The Nigeria Investment Promotion Commission says the nation’s net on investment return hovers between 35 per cent and 45 per cent and is among the best globally.
The Executive Secretary of the commission, Saratu Umar, made the assertion in an interview with the News Agency of Nigeria on Wednesday in Abuja.
According to Umar, the profile of Nigeria’s net returns on investments remains among the best globally.
She said that the Federal Government’s investment incentives to attract foreign investors had been promoted effectively by the commission.
She said: “Everything in the country’s business environment has so far worked together for the growth of the economy.
“There is no time or moment in the history of the country that we recorded the quantum of inflow of foreign investment such as now.
“The secret is simply that we are doing well with the new investment guidelines imbedded in the country’s Transformation Agenda policy.”
According to her, the vibrancy in the sector has led to 7.5 per cent growth of the economy in the first quarter of 2014 as against 7.2 per cent in 2013.
Umar said that a statutory investment incentive with about three years of tax holiday was working the magic, adding: “Repatriation of profits is still pegged at 100 per cent.
“You see why Nigeria is an investment destination?
“We encourage foreign companies to repatriate their profits to their homelands or to such places where further investments are required.
“What am I trying to say here: we simply made flexible our laws in order to encourage the creation of wealth, jobs for our teeming youth population and diversification of the economy.
“So, Nigeria is the best investment destination there is now.
“If you wait for everything to become perfect before investing, it may turnout that you will be left with nothing.”
The Executive Secretary said that NIPC would continue to act as the stimulant of the country’s economy, stressing that the commission will continue to encourage both local and foreign investments.
Umar added: “The NIPC is a stop shop for the registration of firms.
“It evaluates, monitors as well as serves as a connecting point between foreign and local investors.
“We also recommend business areas and opportunities for prospective investors.”
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