The Minister for Finance, Dr Ngozi Okonjo-Iweala, says next year's World Economic Forum (WEF) in Nigeria will be an opportunity for Africa to showcase its investment potentials.
Okonjo-Iweala made this known on Monday in Abuja at the official inauguration of the 24th WEF on Africa, tagged 'Forging Inclusive Growth, Creating Jobs'.
According to her, the forum which is scheduled to take place between May 7 and 9 in Abuja, would attract Head of Governments and Chief Executive Officers (CEOs) of global firms, among others.
"The WEF is a non-profit foundation based in Switzerland, dedicated to improving the state of the world through the facilitation of business engagement.
"The African edition began in 1990 and it has been held in South Africa, Zimbabwe, Namibia, Mozambique, Tanzania, and Ethiopia. In 2014, it will be in Nigeria.
"We are honoured to have been chosen as the venue for this important meeting.
"It is a reflection of the growing attraction of Nigeria to the international capital as one of the world’s most rewarding new market”.
The minister said that the WEF would be an unprecedented opportunity for Nigeria to showcase its vast economic opportunities and deepen dialogue on economic reforms between the international and Nigerian private sector.
"The theme chosen by the WEF for the 2014 summit aligns perfectly with the medium and long-term aspirations and commitment of the Federal Government of Nigeria.
"Hosting WEF next year will not only ensure that Nigeria remains the largest recipient of Foreign Direct Investments (FDI) in Africa.
"It will also ensure that we attract broad based investments that will generate millions of jobs for our youthful population," she said.
Okonjo-Iweala said that Nigeria still needed international financial support in spite of attracting 20 billion dollars in FDIs in the last three years.
"We recongnise the challenge we face in converting the vast human and natural resources we have into broad economic prosperity and improvement of standard of living through job creation.
"With the whole economic and political world focused on Nigeria during the meeting, it places enormous responsibilities on the country."
She said that the forum would present opportunities for Nigeria in terms of investments, tourism and increased international relevance in driving local and foreign investments, promotion of inclusive growth and employment.
Dr Nwanze Okidegbe, the Chief Economic Adviser to the President, said that the President was excited about the summit and was looking forward to receive the captains of industries across the globe.
Okidegbe said that the theme of the summit was consistent with the president's transformation agenda, adding that the visit would be bring in significant increased FDIs into the country.
"The president believes in thorough planning, preparation and achieving results. So he wants the WEF 2014 to be the best ever.
"He has set up a steering committee comprising of key government functionaries and leading private sector players."
The committee to be co-chaired by the Coordinating Minister and Okidegbe, includes Alhaji Aliko Dangote, Mr Tony Elumelu, Mr Bisi Onasanya, Mr Nduka Obaigbena and Mr Wale Tinubu.
He said that the steering committee would be supported by the Nigerian Economic Summit Group (NESG) secretariat, led by the Director-General, Mr Frank Nweke.
The Chief Executive officer of Dangote Group, Alhaji Aliko Dangote , described as unfortunate WEF non reflection of Nigeria’s involvement and impact in Africa’s development over the years.
Dangote, who was represented by the group Executive Director, Stakeholder Management, Mr Mansur Ahmed, said that Nigeria's hosting of WEF in 2014 would enable the country to showcase its business potential.
"We believe that the private sector in Nigeria has a key role to play in contributing to the attainment of inclusive growth and job creation in the country," he said.
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