By Dipo Olowookere
Vice President, Professor Yemi Osinbajo, has informed both local and foreign investors that “Nigeria is ready to do business,” assuring them that they no longer have to worry about “additional burden of bureaucratic delays and problems of various kinds” that used to scare them away in the past.
Mr Osinbajo made this assurance at the mid-lab syndication for the Economic Recovery and Growth Plan (ERGP) Focus Labs held at the Sheraton Hotels, Abuja, on Thursday, April 5, 2018.
The Vice President, who described the lab as “very unique”, said he was “thoroughly impressed” with what he had seen.
According to him, the scheme has made it possible for investors to “see the regulators face-to-face, to meet and talk about what the problems are.”
The number two citizen of the country stated that he was particularly impressed by the level of engagement, the enthusiasm and the interest that had been shown by participants in a bid to partner with government to fast track the growth and development of the nation.
He assured investors that President Muhammadu Buhari was committed to the initiative and wants to make doing business in Nigeria better.
“We have all identified jointly, especially with Mr President, that all of the problems can be resolved if the private sector and the public sector sit together and identify what the problems are.
“This is why I think the Honourable Minister mentioned that the President, of course, is very keenly interested in the outcome of these Labs, and he has given his full support to this.”
The Vice President said he has “listened to the various comments, the challenges articulated by Lab participants on what is required, what the solutions are.
“I’m also aware that all of the ministers, the sector ministers, have been personally present and that they have discussed most of the issues with you, and they have received feedbacks that relate to their particular portfolios.
“I believe that they would continue to do so because this is a continuous process of engagement, especially as we go towards the end of the Labs.”
“So, we intend to move very quickly once we are able to identify all of the problems. As the Honourable Minister has said, a meeting will be held this coming week, where we are going to sit with the regulatory authorities and look at what it is that the government needs to do, and what it is that, from our side, we need to input into this process.
“Some of the processes are more complicated than others, and some are quite straightforward. But again, we are going to keep talking to you and trying to elicit some of the solutions that you think are possible,” he said.
“We are completely committed to this process and we want to make sure that we see the projects done,” Mr Osinbajo assured, noting that, “All of the projects that have been identified are projects that will definitely make a huge difference, not just in terms of job creation, but also in terms of proving to other investors, local and international investors, that Nigeria is ready to do business; that we are prepared for all that it takes to make sure that things are done well and properly, and that those who want to invest don’t have the additional burden of bureaucratic delays and problems of various kinds.”
