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Investor Presentaiton

5.7 INVESTMENT FACILITATION ACTIVITIES 5.7.1 NIPC Business Registration/Permit Fig.5.7.1 shows NIPC Business Registration/Permit by Sector & Employment Generation 2006-2008. In 2006 71 BP were issued, while 211 BP were issued in 2007 representing over 185% increment. In 2008 the Commission issued 125 Business Permits representing 68.8% decline. This is attributable to the ripple effect of the 'wait and see attitude' of investors, due to the general election that took place in the country in 2007. Table 5.7.1.1: Regional and Sectoral Business Permit Registration 2008 Sector Region Asia Europe Africa North South Far Total Total Number of Projected America America East Companies employme Agriculture 1 1 Services 8 16 4 3 3 34 22,704 Engineering 6 8 2 1 5 22 3,264 Manufacturing 5 12 4 1 24 9,385 Commerce 13 3 1 21 1,461 Tourism/Hospitality 1 1 2 230 Solid Minerals 5 1 2 1 9 345 Oil & Gas 1 5 - 6 12 636 Total 40 45 12 19 125 38,025 Europe remains the most active source of fresh capitals for Greenfield investments in the economy. In 2008 36% of the total registered companies by NIPC were affiliated to Europe. Asia also sustained their interest in the economy by investing in over 40 Greenfield investments which represented about 32%. The 35% of the 36% share by European affiliated companies registered in 2008 are operating in the service sector of the economy. In total, the service sector accounted for 27% of total Greenfield investments in 2008 followed by manufacturing which accounted for about 19% while engineering and commerce accounted for about 17% and 16% respectively. No. of Investment Employment Generated 2006 2007 2008 2006 2007 2008 Table 5.7.1.1: NIPC Sectoral Grant of Business Permit 2006-2008 S/N Investment Sector 60 60
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