The Vice President, Yemi Osinbajo, SAN yesterday stated that the administration of President Muhammadu Buhari, in consolidating efforts made in its first term, is committed to expanding opportunities for investments in renewable energy, technology and other sectors of the Nigerian economy.
Osinbajo made the declaration while responding to questions from a cross section of Norwegian investors at a round-table event at the Nordic-African Business Summit holding in Oslo, Norway.
Making specific reference to the gains made in reforming the energy sector, the Vice President said, “some of the issues around the power sector have been around the whole question of trying to open up for more willing buyer, willing seller arrangement as opposed to selling to the grid.
Continuing, the Vice President said: “There are millions of households waiting to be served with power; we think that simply opening the market and ensuring that people are able to build their contacts and realise profits from their supplies is really what government would rather do.”
In creating the enabling environment for youths to leverage technology, Prof. Osinbajo said: “our focus has been on trying to encourage young people actualize their dreams within the Nigerian space.”
Citing the work done by the Creativity and Technology Group of the Industrial Policy and Competitiveness Advisory Council, the Vice President said the efforts of the group is expanding the horizon for local Fintech companies, run by young Nigerians, to grow and undertake bigger tasks.
According to him, “the first thing is to democratize that space, which is what we are doing so that there is adequate competition. There are progressive stuffs going on even without any of the reforms yet, but the reforms are major. Digitizing Nigeria Drive, which is really what this is all about. The whole idea is to open the space up for competition.