…Says Nigeria leads Africa’s investment inflows with $23.7bn in 3yrs
As a result of the massive network created by the Ministry of Trade and Investment in the past years, Nigeria has achieved an impressive record of N8 trillion in Foreign Direct Investment (FDI) in major sectors such as aviation, power, communication, transport, among others.
This was disclosed by the Minister of State for Trade and Investment, Dr. Samuel Ortom, Tuesday in Abuja.
Ortom also stated that Nigeria, for the past three years, has consistently maintained its lead in investment inflows in Africa with over $23.7 billion put together.
Speaking when he hosted Benue State indigenes resident in Abuja to intimate them of his governorship ambition, he explained that the sustained lead in the inflows by the country is from 2011 when he assumed office in the ministry with his colleague, Dr. Olusegun Aganga, to 2013.
Also, he revealed that Nigeria today has attained 115th position in the global ranking in the level of competitiveness in doing businesses and 131th position in ease of business transactions globally.
Ortom added that as the supervising Minister of Aviation, he had, among several achievements, retained the CAT-1 status issued by the USA Federal Aviation Administration, which allows Nigerian airlines direct route to the US and other countries.
He said the ministry has launched the National Enterprise Development (NED) with joint efforts with SMEDAN, Industrial Training Fund (ITF) and the Bank of I ndustry (BoI) to create an estimated five million jobs for the teeming unemployed Nigerians by end of 2015.
This, he said, has for the first time developed strategy for domestic, regional and international trade, the diaspora export programme and established six trans-national boarder markets.
Other major achievement s at the ministry, according to him, include investment climate reforms that include tax holiday for pioneer status industries, research and development plans, relaxation of policies on company registration and the amended status of the Corporate Affairs Commission (CAC) to gaurantee efficiency to allow for 24 hours company registration with the facilitation for the setting up of a one stop Investment Center by the Nigerian Investment Promotion Council (NIPC). This is expected to offer investors all services needed to start and operate a company in Nigeria.
Source : SunOnline