Return on Investment: Nigeria is World Number 4 with RoI of 34% – Aganga

Nigeria is ranked world number four in terms of Return-on-Investment (RoI), Minister of Industry, Trade and Investment, Segun Aganga has said. In spite of flakes received on daily basis from opposition figures in the country, Aganga also said that the country is the 10th fastest growing economy in the world.
He however warned that if there is no divestment from oil and gas into other key sectors, the Nigerian economy might very well be in trouble as most countries are beginning to discover oil.
Aganga said, there are 44 minerals in the country, but if there is no adequate investment in key sectors and Nigeria continues to export raw materials, the country is sure to be in danger soon.
He said, his ministry has been able to convert sugar cane to sugar, thereby providing employment to Nigerian youths.
He also acknowledged the contribution of the Bank of industry (BoI) to sectoral development. According to him, the industry bank has upped its lending from N42 billion to N64 billion in recent times.
He added that investment in the leather industry has yielded export value of N108 billion recently.
He said the next phase where there is going to be a boom is the automobile industry where Nissan has agreed to set up an assembly plant in Nigeria. According to him, others arrangements are in them pipeline.
Aganga said all those earlier opposed to the automobile policy have bought into the idea after explaining to them.

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