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Nigeria's net on investment returns among best globally

12 June 2014, 15:31

Abuja – Nigeria’s net on investment returns' hovers between 35 percent and 45 percent and is among the best globally.

Saratu Umar, the Executive Secretary of the Nigeria Investment Promotion Commission (NIPC), made the assertion on Wednesday in Abuja.

According to her, the profile of Nigeria’s net returns on investments remains among the best globally.

She said that the federal government's investment incentives to attract foreign investors had been promoted effectively by the commission.

"Everything in the country's business environment has so far worked together for the growth of the economy.

"There is no time or moment in the history of the country that we recorded the quantum of inflow of foreign investment such as now.

"The secret is simply that we are doing well with the new investment guidelines imbedded in the country's Transformation Agenda policy,” she said.

According to her, the vibrancy in the sector has led to 7.5 percent growth of the economy in the first quarter of 2014 as against 7.2 percent in 2013.

Umar said that a statutory investment incentive with about three years of tax holiday was working the magic, adding that "repatriation of profits is still pegged at 100 percent.”

"You see why Nigeria is an investment destination? We encourage foreign companies to repatriate their profits to their homelands or to such places where further investments are required.

The Executive Secretary said that NIPC would continue to act as the stimulant of the country's economy, stressing that the commission will continue to encourage both local and foreign investments.


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