Bi-lateral Relationship With US Will Attract Foreign Direct Investments – Senator Alasoadura

Minister of State, Ministry of Niger Delta Affairs, Senator Omotayo Alasoadura.

The Minister of State, Ministry of Niger Delta Affairs (MNDA), Senator Omotayo Alasoadura has said there is need to strengthen bi-lateral relationship with the United States of America(USA) in other to attract Foreign Direct Investments (FDI) and explore avenues for diversification in the Niger Delta region and the country at large.

The Minister stated this in a statement made available on Thursday by the director of Press and Public Relations , Deworitshe Patricia.

TheFact Nigeria reports that the Summit was aimed at forging international economic cooperation for investment, build institutional exchanges and exploring avenues for diversification of Nigeria’s economy.

Alasoadura who spoke recently at the Summit titled,”Economic Development, Investments and Local Governance Mission,” in the USA ,said,”it will create an effective bilateral opportunity between private and public sectors of both nations”.

The Minister who gave a brief history of the Ministry said it was created in September 2008 to serve as the primary vehicle for the execution of government’s policies, plans and programmes for the rapid socio-economic development of the region.

He also highlighted the role of the Ministry’s parastatal, which is the Niger Delta Development Commission (NDDC) whose mission is to facilitate rapid, even and sustainable development of the Niger Delta into a region that is economically prosperous, socially stable, ecologically regenerative and politically peaceful.

He therefore pointed out that the Nigerian Government is determined to reposition the country, particularly the Niger Delta region, in terms of provision of infrastructures, for investment promotion, noting that the evident in the Presidential approval in 2020 for the establishment of InfraCo Plc, which is a world-class infrastructure development vehicle with combined debt and equity take off capital.

The Minister also stressed that with the strengthening of the Nigeria Sovereign Investment Authority NSIA, with an additional inflows from the government to the tune of US$2 billion since the initial take off grant of US$1 billion in 2012 is all geared towards repositioning the region and Nigeria at large.

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