Okechukwu Nnodim, AbujaTen states of the federation lack functional investment promotion agencies, the Nigerian Investment Promotion Commission said on Thursday. Sadiku noted that six states, representing 17 per cent, had their IPAs’ functions situated within a ministry, while four states, representing 11 per cent, just had theirs in government. The NIPC boss urged state governments to set up functional investment promotion agencies in order to attract both local and Foreign Direct Investments to their domains. This, Sadiku said, would afford the NIPC a scientific basis that could be used to enhance its working relationship with states and provide the necessary support to subnational investment promotion mechanisms. The NIPC survey further showed sectors that had the highest investment attraction in states.

Source: Punch August 07, 2020 03:33 UTC