President Goodluck Jonathan has an enormous amount of work to do within a short time. Besides, the numerous socio-economic challenges facing his administration at the home front, the President is also confronted by the pressing need to market the country before the international community, especially, investors and donor agencies. The G-20 summit to which the government of Canada has invited him, will serve as a veritable platform to canvass support and corporation.

Early in his administration last march, President Jonathan took time out to visit the United States, US, and France. Foreign affairs analysts believe that it was indicative of a compelling need to build new bridges across the world. Topmost on the expectations of the international community from Nigeria is a credible, free and fair election in 2011. The President will have the opportunity of assuring the world that their expectations would be met in this regard.

President Jonathan will also be required to address other issues that affect international trade and investment in Nigeria before the international community. Some of these issues include delivery of electricity, which many investment experts believe has held the Nigerian economy down for too long. The Petroleum Industry Bill, PIB, which is currently before the National Assembly, is yet another major area of concern to international investors in the nation’s oil and gas sector. The bill is seeking among others; ways of making Nigerian government earn more revenue from oil exploration through multinational oil companies. 

Nigeria’s ailing manufacturing industry; its decaying infrastructure, the collapsing education

and health care sectors are some of the areas the country may be seeking the assistance of the international community at the summit this June. It is also believed that other developmental challenges facing Nigeria and which may attract attention are poverty, security and how to repatriate the country’s looted funds. That, foreign affairs analysts say, will also bring to the fore, issues of corruption and transparency in conducting government affairs.

According to informed commentators, the Nigerian Extractive Industries Transparency Initiative, NEITI, which is a local blend of a global initiative emanated from the 2005 summit held in the United Kingdom, UK. The thinking is that the June summit will serve as a good platform to review the initiative and its implementation.

Prior to Jonathan’s ascension to power, the country was bedevilled by unfavourable image abroad. The government of late President Umaru Yar’Adua, in which Jonathan served as Vice President, created an air of uncertainty with the many policy reversals. Many foreign investors held their breath and watched Nigeria’s investment climate from a distance. In his three years in office the late President did not appear at any major global summit. In effect, Nigeria was dwarfed by relatively smaller African countries.

Among other things, this summit will serve as a fresh beginning for Nigeria after being isolated for about three years. The isolation became obvious at the World Economic Forum held in Davos, Switzerland early 2009 as Nigerian leaders were left out of the list of invitees to the global event. Three months after, world leaders met again in London, under the

the aegis of the G-20 to deliberate on how to manage the fallouts of the global recession. Again, Nigeria was not invited. Many observers reckoned that it was a major setback for the country in its quest to be among the top 20 economies of the world. In the aftermath of the neglect, the then President Yar’Adua described as “sad”, the day 20 leaders of the leading countries in the world met and Nigeria was not there. But the exclusion was said to be the making of the leadership of Nigeria.

One observer remarked that the organisers of the summit saved Nigeria the embarrassment of its leader appearing before other world leaders. The summit is said to be one of very articulate leaders. The exclusion of Nigeria from such global events in the Yar’Adua years was a radical departure from what obtained previously. For instance, Nigeria was present at the 2006 and 2007 editions of the World Economic Forum. According to a research professor at the Nigerian Institute of International Affairs, the exclusion of Nigeria at some of those summits highlights lack of economic achievement. With policies like the Seven-Point Agenda, Vision 2020 and several others, implementation remained a serious challenge.

The G-20 was initially made up of a group of eight leading economies in the world. With its expansion to include emerging economies it has become a more prominent group especially in the last three years. The leading countries in the group are the US, Canada, Germany, France, Russia, UK, Japan and Italy. South Africa is the only African country that has joined the league of new entrants like China and India among others in the expanded group.

 

Jonathan:

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