Executive Secretary of the Nigerian Investment Promotion Commission, NIPC, Mrs. Uju Aisha Baba yesterday in Abuja inaugurated inter-ministerial committee on Doing Business & Competitiveness and Investors After–Care to reposition the Commission to deliver more efficiently on its mandates.
Executive Secretary, who was represented at the inauguration ceremony by the Director of National Competitiveness and Policy Advocacy, NIPC Mr. James Ebuetse, said that the technical committee on Investors Care is a problem solving committee constituted to appraise complaints from investors operating in the Nigeria’s business environment.
Baba said that NIPC has reviewed its operational model as one of the strategies to remodelling and repositioning the commission in line with the present directive of the Federal Government.
As members of the strategic business committee, she said that their output will be judged by the impact they will continue to make in ensuring that existing investment are deepened, fresh capitals are injected into the economy and ratings of the economy receives boost.
“Our country, with the abundance of potentials it possesses should be attracting more fresh capital than what it presently does” she said.
She said, “According to the United Nations Conference on Trade and Development, UNCTAD the economy attracts an annual average of USS6 billion Foreign Direct Investment, FDI whereas the economic agenda demands an annual minimum private inflow of about USS13 billion.”
“As you are all aware, the Inter-Ministerial Committees were constituted by the former President and inaugurated by the Secretary to the Government of the Federation in March 2012.
“The main objectives were to review the causes for the unimpressive ratings of the economy by various global rating agencies which had affected investors’ confidence and consequently the net flow of direct capital in the economy” she stated.
Director of Investment Facilitator & Incentive Administration, who is the Committee Chairman on Investors After Care, NIPC and Chairmen, Chairman, Doing Business and Competitiveness, Mr. Olayinka Olanipekun resolved to work tirelessly in ensuring that their various mandates are released within shortest possible time.
Both the Directors said that they will work through the committee to ensure that the current inflow of Foreign Direct Investment, FDI is increased.