The Minister, Industry, Trade and Investment, Okey Enelamah on Friday said that the Federal Government would ensure effective implementation of the Economic Recovery and Growth Plan (ERGP) to boost Foreign Direct Investment (FDI).
Speaking at the private equity summit packaged by Udo Udoma and Belo-Osagie, in Lagos, the minister said apart from ERGP implementation, the government would ensure a strong enabling environment.
He said that government would embrace the right policies and incentives as well as enabling infrastructure to attract investments.
Enelamah said that government would also collaborate with the various arms of government and the private sector on ways to increase FDI in the country.
According to him, government would create special economic zones where people could invest or where industries could thrive, to boost investment.
The right environment
The minister said that government would create the right environment for industries in areas with strategic advantage, for industries to grow.
On ease of doing business, he said that the recovery in the economy should be sustained through government and private sector shared responsibility.
“The best way to predict the future is to create it,” Enelamah said.
He said that government recognised the importance of an enabling environment and had introduced several initiatives and policies in this regard.
“We don’t expect an enabling environment to be created in one day or even one administration, what we want to see is sustainability”, the minister said.
Speaking on the multiple exchange rate, the minister said the worst was over, noting that the country had learned a lesson. Enelamah said that the investor and exporter window introduced by government brought increased supply and increased confidence.
He said that government would continue to create an enabling environment that would create opportunities and make it easier for investors.
On the effect of electioneering on economic growth, he said that government was committed to free and fair election.