NIPC Tightens Economic Ties with Foreign Missions to Boost Non-oil Export

The Nigerian Investment Promotion Commission (NIPC), in its commitment to take Nigeria to the future beyond oil, has resolved to work in close collaboration with foreign embassies to identify targeted investors to be attracted into the economy, especially in the non-oil sector.

 

Uju Aisha Hassan Baba, executive secretary of the Commission, who met with Gustavo A. Dzugala, Argentine ambassador to Nigeria, and Lulu Louis Mnguni, South African high commissioner to Nigeria, at separate meetings, yesterday in Abuja, said “NIPC has put new strategic framework in place to promote the abundance investment opportunities of the country, especially in the non-oil sector.”

The framework, known as “The NIPC Diamond Project – A future beyond Oil” has as its components Investment Climate: Financial value chain, sector and geographic prioritisation, regulatory support and investor aftercare, market intelligence, mega projects and investors (game changers), national branding and image and investor engagement platform.

Baba, at the meeting with the Argentine ambassador, noted that Argentina had critical role to play in Nigeria’s present drive to attract investment into the country, as they were much known for agricultural development, saying “we have identified Argentina as the country to partner with to attract more investments.”

The NIPC chief executive maintained that the present administration under President Muhammadu Buhari was determined to move Nigeria forward beyond oil, as such the commission was poised to attract the much needed investment in the non-oil sector into the economy, adding that “we shall work with the Argentine Embassy and other foreign embassies in the country as the focal point of investment promotion and facilitation to attract more Foreign Direct Investment (FDI) into the country.”

Earlier, the Argentina ambassador promised his embassy’s readiness to work with the commission to bring more investments into the country from South American countries.

The return on investment in Nigeria is very high, as such the Argentine investors are well prepared to invest in the country, he said, pointing out that “we are very good in agriculture, pharmaceuticals and transfer of technology.”

He said they have been discussing with the Federal Government on how to pro- mote women in agriculture in Nigeria, as they have been doing in other countries of the world, saying “Nigeria has a very fertile land for the promotion of agriculture and our investors will ex- plore this area.”

At the High Commis- sion of South Africa, Baba solicited the support and cooperation of South Africa in the advancement of Nigeria’s economic goal, pointing out that the Federal Government had prioritised the non-oil sectors for the attraction of massive investments.

HARRISON EDEH, Abuja