Umar: Lax Resource Mobilisation Hampering Inclusive Growth

James Emejo in Abuja

The Executive Secretary/Chief Executive, Nigerian Investment Promotion Commission (NIPC), Mrs. Saratu Umar, has said the country’s level of resource mobilistion was insufficient to deliver inclusive growth.
She said investment remained critical to promoting economic growth, creating jobs, generating wealth for Nigerians as well as facilitating development.

According to her, investment promotion remained key to attracting Foreign Direct Investment (FDI) and mobilising Local Direct Investment (LDI) to fully harness the potential of the Nigerian economy as well as set it on the path of sustainable progression towards becoming a prosperous nation.

Speaking at a stakeholder engagement with Ministries, Departments, and Agencies of government (MDAs) in Abuja, Umar, stressed that Nigeria remained a resource-rich country with potential that is unrivaled by any other country in the world.

 The NIPC boss, however, pointed out that this potential had not been fully harnessed, “hence the situation we find ourselves today”.

She said if the country is to assert its position as a dominant African investment destination, “we must enhance our investment drive”.

She argued that the global FDI market had become competitive and versatile where the investment promotion thrust of successful jurisdictions that are attracting the largest global market share of FDI inflows are driven by effective, efficient, and performance-driven Investment Promotion Agencies (IPAs) over the last decade.