FG will mobilise private sector to attract foreign investors – Osinbajo

Vice President Yemi Osinbajo has said the Federal Government will continue to mobilise and incentivize the private sector to attract more foreign investors into the country.

The vice president, who spoke at the webinar organised by the Bureau of Public enterprises in collaboration with the Nigerian Exchange Group (NGX) and Nigeria Investment Promotion Commission (NIPC) to showcase the Investment Opportunities in Nigeria’s Privatisation and Economic Reform Programme, explained that the collaboration by the three federal government agencies is to draw the attention of investors from around the world to the investment opportunities available in Nigeria.

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Citing examples of the reforms in the pension and telecom as well as marine ports sectors, Osinbajo said past reforms have brought increased opportunities and economic gains to the country.

While acknowledging the shortcomings in the power sector reform, the Vice President said the Federal Government is working to correct the abnormalities.

He said that one of the take-homes from the power sector reform was the need to engage the right minds and investment modules to attract investment into the country.

The Vice President, said FG alone can’t address the huge infrastructure deficits and economic needs of the country, hence the need for Public Private Partnership (PPP), which requires clear and consistent guide lines and arrangement for investment.

The Vice President expressed the hope that the new policy guidelines which clearly stipulated the roles of the Bureau of Public Enterprises (BPE) and the Infrastructure Concession and Regulatory Commission (ICRC) would clear the ambiguity between the two agencies.