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B N W: Biafra Nigeria World News |
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Obasanjo tasks U.S. on Bakassi, debts, others
THE Federal Government yesterday appealed to the United States (U.S.), to assist Nigeria enforce peace in Bakassi and in the Gulf of Guinea region.
Besides, President Olusegun Obasanjo also tasked the United States U.S. on the nation's debt issue, querying the equity of non-relief for the country, while others like Russia and Iraq secured debt concession.
He made the appeal in Abuja while speaking at the opening of the on-going three-day Nigeria-U.S. Investment Conference with the theme: " Enhancing Nigeria-U.S. Trade and Investment Partnerships'' at the Nicon Hilton Hotel .
He said the appeal has become necessary because Nigeria has since the return of democracy in the country, a little more than five years now spent a fortune to ensure peace and stability with her neighbours in the country and hence the United States cannot continue to be looking the other way.
He said:'' Since this administration came into power, a little about five years now, we saw the need to provide stability and security in the entire Gulf of Guinea like the resolution of the maritime border between Nigeria and the Republic of Sao Tome as well as that between Nigeria and Equitoria Guinea.
" The issue needs to be supported by the U.S. because we need peace and stability and of course the U.S. needs peace, just like the world needs peace. But we have not seen much of this assistance from our partners .
" Please help us with the capability so that we can move, when it is necessary so that we achieve peace and stability.
"The second is resources. We have to be mutually supported with resources . The total amount of money that is between us and the United States of America in debt is under $1 billion. Yet, I find it uneasy to explain that the U.S. cannot grant Nigeria debt relief when she can do so for Russia and Iraq whose oil production quota are higher than that of Nigeria and whose population are nowhere near that of Nigeria. ''
The President further suggested that the U.S. could dedicate her debt concession for Nigeria to specific projects like in the boosting of food production in the agric sector; or for educational or health purposes to be jointly managed by the both countries.
He told the participants who included about 25 Americans, led by their Ambassador in Nigeria, Mr. John Campbell that his administration has taken major proactive measures to ensure transparency in both public and private business transactions and also ensure high rate of return on investments and urged them to assist the country by being her advocate s outside Nigeria to attract investors to the country.
Obasanjo said: '' I am aware that Nigeria is one of the countries with very high rates of return on investment.
While return in most developing countries is estimated at about 15 per cent, that of Nigeria is over 35 per cent.
Some of the areas identified for investment include agriculture; industry (especially small and medium enterprises); oil and gas and solid minerals. I urged you to take advantage of the liberalised and deregulated business environment in Nigeria and look forward to receiving the recommendations of this conference which could form an input into policy for making the investment environment in Nigeria even more friendly, '' he hinted.
Earlier, the Chairman of the Nigeria Economic Summit Group (NESG), Dr. Mohammed Hayatudeen, explained that the conference occupies a position of pre-eminence in the league of conferences and added that the NESG was joining forces with the Corporate Council on Africa (CCA) in putting together the conference to establish a U.S.- Nigerian Business Forum to be held yearly; enrich and deepen the partnership by getting its members to participate actively in each other's programme of events by all year round; serve as a vehicle for identifying investment opportunities and facilitate the establishment of joint ventures and to inform each other of the substance of their policy recommendations to national governments in the respective countries.
The CCA Chairman who is also the Vice President of Daimler- Chrysler, M r. Frank Fountain, who also addressed the conference stated that it was aimed at among other things to address the needs of the Nigerian market, such as the role of businesses in tackling the HIV\AIDS epidemic.
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