Investment Opportunity: Nigeria Seals Promotion Deal With Singapore, Morocco

The Nigerian Government has sealed an investment promotion deal with Singapore and Morocco.

Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Nasir Sani-Gwarzo announced this on Monday at the virtual/physical technical session of officials of the 12th meeting of the National Council on Industry, Trade and Investment in Abuja.

“The Investment Protection Agreement with Singapore and Morocco has been signed by the Federal Government and efforts are being made to collaborate with the Ministry of Justice for the production of the instrument of ratification for the signature of Mr President,” Sani-Gwarzo.

According to him, the ministry is working to develop a coordinated approach to investment promotion within 25 states and the Federal Capital Territory.

Speaking at the meeting which was themed “Revitalisation of the industry, trade and investment sector in Nigeria in the post-COVID-19 pandemic era,” he also disclosed that the Federal Government is in talks with the World Bank to develop a strategic plan for trade and investment in Nigeria.

Nigeria Seals Investment Promotion Deal With Singapore, Morocco

“I wish to inform you that the ministry is proposing to develop a sector strategic plan for 2020-2030 in collaboration with the World Bank. The plan would serve as a roadmap and a guide for a sustainable revitalisation of the sector.”

Adding that “the ministry is vigorously embarking on the review of the industrial policy of Nigeria, Nigerian Industrial Revolution Plan and Trade Policy, while investment policy formulation is in progress with consultations with the critical stakeholders.”

He noted that when the plans have been finalised and fully operational, it would facilitate the reinvigoration of the sector for growth and development.