By Emmanuel Elebeke

The Federal Government on Tuesday approved the participation of a US company in the turn-around of moribund infrastructure and ailing industries across Nigeria.
The approval was given when a delegation from Cerberus/Dyn Corp of the United States of America visited the minister of Budget and Planning, Udoma Udo Udoma in Abuja.

Speaking on their mission, spokesman for the team and former Economy and Finance Minister of Egypt, Youssef Boutros Ghali, told the Nigerian minister that his group will like to participate in the turn-around of economic infrastructure in the country, including financing and turning around  moribund and ailing industries.

Boutros-Ghali informed the minister that Cerebus/Dyn Corp has capacities in funding and turning around distressed companies and rehabilitating moribund infrastructure in several areas including logistics, technology, agriculture,pharmaceuticals, oil and gas.

He stressed that as the leading economy in the African continent, Nigeria needs such investments. He said that the current economic reforms going on in the country requires private sector support, adding that his group can facilitate investments to the tune of at least $1 billion by the end of 2016.

The Minister told the delegation that their interest fits into what the FG was trying to do.
Udoma said government’s focus is on stimulating the environment through the creation of enabling infrastructure that will entice private investors to contribute meaningfully to the economy.

He re-emphasised Federal Government’s determination to create enabling infrastructure for private sector participation in growing the country’s economy.