TheCable

Residents of the Federal Capital Territory (FCT) will have direct economic benefits from the World Economic Forum for Africa (WEFA) holding in Abuja, Coordinating Minister of the Economy and Minister of Finance, Dr. (Mrs.) Ngozi Okonjo-Iweala said on Monday.

Speaking with the media in Abuja, Okonjo-Iweala urged residents of the city to focus on the positives of the forum and ignore the disturbances.

She defended government’s decision to shut down schools and other activities in the FCT, saying the move was made for the benefit of citizens, as the city will be full of guests who may have security protection, which may consign citizens to sufferings if they have to use same road with the guests.

“Government regrets the inconvenience to FCT residents, however, there are direct economic gains,” she said.

“All the hotels in Abuja are fully booked. If we pull this off and convince the international community, they will come back, generating more income first for residents.”

Okonjo further revealed that the Federal Government operates a policy that is more beneficial to indigenous investors, knowing the importance of direct domestic investment in attracting foreign investors.

Flanked by Elsie Kanza, director of WEFA, Okonjo reiterated the readiness of the country to host the 24th edition of the forum, which holds from May 7, 2014 to May 9, 2014.