International and local investors are urging the Nigerian government to channel funds for the development of the oil rich Niger Delta region after its amnesty program to end conflicts.
The call was made on Tuesday at the end of the ninth meeting of the Honorary International Investors Council (HIIS) held at the Presidential
Villa in the capital Abuja. Baroness Lynda Chalker of Wallasey, coordinator of the council, told
reporters after the two-day meeting that such fund should not be used to make millionaire of a few.
"We must praise the Nigerian federal government for the policy which has led to the surrender of arms and demobilization," the official said "The post amnesty fund must be payable to those who are bringing about the change and must be transparently accounted for and controlled," she said.
"The critical capacity building goal must be to provide large scale training to the totality of the youth in the region and certainly not to favor just the militants," she added.
The council also proposed that Nigeria should urgently reposition itself to compete favorably and attract investors with global financial and
technological resources.
In achieving this, the council said there is the need for the country to publicize its success stories.
It urged the government to support the early passage of the Asset Management Company Bill proposed by the Central Bank which is awaiting
consideration by the National Assembly.
The council also called for urgent liberalization of land acquisition and property registration procedures to encourage investors.
"Government should not allow the manufacturing sub-sector, a key part of the real sector, to die," the council said.
"Multiple taxation and other regulatory burdens should not be allowed to kill manufacturing of the goods where Nigeria has clear comparative advantage," it added.
At the meeting, which was attended by Nigeria's Vice President Goodluck Jonathan, presentations were made by ministers, heads of government agencies and the CBN governor, Lamido Sanusi.
The council, inaugurated in 2004, was set up to attract global financial players into the Nigerian economy.