[SPECIAL REPORT]
TITBITS FROM THE DESK OF
H.E. MAJ. GEN. CHRIS S. EZE
ON NIGERIA’S ECONOMIC AND
INVESTMENT POTENTIAL
Nigeria as a Preferred Investment Destination in Africa
• The largest economy in Africa.
• Abundant natural resources such as crude oil, coal,
bitumen, solid minerals, arable land, adequate sunlight
and rainfall, among others. Further details of nature’s
bounty can be found on the Nigeria Investment Promotion
Commission website, www.invest-nigeria.com.
• A growing and huge population (more than 180 million)
which guarantees a large market to all industries.
• Nigerian economy is closely linked with the economies
of other countries in ECOWAS. The country’s economy
is also booming with massive ongoing infrastructure
projects.
• Democracy and its institutions are becoming stable
which adds to the creation of an investment-conducive
environment.
Competitiveness of ECOWAS in the Global Economy
ECOWAS as a regional economic forum is fi lled with huge
yet untapped potential. However, with huge hydro-carbon
8 • Nigeria-India• 2018
deposits being discovered in its member countries and with
governance improving, the forum is poised to become the
dominant trading block in Africa; with Nigeria leading the
economic integration. Eff orts are also ongoing for ECOWAS
to adopt a single currency to complement the already existing
free market and free movement of goods and people.
Diversifi cation of the Nigerian Economy
Diversification is taken very seriously by both the
government and by the private sector. Emphasis is on
agriculture, solid minerals, infrastructure, solar energy, ICT
and value addition to primary products.
Anti-Corruption
President Buhari has been unanimously chosen by
African Heads of State as the face of anti-corruption within
the continent. This shows how serious he is in curbing
the menace. The President has been blocking leakages;
recovering looted funds; investigating corrupt governments
offi cials and politicians, and charging them to court; enlisting