Investor Presentaiton
6.12 PROGRAMS OF THE NIGERIAN INVESTMENT PROMOTION
COMMISSION FOR 2010-2013
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INTRODUCTION
FDI flow to Nigeria is put at US$20 Billion (2008 UNCTAD) which was an
improvement over 2007 figure of US$12 billion which are largely in Oil
and Gas sector, however non-Oil sector attracted up to US$7 billion
during the reporting period. With Government's commitment to the
realization of the Seven Point Agenda and Vision 20-2020, Nigeria has to
make a quantum leap in the area of FDI inflow if the Strategic Plan in
view is to be realized.
The current global economic crisis further provides Nigeria with an
opportunity to offer itself as good alternative destination for FDI given
our profile of being the most profitable, liberalized and safest economy in
Africa, as confirmed by former Merrill Lynch, one of the world's leading
financial and advisory company, to the effect that Nigeria is the least risky
economy in the World.
Investment promotion and facilitation are critical to economic growth of
any nation because of their contributions in the creation of an enabling
environment for FDI to flow and be sustained. It has been established that
FDI contributes to GDP and GNP, helps in employment generation and
human capital development, promotes economic stability, import
substitution industrialization, transfer of technology, general growth and
development, and improves the credit worthiness of countries with
friendly investment climates. These conform with the goals and objectives
of the Seven point Agenda and the vision 20:20:20.
PROGRAMS FOR 2010- 2013 AND THE IMPLEMENTATION
STRATEGY
Based on Government's desire to attain double digit growth
rate in GDP as a prerequisite for achieving its long term
development plans, Nigeria requires attracting a minimum of USD
7.5billion especially in non-oil FDI annually. It is against this
background that Investment Promotion, facilitation and private
sector development should take centre-stage in current efforts to
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