19 December 2007
Abuja — The Nigerian Investment Promotion Commission (NIPC), investment drive attracts about N232 billion (2 billion dollars) annually into the economy.
The Executive Secretary of NIPC, Alhaji Mustapha Bello said this Monday in Abuja during a visit by a delegation of Korean businessmen.
He said that the money comes under the Foreign Direct Investment fund.
"Since the reform started, there has been a sustained interest by foreign investors in the country," he said.
He noted that globally, there had been a concession that Africa should be the focal point of development.
"And Nigeria provides that large market for investors and has the potential for growth to become one of the 20 largest economies come 2020," he said.
The leader of the delegation, Mr. Jon Park said Korean businessmen were in the country to seek partnership in infrastructure development.
He said that the group was particularly interested in the power, transportation, housing and water development sectors.
"Infrastructure business is the foundation of the growth of any economy. And we have been in the business for over 40 years," he said.
Park said the team would return in January to identify local partners to work with and create jobs for Nigerians.
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