Nigerian president seeks new thrust to grow economy

08:32, May 30, 2011      

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Nigerian President Goodluck Jonathan promised in Abuja on Sunday that new thrusts would be introduced to grow the Nigerian economy to enviable heights.

"We will continue to encourage local enterprises to take advantage of the economy to create jobs," President Jonathan said after he was sworn in for a new term of office.

"We must form ethical and financial partnerships with the rest of the world as no country can do it alone. We must be ready to welcome sustainable investments into our country," he added.

According to him, the banking and financial sectors must be ready to support the real sector of the economy to create jobs and prosperity for its citizens.

President Jonathan stressed that there is the urgent need to grow the real sector of the economy in order to mitigate the country's exposure to the volatility of unstable oil prices.

The president appealed to all stakeholders to join his administration in ensuring that the economy is brought to a level that would earn the country respect in the comity of nations.

He assured that policies would be put in place to ensure that small-scale and medium scale enterprises thrived.

The Nigerian leader said it is noteworthy that return on investment in Nigeria is among the highest in the world.

President Jonathan said attention would be paid to electric power supply as it is an important factor in rejuvenating the industrial sector.

He assured that corruption would be fought to a standstill and called on Nigerians to join him in the crusade.

"It is our collective responsibility to wage the war against corruption for the overall good of all," he added.

"Nigeria is a nation where positive change must be sustained. This is the time for transformation. This is the time for action. Nigeria can only be transformed if we all contribute our quota," he said.

Source: Xinhua
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