Investor Presentaiton

growth for 2007 and 2008 is set to average 7.0% per annum, much better than the performance of the previous two decades when GDP growth averaged 3.0% per annum. Significantly, this rate of growth has been much higher than our population growth rate. This has resulted in a sharp increase in GDP per capita after a prolonged period of stagnation, from about US$400 at the turn of the century to well over US$1000 by the end of 2007. The innovation of Business Breakfast sessions of Mr. President with investors introduced by NIPC and also being a key member and secretariat of the Honorary International Investors Council (HIIC) in Nigeria, the Commission has taken advantage of the opportunity it offers to push through reforms, advocate investment friendly policies and more importantly, ensure hitch-free clarity on the various incentive packages available for investors. The achievements recorded in 2006-2008 could be assessed highly satisfactory given the paucity of funds for program implementation in the Commission. The outlook for 2010 looks brighter, more so that the economic programmes of the present Administration and the implementation of the Seven Point Agenda of President Umaru Musa Yar, Adua have begun to manifest positive dividends in the critical areas of the investment climate and substantial reduction in the cost of doing business. Also critical to the anticipated improvement in the quantum of FDI, Nigeria expects to rake in, has to do with current efforts to set up Investment Promotion Agencies and One-Stop Shops by various States as well as the restoration of Investment Promotion at the centre-stage of National development Plans. We wish to place on record the support from the Federal Government and also thank all agencies in the public and private sectors that partnered with the Commission or with whom we have interacted during the period under review. While acknowledging the efforts of the Management of the Commission for the successes and and the excellent work, I recommend this report with confidence to readers. Chairman Governing Council, NIPC 3

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