100 foreign investors eye business opportunities in Nigeria

Posted by News Express | 27 December 2015 | 4,012 times

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The Executive Director, Nigerian Investment Promotion Commission (NIPC), Mrs Uju Baba, on Saturday said that more than 100 foreign investors had visited the country between June and December; adding that the Federal Government would ensure proper use of incentives provided to investors.

Baba, who disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja, said Nigeria remained an investment destination in Africa.

She, however, said that the investment business was slow, adding: “Because we are going through post-election period, government activities have slowed down to certain extent and that affects the investment climate.”

“Many investors are coming on exploratory visit to find out what Nigeria can offer to them. So, from June to December 2015, we received more than 100 exploratory visits.”

She said that since the appointment of ministers by President Muhammadu Buhari, the country had received different set of investors.

“They are no more on exploratory visit; they are coming to the commission to facilitate meetings with the various sectors and ministries.”

She said the investors had confidence in the country’s investment climate despite the challenges they may encounter.

The director called on the investors to go through the commission for proper legal framework as the present administration was more concerned with rule of law and due process.

On incentives, she explained that, they were provided to stimulate private sector investment from within and outside the country.

“This is part of efforts to provide enabling environment for the growth and development of industries and inflow of foreign investment.

“This will also stimulate the expansion of domestic production capacity.

“It is hoped that the incentives will help revive the economy, accelerate growth and development and reduce poverty.”

The director said the incentives will cover all the sectors of the economy, adding that the nature and application of statutory, export and other incentives had been simplified.

“Because some of the investors are misusing the incentives, the federal government has decided to put in place measure to ensure proper use.” (NAN)

•Photo shows NIPC Executive Director, Uju Baba.

Source: News Express

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