The Nigerian Investment Promotion Commission (NIPC) as part of her efforts towards the diversifying Nigeria's economy from oil into critical non-oil sectors has continued to play host to foreign investors in a bid to attract Foreign Direct Investment (FDI) into the country and ensure its economic growth. The Commission on Monday, October 12th, hosted a 15 man Investment delegations from Brazil who had indicated interest in the non-oil sectors of the economy.
The Executive Secretary of the Commission, Mrs. Uju Aisha Hassan Baba while addressing the delegation at an interactive Investment forum, stated that a lot of foreign investors had shown interest in Nigeria in recent times and this was principally a result of President Muhammad Buhari’s visits outside the country and the policy direction of the present administration to develop the country through massive Investments.
She assured the Brazilian delegation that NIPC is the only Agency of Government empowered by law to coordinate all Investment promotion activity in the economy. To this end the Commission has come up with its new strategy known as “Diamond Project” of taking Nigeria to a future beyond oil and is ready to play a more proactive role to attract quality and beneficial Investment into the productive sectors.
According to her “NIPC is now taking on a more pro-active role as agent of development by repositioning itself to attract quality Investment in productive sectors and mobilize supportive business services such that are provided in our One Stop Investment Center (OSIC)”.
In his remarks, the Ambassador of Nigeria to Brazil, Ambassador Adamu Emozozo noted that after years of business relations, Nigeria and Brazil achieved over N10 billion volume of trade as at last year, stressing that this trade has been essentially in the area of petroleum and gas but efforts are being made to see how this can improve in other areas.
He stated that the Brazilian business delegation to Nigeria is interested in investing in areas of Infrastructure, Construction, Agriculture and Waste Management adding that “these are areas we think that Brazil has developed some level of competitive advantage and we think that Nigeria, at our level of development, will benefit from engagement with Brazilian companies.” The delegation was led by Mr. Elvado Silva Junior and the Brazilian Ambassador to Nigeria, Mr. Joao Lima.