Major General Muhammadu Buhari (retd.) stated Tuesday in Riyadh, Saudi Arabia, that attempts to boost the country’s digital economy and combat corruption should provide investors with “a lot of conveniences.”
e-Naira, Treasury Single Account, Bank Verification Number, and National Identification Number are among the proposals highlighted by the president.
Buhari said his regime will continue to encourage public and private initiatives that increase investments in health, education, capacity building, youth empowerment, gender equality, poverty eradication, climate change, and food security at the fifth Future Investment Initiative Summit in Riyadh, Saudi Arabia.
According to a statement from the presidency, Nigerian President Muhammadu Buhari has advocated increased investment in infrastructure such as healthcare and education, which he says “offer huge prospects for investors in a country our size.”
Nigeria’s digital economy provides several investment opportunities, since it has remained the fastest-growing industry in both 2020 and 2021. Nigeria offers several investment prospects in broadband, ICT hardware, new technologies, and software engineering. The national policy on the Fifth Generation (5G) network was just adopted. Our goal is to attract investment in areas such as healthcare, smart cities, and smart agriculture. All additional advantages of real-time communication will be bolstered.
“e-Naira, the electronic form of our national currency, which puts us on pace to become the first African country to establish a Central Bank Digital Currency,” the President added, “was introduced on October 25th, 2021, to further develop and reposition the economy to attract investors.”
We think that this, as well as a number of other changes, will help us raise the number of individuals who participate in the banking sector, make the financial industry more efficient, and combat the unlawful movement of cash.
These approaches, when combined with our countrywide National Identification Number (NIN) operation, strengthen our fight against corruption and fraud. This, we believe, should make investors feel at ease.
Buhari blamed rising social discontent on disparities and unjust policies that keep the people out of the political process, urging international leaders and investors to prioritize inclusive and humanitarian policies.
“By doing so, it will go a long way toward reenergizing the global economy in the post-COVID-19 age,” he added. Nigeria is Africa’s largest economy and most populated country. Our economic reforms, which focus on “humane” investments, are perfect for investors seeking attractive returns while also having a beneficial influence on society.”