May 17, 2018

FG opens online portal for investors

FG opens online portal for investors

Minister of Industry, Trade and Investment, Okechukwu Enelamah

The Federal Government has launched an up-to-date online portal, `iGuide Nigeria’, containing necessary information and relevant data for willing investors.

The Minister of Trade and Investment, Mr Okechukwu Enelamah, at the launch in Abuja on Thursday, said the portal would greatly improve the Ease of Doing Business in the country.

Okechukwu Enelamah, Minister of Industry, Trade and Investment

The Permanent Secretary of the Ministry, Mr Edet Akpan, represented the minister at the event.

“The ranking of Ease of Doing Business for now is not good enough for Nigeria; we are working hard to ensure that in the next ranking the country will be among the top 10,’’ Enelamah said.

The latest World Bank rating says Nigeria ranks 145 out of 190 countries listed in the Ease of Doing Business index for 2018.

The report indicated that Nigeria had moved up by 24 points from 169th position on the 2017 ranking and also 170th position on the 2016 ranking to 145 in the World Bank 2018 Report.

Ms Yewande Sadiku, the Executive Secretary, Nigerian Investment Promotion Commission (NIPC), said the portal would help investors get access to the basic information needed to make better informed decisions on Nigeria as a preferred investment destination.

“ iGuide is an easy to use online platform providing investors with up-to-date and pertinent information on the processes, procedures and basic costs of doing business in Nigeria.

“It provides information on starting business, labour, production factors, land, taxes, investor rights, growth sectors and opportunities,’’ she said.

According to her, the purpose of the portal is put together with the support of United Nations Economic Commission for Africa (UNECA) and United Nations Conference on Trade and Development (UNCTAD).

Sadiku said the portal would be updated quarterly and that it had language functionality, meaning that the platform has different languages.

“It is a marketing tool, as information on Nigeria’s investment processes and procedures are on one platform for easy access,’’ she said.

Mr Emmanuel Chinyama, Economic Commission for Africa Officer, said Nigeria was among the first four countries to improve on iGuide.

Chinyama said the portal was the best way to fast track process of doing business which contained local data, relevant rules and contacts.

He said that the portal would also be used to share experiences, saying “iGuide is key to address challenges of doing business’’.

Chinyama said the system would strengthen lots of institutions and agencies in the country. (NAN)