 Softening the ground for investors
As back up for Nigeria's ambitious entry into the global competition and with the expectation of a busy time for the players in the deregulated field of Nigerian economy, the government has created the Nigerian Investment Promotion Council (NIPC). It is a one-stop agency for foreign investors. It promises 14 days of registration for foreign investors aside from other services like collecting, collating, analyzing and disseminating information about investment opportunities and sources of investment capital and advising on request, the availability, choice or suitability of partners in joint ventures projects, identifying specific projects and inviting investors for participation in those projects.
The Council's efforts have started yielding fruits already. So far, it has granted 103 business permits to new companies and 118 expatriate quota (slots) to 47 companies covering agro-allied, chemical and petrol-chemical and engineering. Of the 103 permits, two are from Africa, America/Canada 12 , Asia 39 and Europe 50 with the potential of generating about 7,063 employment opportunities.
What are the guarantees on offer? "Transferability of funds (unconditional) no expropriation - no enterprise shall be nationalized or expropriated by any government and no persons who owns, whether wholly or in part, the capital of an enterprise shall be compelled by law to surrender his interest in the capital to any person," states the NIPC handbook.
And when the investors arrive, the warmth and the hospitality of the Nigerian people will be on hand to make the country a home to them.
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The country's most highbrow hotel, Nicon Hilton located at the heart of the capital city of Abuja provides first class hotel services equaled by international hotels found only outside the continent.
What is more? It is a brand new day in Nigeria. The country has certainly set sail on the high sea of prosperity through its well-focused deregulation policy, more so at a time, the international community is showing more than passing interest in the survival of Nigerian economy. Immediately after the presidential election, the IMF boss Mr. Michael Camdessus visited Nigeria to assess the situation and promised a favorable disposition to the Nigerian issue. But that wont come at zero cost. Nigeria must show commitment to restructuring.
What Nigeria needs now is certainly not rhetoric, but a reliable and sustained economy policy that will stabilize the macro-economy and improve the standard of living of Nigerians. That is what is expected of the new president as Nigeria cannot afford to toil with failure anymore. |
NIGERIA
Nigeria
