Leadership (Abuja)
Justus Nduwugwe
28 July 2008
The Executive Secretary and Chief Executive Officer of Nigerian Investment Promotion Commission (NIPC), Engr. Mustafa Bello, has reiterated the commitment of the commission towards creating an enabling and conducive environment, which will satisfy the yearnings of investors in the Nigerian economy.
Bello, gave the assurance last Thursday, at an investment policy review of Nigeria, organised by the United Nations Conference on Trade and Development (UNCTAD), for stakeholders in Abuja.
He observed while commending the investment review report presented by UNCTAD, that the creation of a ministry of investment as contained in the report, is a good idea which is modeled to the Egyptian ministry of investment, which can only work under a stable administration as it is the case with Egypt.
According to him, the merging of Bureau of Public Enterprises (BPE) and NIPC, as indicated in the report, will not be necessary because the agencies play unique roles in attracting foreign direct investment (FDI). He also said that NIPC's role as both a regulator and facilitator of investors, has over the years given a sharp rise in corporate profitability and that its effectiveness is making Nigeria a competitive location for FDI.
Bello further said that the creation of a ministry of investment, will lead to a mega ministry that will compound the problem of investment in terms of funding of the various agencies to carryout their obligations.
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