Minister of Industry, Trade and Investment, Dr. Olusegun Aganga said yesterday in Abuja that the One-Stop-Investment Centre, OSIC would enhance the competitiveness of Nigeria as investment destination for investors. Commissioning the centre, located within the Nigerian Investment Promotion Commission, NIPC headquarters, Aganga said “this facility becomes ready-made incentive for investors coming to Nigeria”. He pointed out that establishment of the centre has elicit continuous commendation from global partners, clients and stakeholders for the federal government’s efforts in creating favourable investment climate in the country. Aganga, who was represented by the permanent secretary in Federal Ministry of Industry, Trade and Investment, Alhaji Dauda Shuaib Kigbu, noted that OSIC “had achieved all the desired objectives of its establishment and had vindicated the vision of Honourary International Investors Council which recommended its formation in Nigeria”. The minister therefore called for the high competitiveness ranking of Nigeria by the World Bank and other international rating bodies in view of many effective initiatives like OSIC in the country. He listed the achievements of the centre to include the streamlining of all procedures of business incorporation, registration and facilitation; and reducing the cost of doing business through elimination of discretion, ambiguity, bureaucracy and unnecessary delays in documentation process. Aganga added that OSIC has also helped in inculcating the culture of transparency and clarity in dealing with investors and all government agencies, and creating the desired synergy and seamless operations among government agencies, which promote bridge building, partnership and teamwork. These achievements, he informed has made the United Nations Conference on Trade and Development, UNCTAD to recommend the establishment of similar centre by many other developing countries. He also pointed out that OSIC has started massive partnership campaign and capacity-building programmes for all interested states with a view to helping them create similar platforms for the benefit of investors. In an address, chairman of NIPC Governing Board, Alhaji Isa Bio Ibrahim said “the centre is a mechanism that brings all relevant investment facilitation agencies under one location to provide a well-coordinated, properly streamlined and transparent service to investors”. He informed: “Presently, there are 26 agencies located at the centre providing entry point services to investors”, adding “the centre is gradually being upgraded into a virtual facility to provide services to its clients real time wherever they may be in the world”. Ibrahim said similar facility would soon be establish in Lagos, Port Harcourt and Kano while NIPC has started the capacity building of states in order to expand businesses in the country. The chairman added that the commission has been repositioned to be more pro-active in responding to the dynamics of global environment and focus on investment climate reforms and investor support. Earlier, the Executive Secretary of NIPC, Engr Mustafa Bello said the establishment of OSIC has helped in shoring up the country’s image as a preferred investment destination in Africa and the emerging markets. Bello informed that the centre which started full operations with 13 government agencies, including NIPC from inception in 2006 up to 2008, now boast of 26 representing their respective ministries, agencies and departments, MDAs effectively. He also stated that the NIPC was established to promote, encourage and coordinate investments in the nation’s economy.
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