WASHINGTON— President of the United
States of America, Senator Barrack Obama, has declared Nigeria as the world’s
next economic success story.
He said the discovery was one of the
major reasons why his government was committed to helping the country build
strong democratic institutions and as well remove constraints to trade and
investment through the African Growth and Opportunity, AGOA.
Making this declaration at the
ongoing US-Nigeria Trade and Investment Forum, organised by the Nigerians in
Diaspora Organisation, NIDOA, in Washington DC, President Obama, who was
represented by Ambassador Eunice Reddick, a top official of the US Department,
said his country expanded opportunities for Nigeria to effectively access its
neighbour’s market, and diversify its economy beyond a narrow reliance on
natural resources as a result of the discovery that Nigeria will emerge as the
world’s next economic giant.
President Obama said: “As we support
these efforts, the Diaspora can play an important role in contributing to a
strong, vibrant, and economically-prosperous Nigeria.”
He explained that his country invests
in Nigeria’s success because it recognises Nigeria as a strategic centre of
gravity, stressing that the country’s success will as well be Africa’s success
if the US can help Nigeria chart a secured, prosperous, and democratic course.
The US leader also assured that his
government will encourage Nigeria in the area of private investment in the
power sector as well as other sectors to help seal the promise of growth and
opportunity for all Nigerians.
According to him, the US government
will also work to strengthen Nigeria’s agricultural sector, which employs
nearly 70 per cent of the country’s population, by encouraging improvements to
infrastructure that would facilitate agricultural growth.
On the US-Nigeria Bi-National agreement,
Obama said that the joint Commission had grown into a forum for frank,
high-level concersations, in which both nations have seen substantial reforms
and mutually reinforcing initiatives implemented in Nigeria.
His words: “Some key outcomes of the
Binational Commission so far have been successful integration of civil society
into the electoral process prior to the 2011 elections, sustained and elevated
dialogue with energy sector officials on energy policy, reforms to increase
investment, and agreement to support the development of a civil affairs
training center in the coming year.”
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