The Presidency has listed the gains of
President Muhammadu Buhari’s
participation in the just concluded Tokyo
International Conference on African
Development (TICAD VI) to include the
billions of dollar to be injected into African
economies by Japan.
A statement issued in Abuja on Tuesday by
Malam Garba Shehu, the Senior Special
Assistant on Media and Publicity to the
president, said the Japanese Government had
pledged to expend 40 billion dollars to boost
the African economies in the next four years.
He gave the breakdown of the amount as 10
billion dollars to be injected in the next 12
months while the remaining 30 billion dollars
would be expended over a three-year period
on areas key to African economies, targeting
infrastructures such as roads, energy, ports,
hospitals and training institutions.
According to him, the TICAD seeks a win-win
partnership between Japan and Africa.
He added that a key objective of the
conference was to build up African ownership
of its own vision of growth and development.
"In furtherance of this, Japan seeks to differ
with the other players on the continent by
placing emphasis on high quality
infrastructure that do more than job creation
by transferring technology through the
training of youth and women.’’
According to Shehu, for Nigeria in particular,
the conference's milestones include the
important meeting between President Buhari
and Prime Minister Abe, at which event
problems militating against the inflow of
Japanese investment into Nigeria were
discussed and agreed upon.
He said, "Japanese companies had done a lot
by way of investment in the past in Nigeria
but there has noticeably been a drop in the
last decade or two. Chiefly to blame is the
problem of security, disguised in official
discussions as `business environment."
He stated that President Buhari used the
meeting effectively in giving assurances that
the problem was being addressed.
"Boko Haram terrorism is nearly gone and
sabotage in the Niger Delta will soon be ended
preferably through dialogue and if not, by
force of arms.
"Coming into close personal contact for the
second time, the two leaders discussed the
issues of trade and investment, health, peace
and development of the continent.
"In addition, they discussed issues in
diplomacy and international relations.
"President Buhari's statement at the Head of
States' round table meeting with business
leaders underscored the serious efforts
government is making to improve Nigeria's
notoriously bad business environment.
"At this meeting, he announced the coming
into place of a soon-to-be inaugurated
"Presidential Enabling Business Council,
PEBEC."
"He described it as an inter-ministerial
council to oversee the efforts of government
to remove various bottlenecks that stifle
business and economic activity to give way to
the right enabling environment and
investment climate in Nigeria.
"It will be powered by the government but
will be private-sector driven.
"According to its vision, the PEBEC will make
Nigeria one of the most attractive business
destinations in the world.
"It will start with the modest effort of moving
the country up 20 points in the World Bank
ranking in the ease of doing business in the
first year, taking it into the top 100 at the
end of the four-year mandate of the current
administration."
Shehu announced that the third takeaway was
on the sidelines of the TICAD where the
Nigerian government delegation met a good
number of big Japanese enterprises.
He said, ``collectively and individually, these
businesses expressed their intention of either
coming in newly or expanding their
participation in Nigeria's private sector.
"The companies with varied interests in
power, agriculture, automobile, motor cycles,
textiles, financing and the service sector
included the Honda Manufacturing (Nigeria)
Limited, representing Honda Motor Co. Ltd;
Japan Tobacco Inc., Marubeni Corporation
and Mitsubishi Corporation.
"Others included Toyota Tsusho Corporation,
Toyota Tsusho (Nigeria) Ltd., an affiliate of
Toyota Tsusho Corporation, West African
Seasoning Co. Ltd., affiliate of Ajinomoto Co.
Inc., and Japan External Trade Organization,
JETRO’’.
He stated that at these meetings, they
explored the scope for the incentive packages
the Nigerian government would give them to
deepen and expand their investments.
He said that these included export rebates,
access to Foreign Exchange, land, interest
rates, transparency in business regulation and
favourable regulatory structure.
Shehu said the fourth important takeaway of
the conference was the formation of a new
group KENSA made up of industry leaders on
the continent, Kenya representing East Africa,
Egypt for North Africa, South Africa for the
South and Nigeria, from West Africa.
The Presidential aide said the fifth takeaway of
the conference was that Nigeria and Kenya
seized the opportunity of the meeting of their
leaders to strengthen bilateral relations and
follow up on the achievements of the State
Visit to Nairobi by President Buhari, earlier
this year.
"From the time of the visit, both countries
have seen a growing impetus for trade and
investment between them.
"Kenya which discovered oil lately is picking
lessons from Nigeria's vast experience in oil
and gas.
"Nigeria is learning from Kenyan experience in
managing animal grazing.
"There are efforts on both sides to share
experience and promote private sector
participation in trade, cooperatives, micro
finance, cotton farming and palm oil
processing."
Shehu disclosed that under the auspices of
the Bank of Industry and the Nigerian
Investment Promotion Council (NIPC0),
several memoranda of understanding were
signed between Nigerian parties and their
foreign counterparts.
"From many of these, investments and jobs
would follow.’’
He noted that the conference was significant
in the sense that this was the first time it took
place in Africa.
"They met in Japan all the time in the past.’’
According to him, another significant
departure is the recognition of the role of the
private sector in the economic take-off of the
continent.
"In this respect, more than 100 Chief
Executive Officers, CEOs from leading
Japanese companies accompanied Prime
Minister Abe.
"This is a clear indication that more and more
Japanese companies are eying the African
continent.
"A modest number of Nigerian business and
state-owned enterprises were equally
present.’’
The TICAD was being held every five years
from the time it started in 1993 until the last
one in 2003 when it was decided that it
should be convened every three years instead.
On the President's delegation were the
Ministers of Agriculture, Health, Budget and
National Planning, and Industry, Trade and
Investment.
There were also the National Security Adviser
(NSA), and the Director-General, National
Intelligence Agency (NIA).
"Members of the delegation expressed
satisfaction with the outcome of the
conference and the side engagements,’’ Shehu
said
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