PRESIDENT Muhammadu Buhari on Friday, December 16, urged United States businessmen to take advantage of “massive investment opportunities” in Nigeria, especially in the non-oil sector.
Buhari told the businessmen that Nigeria’s Gross Domestic Product (GDP) grew by 3.54 per cent in the 2nd Quarter of 2022.
Buhari spoke on Friday at a dialogue session with some US Investors, diplomats and experts from the private sector in Washington, DC.
“Nigeria’s GDP grew by 3.54 per cent year-on-year in real terms in the 2nd Quarter of 2022, which represents a sustained positive economic performance, especially for the Non-Oil GDP which fell by 4.77 per cent in Q2 2022 against Oil GDP that grew by -11.77 per cent,” he said.
Buhari noted that most sectors recorded positive growth despite the country’s challenges.
The President, who will be rounding up his second and last tenure in May 2023, said the outcome of his administration’s efforts and investments in Infrastructure Development and Refurbishment led to the reconstruction of 21 selected federal roads, totalling 1,804.6km.
“With regards to railways, sea and airports as well as energy, which are expected to facilitate movement of people, goods and services as well as sustain the stabilization of industries and their growth respectively.
“The outcome of government efforts are well documented in basic facts on Nigeria, which you can easily access for your education and use,” he told the US investors.
Buhari added that Nigeria, like other countries, including the developed economies, is facing economic challenges occasioned by the disruptions as a result of the COVID–19 pandemic and the ongoing war in Ukraine, as well as climate change.
According to him, despite these global challenges, Nigeria had witnessed seven consecutive quarters of growth after the negative growth rates recorded in the 2nd and 3rd quarters of 2020.
The meeting with the US investors took place on the sidelines of the 2022 US/ Africa Leaders Summit.
A reporter with the ICIR
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