President Muhammadu Buhari has assured Nigerians of the development of the local economy which is in dire need of a change.
President Muhammadu Buhari and Pres. Erdogan
President Muhammadu Buhari on Friday reiterated his administration’s commitment to the creation of enabling environment and making Nigeria an attractive place for business and investment.
Buhari made the pledge in his statement at the ninth summit of the D-8 Organisation for Economic Cooperation at Istanbul, Turkey.
He said it was his belief that only economies that promote trade and attract investment grow at more sustainable rates.
The President said, “Nigeria is committed to, and is actively pursuing a policy of trade and investment facilitation for growth.
“The gains from trade are reflected in greater competitiveness, improved productivity, job creation, consumer welfare and prosperity.
“Economies that grow fastest and at more sustainable rates are those that actively promote trade and attract investment.
“We are committed to creating an enabling environment and making Nigeria an attractive place for business and investment.”
Buhari said having identified trade as the engine of economic growth and development, developing countries must continue to enhance the enabling environment for it to thrive.
He, therefore, urged governments of developing countries to encourage their respective economic agencies to be more active in participation at executive meetings organised by the organisation’s secretariat.
“I am pleased to inform you of positive market developments currently in Africa, that will support our efforts as members of the D-8 to enlarge our markets, facilitate our trade and investments, and develop our economies.
“In Africa, we are on the threshold of finalising negotiations to establish the first ever Single Market for Trade in Goods and Services on our continent, in the Continental Free Trade Area for Africa. This will be a win-win for all, including member countries of the D-8.
“As partners, I urge that we work together to support this effort of the African Union that will have a positive effect on global economic development and integration,” he added.
As the D-8, Buhari said member-countries needed to intensify their activities with a view to enhancing various measures and incentives introduced to promote trade and assist the business communities from to invest in their countries.
He added that they need to work hard to establish integrated manufacturing structures and markets.
Earlier, Buhari had thanked the President of Turkey, Recep Erdogan, for his concern during his recent health challenge.
He assured him and other leaders that he had recovered from the challenge.
“I wish to express my sincere gratitude to Your Excellency, for your concern and sympathy during my recent health challenge from which I have recovered, not least because of your prayer and the prayers of many other well-wishers and sympathisers,” he said.
The President again condemned the July 2016 failed coup in Turkey. He assured the government and people of the country that Nigeria will continue to stand side by side with all peace-loving people of Turkey and elsewhere, for the defence and promotion of democracy and people’s choice.