Nigeria seeks to increase investments in infrastructure

The Nigerian government on Thursday said it was seeking to increase investment in infrastructure and diversification of the economy for growth.

Vice President Yemi Osinbajo said this during a Presidential Policy Dialogue Session organized by the Lagos Chamber of Commerce and Industry in Lagos, Nigeria's economic hub.

He told his audience that a Presidential Economic Committee had been inaugurated by the Federal Government to ease the cost of doing business in the country.

The task ahead of the government is clear, the vice president said, noting that the task is to ensure security, fight corruption, improve the economy and business environment.

"Our immediate task is to reduce fiscal and foreign exchange imbalances, boost foreign exchange liquidity, curb inflation, lower interest rate, ensure lending to the real sector," he added.

"These challenges are significant but the opportunity to get it right is even more significant. For us, focus, steadfastness and consistency are crucial," Osinbajo said.

He said the government was committed to engage the private sector and institutionalize quarterly meetings with the sector to achieve an enabling environment for businesses to thrive.

According to him, the economy is resilient, has robust market with innovative and dynamic entrepreneurs, huge natural resources endowment that will be leveraged upon for economic recovery. Endit