President Muhammadu Buhari on Tuesday in Washington urged American entrepreneurs to use the opportunities offered by the liberal trade and investment climate in Nigeria to do profitable business.

Buhari, who gave the advice at a business forum organised by the United States Chamber of Commerce and The Corporate Council on Africa, said that his administration would continue with the Federal Government’s privatisation programme in various sectors of the economy.

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According to him, the privatisation exercise will be expanded to include the nation’s aviation, telecommunication, energy, gas, solid minerals, health, and infrastructure development sectors. Buhari reassured that his administration would reduce waste in the management of the Nigerian economy through prudence, accountability, and good governance as well as respect for the Rule of Law, strict compliance with and observance of contractual agreements.

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According to him, Nigeria has huge economic potential that required heavy funding that cannot be sourced locally.

“In this regard, I want to use this platform to encourage United States foreign investment and funding agencies such as Overseas Investment Corporation and the United States Export–Import Bank to increase access to capital and funding of such businesses on favourable terms.

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“Nigerian potentials are already being exploited,“ he said.

In his remarks, the Chairman, Corporate Council on Africa, Mr Paul Hinks, expressed the readiness of American investors to do business with the new government in Nigeria.

He, therefore, invited Buhari to chair the council’s summit scheduled to hold in Ethiopia in November.


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