 Distinguished guests, ladies and gentlemen, we are today witnesses to an event of monumental importance both to the Nigerian foreign policy and our economy, the launch of the Nigerian Economic Diplomacy Initiative, this is the convergence of our global reach and influence with the tremendous opportunities for commerce and industry in Nigeria, a game-changing synergy that has been waiting to happen for years. So permit me to specially commend our history-making Honourable Minister of Foreign Affairs, Jeffrey Onyama, and his able collaborator, the Honourable Minister of Industry, trade and investment, Dr. Oke Enilama. The Honourable Minister of Foreign Affairs, Jeffrey Onyama, let me also commend you for something that you do so well, which is giving very generous credit to members of your team. This is very remarkable, this is very remarkable indeed, and I think there will come to know Sheung Omobo quite well from your introduction, your very, very generous introduction of her, and I also want to commend her for the good work that she's done. The Nigerian Economic Diplomacy Initiative is designed to complement the fundamental economic objective of the federal government of Nigeria, which is to improve the well-being of Nigerians as individuals and as a collective. Our national economic aspirations, the medium term, as you know, are contained in our economic recovery and growth plan, which emphasises sustained growth to generate the large number of jobs that we so urgently require. We're also developing an economically empowered, healthy and educated workforce, and we are committed to providing the infrastructure, especially power, roads, rail and broadband infrastructure that is fundamental to the economic pace that we have set for ourselves. As designed, this initiative fits very well into the ongoing work towards an enabling architecture of laws, of rules, of processes and tools that will facilitate business. Economic diplomacy, as most of us know, is the use of diplomatic methods to address national economic interests. And of course it has a key role to play in our case in achieving the objectives of our economic recovery and growth plan. It is the means by which we intend to manage global interdependence relating to trade, to investment on financial flows and the articulation of international economic rules and participation in the global value chain. So it's imperative that, given the size of the Nigerian economy, we are well positioned to actively participate in international economic affairs in a manner that is collaborative and mutually beneficial to us and of course to our partners. Nigeria's participation in international economic processes must take account of official multilateral and bilateral relations, as well as trade and investment flows. Multilateral economic engagement requires engagement in the architecture and rules at global and regional levels. This is why we have participated in African integration processes since the adoption of the Lagos Plan of Action and the treaty establishing the African economic community. It's also why we participated actively in negotiations to establish the African continental free trade area and why our attempts to build greater understanding on what it will entail for us as a nation should not in any way become stood or interpreted as a diminished commitment to our Pan-African ideals. We are committed to ideals who are Pan-African ideals but committed to all of the ideals that have stood us out as a country determined to integrate Africa. But we're also committed to ensuring that adequate consultation is made especially with the private sector before we make further commitments to some of the international to some of the international treaties that are important to us. The same is true about strengthening bilateral economic ties at the official level on issues such as technical cooperation, air services, double taxation, investment promotion and protection, fishing rights, etc. On the other hand trade and investment ties between countries are driven in the main by their private sector actors. In the case of Nigeria the private sector is particularly important because it accounts for well over 90% of our GDP. We are thus fully aware that building the vibrant and competitive national economy of our dreams relies on enabling the innovation and dynamism of our private sector operators to flourish. Given that private sector actors and indeed the talented individuals who drive trade and investments are numerous and dispersed it follows that they may not have access or the means to obtain the information they need about the opportunities that are bound especially abroad. There is a similar gap between the skills needed in the country and the skills that exist in the Nigerian diaspora. So the vision of the only minister of foreign affairs to use the Nigerian economic diplomacy initiative to bridge these vital gaps is a very welcome development indeed. It is particularly noteworthy that this initiative will use information technology to provide a platform that will match Nigerian firms with trade and investment opportunities that exist abroad in a timely and accurate manner. This will benefit our smaller medium-scale enterprises by facilitating their access to global markets. It will at the same time make it easier for them to conduct businesses across borders which is a key component of our ongoing efforts to improve the domestic business environment. It's often said by foreigners that one of our strengths as a country is the quality of our people who work as professionals abroad and this of course has been said here also repeatedly. Now this is flattering but it can sometimes impact negatively on economic development especially because it also means brain drain. The fact that this initiative will enable Nigerians in the diaspora to find opportunities to contribute to national development through short-term assignments or by securing jobs is a particularly pleasing component of this initiative and is one that I think we ought to pursue vigorously. It's also noteworthy that the Nigerian economic diplomacy initiative will bring in the capacities of the Nigerian Foreign Service through the Ministry of Foreign Affairs and its network of over 114 overseas missions to bear in promoting trade and investment flows from Nigeria and the rest of the world. It's very important for us as a nation to effectively utilize of course our human and material resources and I think this initiative will contribute to this objective by enhancing the capacity of our diplomats to conduct economic diplomacy at a very practical level at home and abroad. Partnership is of course a key requirement for success and when an initiative cuts across the roles and functions of several key actors I think that it challenges all of our skills in establishing those partnerships and I really do endorse what the only minister for industry trade and investment has said about the importance of partnerships and the importance especially here of the synergies between government agencies and now the synergies between local government agencies and our foreign missions and of course international partners here and there. So I'm pleased that this initiative brings together key institutional actors not just in foreign affairs but trade and investment, the involvement of the Ministry of Trade and Investment and some of its key agencies, NIPC, the Nigerian Export Promotion Council, as well as leading industry associations and we've heard from the Abuja Chamber of Commerce, we've also heard from MAN. This is a recipe for success and I think that it is to be encouraged and to be commended and we're working as we've always said very closely with the private sector every step of the way in economic development plans. All told, once it is up and running the Nigerian Economic Diplomacy Initiative stands to make a critical contribution to achieving the objectives of our economic recovery and growth plan. I want to urge all those who have been mandated with ensuring the success of this initiative to commit diligently to achieving all of these aims. So I'm very delighted to officially launch the Nigerian Economic Diplomacy Initiative and to dedicate it for the use of Nigerian businesses, professionals locally and internationally especially professionals in the diaspora and ultimately to the economic progress of our dear nation. Thank you very much.