By FAVOUR NNABUGWU
The Nigerian Investment Promotion Commission (NIPC) should be given more prominence by the Federal Government, FG, to facilitate realization  of if its objectives and mandate  said  Minister of National Planning, Dr. Shamusedeen Usman.

Usman stated this while receiving a copy of document on ‘Specific Sector Incentives Policy For Nigeria’,  put together by NIPC for presentation at the forthcoming National Stakeholders forum in Abuja, next month.

Receiving the document from NIPC’s Executive Secretary, Engr. Mustafa Bello, Usman said, “What you have done is critical to the development of the economy, especially the transformation agenda of the present government that we have just presented the final document to the Economic Management Team (EMT). This is one of the key things that will make us to realize vision 20-2020. It is a very good initiative.”

“Investment promotion and facilitation is key to economic development and job creation. It is quite appropriate if we have policies that will advance the economy, especially in the promotion and facilitation of investment into the economy,” he added.

The Minister promised to work closely with the Commission in the area of capacity building and training for staff in order to enhance their productivity.

Earlier, the Executive Secretary of NIPC, Engr. Mustafa Bello, disclosed that the drafting of the document was a presidential directive given in March 2007 and in line with NIPC’s Act 16 of 1995 which empowers the Commission to encourage, promote and coordinate investment as well as advocate for policies that will enhance a friendly investment in Nigeria.

He stated that the objective of the document is to institute a stable and conducive investment climate, simplify procedures and bring down transaction costs.