The Nigerian Investment Promotion Council says it making plans to ensure that Nigeria becomes a preferred investment destination of choice.
The Executive Secretary, NIPC, Saratu Umar, said this at the stakeholder’s engagements held in Abuja on Tuesday.
She said the NIPC was also strategising to increase national attractiveness and branding strategies at the national and sub-national levels to deepen investment promotion drive of Nigeria.
She said, “Flowing from the foregoing, the investment promotion drive of the country is largely fragmented manner thereby depriving us of cohesive leverage we could have achieved if we synergised our efforts and resources,” Umar said.
She said the absence of a coordination and monitoring mechanism had left the investing community largely for the most part in a state of confusion, adding that the coordination of investment promotion activities between the National IPA, NIPC, and sub-national IPAs for the effective implementation of investment promotion activities was largely absent.
Umar noted that the country level effort should be created for investment promotion under the coordination of the national IPA, NIPC and protocols put in place, to avoid a ‘race to the bottom’ conduct, which would eventually be detrimental.
According to her, Nigeria is a resource rich country with a potential that is unrivalled by any other country in the world, adding that this potential was yet to be fully harnessed.
She said, “The level of resource mobilisation is insufficient to harness this potential for inclusive growth and national development, and this is where the role of investment promotion comes in to attract Foreign Direct Investment and mobilise local direct investment.”
SOURCE: THE PUNCH
