Nigerian president pledges to invest in infrastructure

14/10/2011 - Abuja property & investment news Posted by Bob Brunskell
Nigerian president pledges to invest in infrastructure

The president of Nigeria Goodluck Jonathan has said that the Federal Government will invest proceeds from the petroleum subsidy into building infrastructure in the country.He also stated that he would review external trade and tariff policies to promote domestic industries and create more jobs.Delivering a keynote speech at the Presidential Retreat at the Banquet Hall of Aso Rock in Abuja, Mr Jonathan said: "In the event of deregulation, this administration is committed to investing the resources in tangible infrastructure and providing social safety nets and other mechanisms to moderate the impact of the reforms on the most vulnerable segments of our society."He also told the delegates from the country's private sector that the government will work to adopt a "more effective" tariff policy and implement a 48-hour ports clearance reform.Other areas of focus will be on Nigeria's manufacturing sector - particularly for leather, textiles and food processing - and promoting housing and construction.