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NIPC to assist states stimulate investment

By on September 18, 2014

The Nigerian Investment Promotion Commission on Thursday said it would assist states to stimulate both foreign and domestic direct investments to enable them realize their full economic potentials.

The Executive Secretary to the commission, Mrs Saratu Umar stated this in Abuja during a courtesy visit by the Deputy Governor of Oyo State, Chief Moses Adeyemo.

The visit of the deputy governor was part of measures to ensure the development of the state into one of the top investment destinations in Nigeria.

Umar, commended the state for the move adding that the development was coming at a time when the country is witnessing an increase in foreign direct investment inflow owing to the reforms by the federal government.

She said in collaboration with the commission, six states-Ogun, Bayelsa, Delta, Cross Rivers, Niger and Rivers have successfully established their Investment Promotion Agencies.

She said the establishment of the IPAs would help build synergy between the states and the NIPC as well as assist in solving some of the challenges faced by investors when starting and doing businesses in the country.

She said, “I would like to invite the Oyo state government to take full advantage of NIPC’s services for greater synergy and improvement of its investment drive.

“With solid minerals deposit such as marble, gold and granite, the full potential of which, are yet to be exploited, active collaboration with both local and foreign investors would ensure full exploitation of these resources for the rapid socio-economic development of the state.”

She expressed optimism that the state can build on these advantages to enable it compete more favorably for FDI while stimulating more domestic investment that will create more jobs and ensure inclusive growth.

Also speaking, the deputy governor said state is blessed with a lot of resources that could enable it attract investors.

He said since investment is one of the vital ingredients for

 

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