The Federal Government has been advised to explore incentives option to attract more investors into the country.
This was the position of experts who participated in a Webinar organised by Nigerian Global Business Forum in collaboration with the Nigerian British Forum.
The Webinar themed: “Invest Nigeria: Opportunities, Guidelines and Incentives” explored different options of protecting the economy during and post COVID-19.
Speaking during the virtual meeting, Minister of Mines and Steel, Arch. Olamilekan Adegbite gave hint about government plans to improve the mining sector to make it attractive for investment.
According to Adegbite, the federal government is deploying resources to revive the mining sector which had suffered neglect by previous administrations.
He noted that the administration target was to increase the sector contribution to Gross Domestic Product, GDP by three percent.
He disclosed that already, government is in talks with the United Kingdom and other advanced countries to harness investment opportunities in the sector.
“”Nigeria is endowed with 44 minerals resources, including:”Coal, iron ore, gold, bitumen and lime stone, amongst others, which if well managed,will bring rapid development to the country.
” The mining sector boasts of opportunities that would bring multiple jobs and increase government revenues earnings. We are seriously targeting the sector to contribute as much as 5.6% to the national GDP.”
Also a participant at the Webinar, Chief Executive Officer of Nigeria Export Promotion Council (NEPC), Olusegun Awolowo, wants Nigeria to simplify access to its visa so as to facilitate trade service.
He said, “NEPC has devised the Nigeria Diaspora export programme (NDEX) to increase non- oil exports.NDEX has three components which include:Nigeria heritage city, Nigeria cuisine beyond border and Diaspora export of non-oil products.
” Several Nigeria processional services are patterned after the U.K. This means that there are similarities for the two countries to engage in mutual recognition agreement for certain professional service.
The Chief Executive Officer/ Executive Secretary of Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku, reiterated the objectives of the commission to promote Nigeria as an extra five investment destination.
She added that NIPC is pulling all stops to promoting information on investment opportunities and capital source.
The moderator of the session and publisher of FIN Magazine, Mrs Yinka Fayomi, thanked federal government for making business environment attractive to investors by providing opportunities and incentives.
She added however government can do better to attract investment into the country.