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Anti-corruption war attracts investors to Nigeria - NIPC

12 October 2015, 20:38

Abuja - Mrs Uju Baba, Executive Director, Nigerian Investment Promotion Commission (NIPC), has said that more investors have shown interest in investing in Nigeria due to the current fight against corruption and insecurity.

Baba made the disclosure at the Nigeria Brazilian Business Forum in Abuja on Monday.

She said that a lot of investors had thronged the country because of the present administration’s efforts to improve the business and investment climate.

"The Brazilians have been coming but had not really stayed but now they are coming back because they believe that rule of law can now inspire the investor’s confidence.

"Also with the fight against corruption and insecurity, the business and investment environment is now right for any investor to have
interest in this country.

"The international community now believes that efforts are being made to curtail challenges investors face in Nigeria, "she said.

Also read: Buhari promises head-on fight against corruption

Baba said Nigeria had abundant opportunities for investment in priority sectors of agriculture, power, manufacturing, solid minerals, critical infrastructure and waste management.

She added that NIPC was facilitating investments in the country and taking more pro-active role as an agent of development.

Baba said the commission was repositioning itself to attract quality investments in productive sectors and mobilising a supportive business service as provided in the One-stop-shop centre.

She said the One-Stop Investment Centre was the government’s strategy to streamline investment procedures, provide prompt, efficient and transparent services and coordinate investment-facilitating agencies.

Baba said the commission was working with state governments to improve national competitiveness.

"This will ensure effective coordination of investment promotion, facilitation and advocacy,"she said.

In an address, Mr Adamu Emozozo, Nigeria’s Ambassador to Brazil, said investors from Brazil believed that the investment atmosphere in the country was conductive.

Emozozo said the visit was to increase the collaboration between the two countries in the areas of agriculture, food security, power, education aviation, mining and culture.

"We want to build on what we are starting now for better future of the country, "he said.

Emozozo said that the volume of trade between Nigeria and Brazil was in the volume of N10 billion as at 2014 in the areas of petroleum and gas.

He said Nigeria was making efforts to improve in other areas.

Mr Evaldo Silva, Chief Executive Officer, VIA Marketing Porto Alegre and leader of the delegation, said they intended to bring technology for rice production into Nigeria.

Silva said the technology would enable the country to become a major rice producer.

"Brazil has embarked on reforms, policies and plans that have enabled it attain significant economic growth, diversify its economy and build up its industrial capacity," he said.

Silva said Brazil was the world’s seventh largest economy by nominal GDP and one of the fastest growing in the world with an average annual growth rate of five per cent in 2012.

"The Nigeria-Brazil relation blossomed in the last decade with signing of bilateral agreement on trade and culture," he said. (NAN)



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