Nigeria- Vice President Nnamdi Sambo urges HIIC to seek new ways of attracting investment.
A TWO-DAY meeting of the Honourary International Investors Council (HIIC) on Nigeria began Thursday in London with the Vice President Namadi Sambo charging members to work out new ways of achieving greater successes in Nigeria’s quest at attracting investors.
Vice President Sambo told the 13th session of the HIIC holding in Central London that with global competitiveness, there was need for Nigeria to be more aggressive in the drive for investments through periodic review of the efforts being made.
The Vice President told the meeting that three of the 10 new thermal power plants being built were already adding power supply to the national grid, while the others were at 90 per cent completion.
“We have reached an advanced stage in the privatisation of the power sector. The successful bidders have provided all the necessary guarantees and we are expecting that within the next 25 days the 25 per cent deposits will be paid and the target plan for the privatisation of power will be completed successfully.”
According to the Vice President, “After about 12 years, there is need for us to review and come up with new systems so that we will be able to achieve greater successes in this direction”, he told gathering comprising prominent investors from around the world. The 12th meeting in Abuja and the 11th meeting in Paris, we specifically discussed the competitiveness of Nigeria to attract foreign investments, the issues of Ports and Customs reform, the need to pursue the power sector road map more aggressively and realistically, the internal security issues, job creations, implementing the agriculture action plan and the need for a new visa policy.
Continuing, he said: “You will agree with me that a lot of actions have been taken on all these items and a lot of progress have been achieved. Take for example the power sector, today in Nigeria, all citizens are aware and can feel an improvement in power supply.
“I can confirm to you as the chairman of the NIPP projects that the new 10 thermal power plants we are building, the generation aspect of it, three plants are already adding power to the national grid and each one us over 90 percent completed