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Bad reporting, bane of foreign investment in Nigeria — NIPC

By Ikechukwu Nnochiri

ABUJA—The Nigeria Investment Promotion Commission (NIPC) has underscored bad reportage on Nigeria , as a key factor, that scares potential foreign investors away from choosing Nigeria as their investment base in Africa.

The Director Investors Relations, NIPC, Hajia Ladi Katagun, who stated this while briefing newsmen about the forthcoming international conference tagged, ‘Investing in Sub-Saharan Africa-“Attracting investments and building new partnership to drive into sub-Saharan Africa” scheduled to hold in Abuja on December 8 and 9, 2009, decried the low level of investment attraction the country is currently experiencing, despite her abundant natural and human resources.

Hajia Katagun further disclosed that Nigeria was ranked 19th in an investment assessment report that was recently released by the United Nations Conference on Trade and Development (UNCTAD), while insisting that the country would have done better if not for the  negative perception most foreign investors already have about the country, which she blamed on bad reportage.

In a similar vein, one of the organisers of the event, Mr. Ogbonna Ukuku, called for more public-private initiatives aimed at attracting investments into the country, as well as in building new partnership to drive growth into sub-Saharan Africa .


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