A U.S official has offered cogent tips to the Nigerian government on a viable route out of the current economic recession.
President Muhammadu Buhari
The United States Consul-General in Nigeria, Mr John Bray,
yesterday hinted on 3 major ways President Muhammadu Buhari could
meander Nigeria out of the current economic recession.
Bray gave the advice in Lagos at this year’s Annual Lecture of the Hubert H. Humphrey Fellowship Alumni Association.
The theme of his keynote address was “The Challenges and Opportunities of Managing a Recessionary Economy: The American Experience’’.
“As the most populous country on the continent and as the
largest economy in Africa, Nigeria clearly stands to gain from
increasing its attractiveness to foreign investors.(1)
“As in the case for the U.S. economy, FDI offers much to
contribute to Nigeria’s ability to grow its economy and increase its
global competitiveness. (2)
“I hope that Nigeria will use the current recession as an
opportunity to adopt and implement economic reforms to address
challenges that existed before the current recession,’’(3) he said.
Bray said that the U.S. would continue to be the number one
destination for foreign direct investment because of foreign investors’
confidence of fair treatment, profit repatriation and rule of law.
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