Nigeria ready to show off investment opportunities - CNBC Africa

Nigeria ready to show off investment opportunities

Western Africa

by Dara Rhodes 0

A sunset taken off Bar Beach in Victoria Island, Lagos, Nigeria. PHOTO: Getty images

The West African country will host the 24th edition of the World Economic Forum (WEF) for Africa in May 2014. 

The forum will provide one of Africa’s most populous nations the opportunity to showcase her vast economic investment opportunities and potential, as the private sector will align itself with the theme of the WEF, to forge inclusive growth and create jobs.

“Earlier on, you probably had a situation where, when there were no jobs, the government came up and employed people to do jobs that didn’t need to be done, which meant that there is no efficient way of doing a job that doesn’t need to be done,” Inya-Agha Gabriel Chukwuemelie, Group head, Projects at the Quickening group told CNBC Africa.

For the first time in a while, the federal government has taken a competitive process whereby entrepreneurs and aspiring entrepreneurs in the private sector, who have shown a burning desire to drive economic growth and sustain the economic growth, were empowered in a manner that ensured that they could actually invest the resources in an appropriate way.

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“The YouWin program [is] one of the ways the government is approaching the job creation in a manner that is sustainable,” he explained.

The president stated that the program was created to tackle youth unemployment in the country and will be implemented in partnership with the private sector.

According to Chukwuemelie, private sector participation is crucial in that regimes may change, policies may be reversed, priorities might change but the sector by virtue of its nature is almost a continuum.

“So if you invited those people and they bought into the program, they are likely to keep running it,” he added.

Despite the current security challenges in the country, Nigeria is blessed with impressive human capital, solid minerals, and good arable land.

“Nigeria is the best place you want to put money in now because I know that if you don’t, in the next 20 or 15 years, you’ll be wondering what you were thinking. That’s basically that and that’s exactly what I know” he concluded. 

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