economy away from oil to be more inclusive of the agricultural and other sectors, indicating that it has achieved 30% in increasing production, and an agricultural law has been issued that represents a motivating factor. For the oil sector with the provision of a set of incentives, such as exemption from full property taxes, the provision of financing, in addition to the provision of manpower.

Nigeria’s President explained that the digitization economy in Nigeria has great investment opportunities, and the private sector can play a role in this matter, indicating that it has many investment opportunities, supports all economies, and launched many initiatives that support investment, making it the first African country to have a bank that issues Digital currencies, which made the number of participants in the banking sector increase, raise the efficiency of the economy sector, address money flow problems and fight money obtained through illegal means.

He indicated that Nigeria is fighting corruption and embezzlement, and has flexibility towards a flexible economy in many countries, noting that the partnership with the private sector will contribute to re-pumping water into Lake Chad and ensure the preservation of livelihoods and decent living.

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