- Nigerians Can Solve Most Complex Issues
The Acting President, Yemi Osinbajo, on Friday said the Nigeria Sovereign Investment Authority had been able to prove that Nigerians have all it takes to deliver on the most complex issues facing the country.
Osinbajo said this while inaugurating the Board of Directors of the NSIA, chaired by Jide Zeitlin, at the Presidential Villa, Abuja.
While thanking those who contributed to the establishment and success of the Sovereign Wealth Fund, he noted that the discipline and rigour with which the entity was founded and operated reflects its capacity to deliver on its mandate.
He said, “Indeed, the NSIA has demonstrated that not only do we have the capacity as Nigerians to deliver on some of the most complex issues, but that we have the men and women to do so.
“Since inception, the NSIA has maintained the track record of consistent positive performance and displayed an impressive capacity for growth.
“We are proud of its accomplishments and commend the staff and management of the institution.”
Osinbajo said the NSIA lent itself to the actualisation of the administration’s agenda for economic transformation in many ways, adding that it had on a number of occasions been involved in the implementation of initiatives central to government’s programmes.
According to the Acting President, as the nation navigates the pathway out of recession and into a self-sufficient and diversified economy, government expects that the NSIA will remain increasingly strategic to the nation’s growth and development.
This, he explained, informed government’s choice of appointees to oversee the affairs of the NSIA as chairman and members of the Board of Directors for a four-year term.
He added that they were nominated to serve on account of their well-demonstrated integrity, patriotism and unique sense of duty.
As representatives of the people, Osinbajo urged them to improve the performance of the authority and strengthen its operations, saying all Nigerians would hold them accountable to the mandate.
Osinbajo added, “Indeed, despite the fiscally constrained environment, this administration has been able to increase the Federal Government’s commitment to the NSIA by 50 per cent, committing an additional $500m.
“Though the Federal Government is committed to saving, the actual charge with this additional capital is investment.
“Thus, as the NSIA moves to the second phase of its existence, the expectation is that the committed capital will be deployed into projects that are in line with the administration’s key priority areas, namely: infrastructure and agriculture in order to improve our economy.
“For example, we expect prompt action on the commodities exchange, a vital component of our agricultural reform effort.
“I am pleased to note your participation with the governments of Delta and Akwa Ibom on the modular refineries project.”