The Nigerian Investment Promotion Commission (NIPC) on Monday pledged to work with relevant government Ministries, Departments and Agencies (MDAs) of both countries to set up the Nigeria-Chad Joint Business Council. The Council is expected to serve as a platform for the development of stronger commercial ties and the improvement of bilateral trade and investment flows between the two countries.

This was made known by Mr Daniel Awurum Head, Press & Protocol, in a press statement.

Awurum said it was the outcome of a meeting between the Management of NIPC and a high powered business delegation from the Republic of Chad led by Nigeria’s Ambassador to Chad, His Excellency, Sadique Abubakar and his counterpart, Ambassador of Chad to Nigeria, His Excellency, Abakar Saleh Chahaimi in Abuja on Friday.

Speaking, Ag. Executive Secretary/CEO, NIPC, Mr Emeka Offor, said: “NIPC will facilitate the setting up of the Joint Business Council in accordance with our mandate, which is to encourage, promote and coordinate investments in the country.”

In the same vein, Ambassador Chiami said: “Both countries recognise the potential value of the informal trade activities across their borders."

“There is, therefore, the need to formalise business activities between both countries,” he stated while making the case for setting up the Joint Business Council. He wants the NIPC to translate its Book of States to the French language. This is to enable Chadian businessmen to understand and appreciate Nigeria’s investment environment.

On his part, Nigeria’s Ambassador to Chad applauded the decision saying that it will increase the trade and investment between both countries. Ambassador Sadique who was Nigeria’s former Chief of Air Staff, said: “I think we can also look forward to how we can promote trade through cargo flights between both countries.”

Trade and investment relationship between Nigeria and Chad, which were majorly informal, predates the political independence of both countries.

The establishment of the Joint Business Council is expected to foster bilateral relations between key public and private sector stakeholders in both countries and drive the actualisation of tangible investments which, will drive economic growth and development.

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