Osinbajo said this when he played host to a group of international investors who are set to invest in the country.
He said: “This country has practically what it takes to run a solid economy that is not dependent on oil, but on business and commerce.”
The vice president explained that President Muhammadu Buhari had already directed that a conducive environment be created for business investment to strive in the country and the government was already working hard in this direction to make this a reality.
Osinbajo had earlier held similar meeting alongside the Minister for industry, trade and investment, Okey Enelamah, with World Bank Ease of Doing Business Ranking Team, where certain issues were raised and specific action plans were sought on how to improve Nigeria’s business climate.
Other visiting global investors were drawn from these companies: Russia-China Investment Fund, Renaissance, China Africa Development Fund, Invest Abu Dhabi, Actis, ECP, KKR & Co. LP, Old Mutual of South Africa and Emerging Capital Partners.
The vice president noted that working with state governments and the present administration would ensure that issues bordering on pre-investment approvals and acquisition of land titles would be worked on to ease doing business in the country.
He further pointed government would reduce or merge where possible agencies involved in granting approvals thus allowing businesses to thrive.
Osinbajo stressed that power generation would receive the greater attention of Buhari’s government and further investment will be committed to this critical sector of creating conducive environment for business to thrive.
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