FG Woos Foreign, Local Investors With Incentives

Towards boosting the economy, the federal government has enunciated various policy incentives to attract capital investments, both local and international.who made this known while speaking at the First Bank 125th anniversary lecture in Lagos yesterday, said the federal government recognised the need to build fiscal buffers and incentives that would attract both local and foreign investments into the country.

“We must do more than we are doing now in terms of enabling the business environment and improving security, both physical security and security of capital, so that when investors choose to come to Nigeria, they are comfortable enough that the investment will grow and flourish, so that they can bring their monies in and take them out. So we must learn from the mistakes we made in the past.”

“Government on its own part needs to work with the financial system to provide that required covering for more Nigerians. We also want to look at how we can tax technology; there are so many transactions that happen now, including in our country that we are not getting any benefit from.” President Akufo-Addo, who was represented by Prof. George Gyan-Baffour, Ghana’s minister of budget and planning, said that African countries should leverage its resources and add value to its raw materials to enhance global interdependence.

On her part, country manager, International Financial Corporation , Mrs Eme Essien, stressed the need to put more capital in the right direction and to also ensure an alignment of policies.

Improve the country power supply first of because that's the major set back in that regard. Some parts of Enugu like (9th mile) enjoys only 7hrs of interrupted power supply daily and that's all. This demoralize even the local establishments in that area not to talk of foreigners

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