BAWA; SEN. NENADI USMAN; SEN. PAULKER EMMANUEL; GOV. EMMANUEL UDUAGHAN OF
DELTA AND CHAIRMAN, HOUSE COMMITTEE ON COMMERCE, REP. SYLVESTER
OGBAGA, AT THE 15TH MEETING OF THE HONORARY INTERNATIONAL INVESTORS
COUNCIL IN LONDON ON FRIDAY
The Honorary International Investor’s Council (HIIC) on Friday urged the Federal Government to set up an eight-man team to develop a concrete working plan to develop the Nigerian financing value chain.
Baroness Lynda Chalker, the coordinator of the council, made the call at a news briefing in London at the end of the 15th meeting of the HIIC.
The Europe correspondent of the News Agency of Nigeria (NAN) reports that the session was attended by a high-powered delegation, led by President Goodluck Jonathan.
Chalker said that the setting up of such team had become necessary because of the need for a long-term affordable finance for businesses investing in the country.
She said such a policy “is essential to promoting competitiveness in Nigeria with a holistic approach covering the entire value chain”.
She said that members of the council had noted the need for a stable macro- economic environment in Nigeria, adding that without it, investments would not be attracted into the country.
According to her, the Council agreed that Nigeria has a competitive advantage with the recently formulated automobile policy, and that it should be implemented as contained in the framework.
“The Council agreed to continue its advisory role to the CBNT structure so we can ensure the implementation of the anti-corruption policy,’’ Chalker said while reading a communiqué issued at the end of the meeting.
“Council agreed that social safety nets are important to protect the most vulnerable in the country and agreed that modules used in Latin America should be the benchmark for Nigeria possibility to replicate.’’
She also expressed the concern of the council on the need to tackle oil theft, and control the proliferation of small weapons in the country.
Chalker urged agencies that had yet to key into the one-stop-shop initiative of government to do so “a matter of urgency”.
She said that the move was necessary to promote investment in the country.
The Ministers of Trade and Investment and Information, as well as the Executive Secretary of the Nigerian Investment Promotion Council also briefed newsman on issues discussed at the council.
The biannual council, established in 2004, had been reviewing Nigeria’s existing investment policies in the British capital.
The two-day meeting also featured a review of Nigeria’s existing investment policies by the Organisation for Economic Cooperation and Development.
HIIC, an organisation of prominent investors from around the world, advises governments on matters pertaining to their countries’ economic development.
