Nigeria to regain position in world economy

Timothy Choji, Abuja

Nigeria is to take vital steps towards regaining her prominent position on the map of the world economy.

Minister of Environment, Amina Mohammed said this to journalists at the Presidential Villa Abuja, after Wednesday’s meeting of the Federal Executive Council.

She said government planned to diversify the economy as well as resuscitate Lake Chad, in order to boost revenue.

The Minister said no stone would be left unturned in taking a critical look at the need to regain Nigeria’s position in the world economy, noting that economic diversification tops the agenda of the current administration.

The Federal Executive Council,she said, identified corruption and insecurity as bottlenecks in the wheel of progress and the two would be tackled headlong, to woo more investors into Nigeria.

“People are not bringing their investments on the scale that we need them because of the issues of corruption and insecurity. We must not underestimate how much of a barrier that is. Without the President going out there with his team to underscore the efforts he is making at home, we are not likely to get those investments,” she explained.


Ms Mohammed said the foreign trips embarked upon by President Mohammadu Buhari had since started yielding good results for the country.

“Without infrastructure we cannot deliver. Without power, you can’t deliver on increasing any business or diversifying the economy. Without rails without the roads, you can’t get the goods produced to the market. I think it is important that we regain where we were in the world economy by going out there and I think concretely we are beginning to bring back the needed investments,” she said.

The Environment Minister said in line with the global climate change agenda, Nigeria has a target of reducing her gas emissions by 20 percent.

Corroborating her point, Minister of Information and Culture,  Lai Mohammed said the personal presence of the President at various international fora was very important and the trips had raked-in many dividends

“We are leveraging on a lot of grants for the development of our infrastructure. It is very important for our President to be there at such meetings. I can assure you that all the trips that he has made so far have been very positive,” he said.

He used the opportunity to inform Nigerians that the 2016 budget would soon be passed.

He said the Legislative and Executive arms of government were harmonizing their actions in order to pass the budget.

Lai Mohammed pleaded with Nigerians to keep supporting the government of the day.