Jonathan Affirms Nigeria-US Bilateral Investments Soar To $36 Billion

Posted by African Examiner African News, Featured, Latest Headlines, News, World News Thursday, August 7th, 2014

…As The Maiden US – African Leaders Summit Ends

The level of bilateral investment between Nigeria and the United States (US) has risen to $36 Billion per annum, with the hope of soaring in the future.

President Goodluck Jonathan established last night in Washington DC while speaking at a dinner held in his honour by the United States Chambers of Commerce and the Corporate Council on Africa.

President Jonathan and President Obama

Jonathan in a statement by his Special Adviser on Media and Publicity, Dr. Reuben Abati, said his administration embraced Obama Administration’s support, especially as efforts to transform the country’s economy and ensure it becomes one of the twenty largest economies in the world by 2020 was ongoing.

While speaking on direct investment in Nigeria from US, President Jonathan declared that recent developments had shown that President Barack Obama was correct when in September last year, recognized the country’s standing role in the global economy.

“Our economy has since been re-based and it is now the largest in Africa. We are the 26th largest economy in the world and the largest trading partner of the United States in Africa. Latest figures show the volume of trade between Nigeria and the U.S. to be $36 billion and still counting.

“We remain the largest source of natural gas and have large areas of unexploited fertile lands for agriculture. We have a huge stock of untapped solid minerals and we continue to make Nigeria an attractive destination for foreign investors through the constant implementation of our policy of creating an attractive and conducive climate for investors,” the President emphasized.

The President also expressed his administration’s resolve and aspiration to fully diversify the country’s economy while hopeful of support from countries like US in the same regards so as to make other Nigeria’s sectors more productive.

He assured the US investors that his administration would take necessary actions to overcome the Boko Haram insurgency. The President has since left Washington DC after the dinner which climaxed the African Heads of State and Government three day first United States-African Leaders Summit.