South Africa, Nigeria others to get $68bn Investment

Photo: World Economic Forum

Photo: World Economic Forum


Managing Director of the World Economic Forum, Mr. Phillip Rosler, has said that a fresh investment commitment of $68bn has been secured for the African continent as a result of Nigeria’s hosting of the international conference.

Rosler gave the figure on Friday in Abuja during the closing media briefing of the forum which had at its theme, “Forging inclusive growth, creating jobs.”

The three day forum was attended by over 1,500 delegates from about 80 countries.

He said the amount would be invested in key sectors of the African economy such as education, health, infrastructure and agriculture among others

The WEF MD described Nigeria’s hosting of the forum as one of the most successful  in the history of the organisation, adding that despite the security challenges in the country, the event recorded impressive turnout.

For instance, he said within the three day event, a total number of 48,000 articles were written on the forum, noting that the figure is three times higher than what was reported in the last edition.

He said, “It was a very successful World Economic Forum on Africa. We have more than 48,000 articles from these three days in Nigeria in comparison to last year which wad 16,000 and this is more than three times higher than last year.

“This is a proof that Africa is very important to the people of the world. We not only want to create a future of interest but we are committed to improving the state of Africa.

“To put all the monies together which was committed by the Chinese and others, we have about $68bn in the next years for Africa and the African people for specific project like infrastructure, energy, healthcare and vary importantly education.”

He said through the global conference, the Federal Government had been able to secure huge solidarity around the world on the need to end terrorism.

“We will not allow the terrorists to dictate the African agenda. And this is the main message from this WEF.

“And let me say again that we will make sure that all these projects are successful in Africa, ” he added.

Meanwhile, President Goodluck Jonathan has approved the sum of $10m (N1.6bn) for the safe school project.

The Minister of Finance, Dr. Ngozi Okonjo-Iweala who disclosed this also at the media briefing noted that the $10m would be added to the initial $10m provided on Wednesday by the Nigerian business community, bringing the total amount for the project to $20m (N3.2bn).

The move, according to the minister, became imperative to ensure the safety of all schools in order to prevent the kind of abduction that occurred at Chibok in Borno state.

She said. “The forum is a success because it enables us mobilize all participants to support us to bring back the girls.

“The international community has rallied round us to ensure that we bring back our girls. President Goodluck Jonathan has just announced another $10m for the safe our school project to be added to what the international community has announced.

“During the rally to bring back our girls, there have been added interest by investors to invest more into Nigeria.

“And this will help us create more jobs and ensure inclusive growth. Our commitment to bring back our girls is unwavering.”

Also speaking on the abducted girls, the former British Prime Minister and current United Nation envoy on education Mr. Gordon Brown, said the program which would commence with 500 schools as pilot will help increase enrollment level in schools.



( Courtesy Business News & World Economic Forum …… Source ………. New Africa Business News)

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