Nigeria Finance Week, 2021: NIPC Hosts Session as States Pitch Opportunities to Investors

By March 4, 2021 NIPC News, NEWS

Nigerian Investment Promotion Commission (NIPC) hosted a session at the ongoing Nigeria Finance Week, to showcase investment opportunities across States in the country, on 03 March 2021.

Speaking about opportunities in Lagos, Solape Hammond, Special Adviser on SDGs and Investments to the Governor of Lagos State described Lagos as the industrial hub of the nation; hosting more than 70% of businesses and recipient of an annual average of over 80% of foreign direct investments inflow into the country. She maintained that the State is the powerhouse of digital innovation.

On his part, Jide Ikeako, MD/CEO Anambra State Investment Promotion and Protection Agency (ASIPPA) described Anambra as the gateway to the southeast. He stated that despite their relatively smaller land size, they account for about 35% of all trade volume in the country. “Anambra is a key logistics hub with its airport and seaport. It is an oil and gas State with over 4tcf (4 trillion cubic feet of gas). We are a private sector-focused State; we can always sit around the table and get a deal done”, he said.

Following his counterparts, Hamza Sarki Bello, Head of the Niger State Investment Promotion Agency stated that Niger is the first in the production of rice and melon. He also stated that Niger is amongst the largest producers of Cassava and Yam. “We are the first in the production of shea nut; we have been able to attract an investor who establishing a factory around Suleja that would be the largest processor of shea nut in Africa”, he said.

In the same vein, Mr. Kelvin Uwaibi, Head of the Edo State Investment Promotion Office described Edo as the heartbeat of Nigeria. “Edo is a logistics hub. We are number one in Oil palm production.” He stated that in terms of tourism and culture, Edo people are hospitable to visitors. “At Edo State Investment Promotion Office, we can ensure that you of doing business in Edo without hassles and with the right [fiscal] incentive to support,” he said.

On her part, Umma Yusuf Aboki, Head of Kaduna Investment Promotion Agency invited investors to Kaduna, quoting the World Bank which ranked the State as the easiest State in the Federation to do business. In terms of investment opportunities, Umma stated that “Kaduna has huge deposits of gold of high quality, a large landmass and arable land for integrated farming. Kaduna is the number one producer of 5 industrial crops: maize, tomatoes, ginger, sorghum and soybeans in the country”, she said.

Chibuzor Okafor, GM/CEO Enugu State Investment Development Authority (ESIDA) said the State is historically known for its coal deposits, and it also has a large deposit of oil and gas. “We are rated number 4 in the country in terms of real estate development, the State has 2 free trade zones as well as an international airport to the southeast to support businesses; Enugu prides itself as the gateway to the south-east and south-south of the country. Also, the State has competitiveness in agriculture; “it is home to the largest landmass in the southeast”, he said.

Earlier in the session, Executive Secretary/CEO, NIPC, Ms Yewande Sadiku invited investors to consider Nigeria as their entry port into Africa noting that Nigeria remains an important part of Africa’s development strategy.

The session was moderated by Mr Emeka Offor, Director, Department of Strategic Communications, NIPC.