For Nigeria to maintain her leadership role in the African continent, the need for a well-articulated Nigeria Investment Policy cannot be over-emphasised.
The Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Dr.Evelyn Ngigi, stated this known at the opening of a two day stakeholders’ engagement on the First Nigeria Investment Policy, in Lagos.
Dr Ngigi said the aim of the event is to develop investment policy that will promote economic diversification and sustainable development in Nigeria.
She noted that the main focus of the national investment policy for Nigeria, is to create an atmosphere which will attract RIBS investment which means Responsible, Inclusive, Balanced and Sustainable Investment, whether foreign or domestic into every sector of the economy.
Dr Ngigi urged the participants to see the engagement as an opportunity to contribute their quota to the development of the nation and the creation of a better tomorrow for future generations of Nigeria.
Represented by, Mrs, Olukemi Arodus, Director Investment Promotion Department, of the Ministry, Dr Ngige also advised the participants to work together to implement this policy.
Shedding more light on the document, Dr . Ngigi pointed out that this would help to achieve the much desired economic diversification and building a nation where the future generations of Nigerians can thrive.
She said that it is a fact that African countries that have clearly outlined investment policies were finding it easy to attract more foreign direct investment. Mrs. Ngigi states that this is one of the reasons the development of an investment policy for Nigeria has been part of the heartbeat of the Industry, Trade and Investment sector at the federal level for the last few years.
Director Legal Service Department of Nigerian Investment Promotion Commission, Mrs Patience Okala, said the development of this Investment policy comes at an auspicious time when the nation is focusing on economic diversification and when State Parties of the African Continental Free Trade Area, AFCFTA, are actively negotiating the AFCFTA Investment Protocol.
According to Mrs Okala, this is anticipated to be a reform-oriented International Investment Agreement to govern intra- African investments.
Similar stakeholders’ engagement has been held in Kano and will also be held in other part of the country.
Story By Ebere Obike- Business Correspondent of Radio Nigeria