… To woo foreign investment, says Sadiku Yewanda
By Victor Akaa, Abuja
The National Investment Promotion Commission has mapped up some initiatives which will make Nigeria a most attractive investment destination in the world in order to woe foreign investors in the country.
The Executive Secretary of the Commission Ms. Yewande Sadiku disclosed this to journalists in Abuja.
Ms Sadiku said some of these initiatives which includes the iGuide Nigeria;Compendium Incentives in Nigeria, 2018 daily NIPC Intelligent Newsletter and Announcements, Investment profiling, Pioneer Status Incentive (PSI)Reforms and Revamped Website among others
She further explained that the rationale behind the revamped website is to help sell Nigeria as the investment destination in the world to attract more and competitive investment in the country.
She also said, to create an enabling environment for the states to thrive economically, the Commission has designed a certification programme to help the states investment readiness and opportunities in their localities to attract investment.
“NIPC has completed the certification of 3 states which include Ogun state with 4 stars, Osun state with 3 stars, and Oyo state also given certificate”
Sadiku further lamented that the Commission has over the time faced with the challenge of insufficient funds in spite the annual budgetary allocation accrued to it.
“In 2017,1.36 billion naira was allocated to the commission, only 9.80million naira was released and 52.3 million naira was used for overhead running, in 2018 only 87 million naira was released to the commission ”
According to the Ms sadiku, the Commission has mapped up a strategic plan for 2019 which includes development of an e-business facilitation platform, undertake investment impact assessment, proactive investment promotion strategies among others.
Recall that the Act that created the NIPC has empowers it to encourage, promote, and coordinate the activities of investment in Nigeria.