Nigeria is Investment Destination - Jacob Zuma

South Africa’s President, Jacob Zuma, on Tuesday said Nigeria is an investment destination.
Zuma said South African companies have move from four in 1999 to over 120 companies in Nigeria at present.
Zuma disclosed this while addressing a joint session of the National Assembly.
He said South Africa will help Nigeria to diversify her economy.‎


He equally recalled how Nigerian civil servants paid “Mandela Tax”, which was deducted directly from their salary, adding that this is the time for Nigeria to get the right policies towards economic diversification to enable her take a leap from being a consumer nation.
Zuma said he was in Nigeria to discuss how both countries could strengthen their existing bi-lateral relations and open new avenues for partnership.‎
He acknowledged that South African business concerns had increased their presence in Nigeria to “more than 120”, up from just four in 1994.

Zuma stated that as the two leading economies in Africa, Nigeria and South Africa could partner to improve the lot of the continent and free its people from the economic pressures coming from outside its territories.
He cited electricity generation, agriculture, aviation and solid minerals as among a whole lot of areas that the two could partner for further economic improvement.
Zuma said: “Nigeria also hosted some of the exiled freedom fighters from South Africa with numbers increasing after the Soweto students uprising, June 1976. By June this year we shall commemorate the International day of the African child since it was instituted in 1991.”
Zuma further said Nigeria boycotted the 1978 and 1986 Commonwealth Games in solidarity with South Africa in her struggle to end apartheid.
He equally recalled that Nigeria and South Africa have signed over 34 memorandum of understanding, adding that now is the time to translate those agreements into fruitful venture.

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Nigeria is Investment Destination - Jacob Zuma Nigeria is Investment Destination - Jacob Zuma Reviewed by The Amour Circle on 23:19:00 Rating: 5
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