UNIDO opens investment promotion office in Nigeria

The United Nations International Development Organisation (UNIDO) has unveiled its Investment and Technology Promotion office in Nigeria.

The ITPO, located in Lagos as a result of the increasing spate of commercial activities, is expected to offer full package of up to date information on screened and validated investment opportunities to local and foreign investors.

In addition, the facility is also expected serve as a guide to investors at each stage of the investment cycle, from project identification through appraisal and implementation.

Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah who spoke during the commissioning of the facility in Abuja on Tuesday, described the establishment of the office as timely, adding that it would accelerate the national industrial revolution plan of the federal government.

He said the setting up of the ITPO in Nigeria would support the policies and the initiatives of the ministry in diversifying the economy away from oil.

Enelamah explained that the establishment of the ITPO in Nigeriawas timely as the office would accelerate the nation’s industrial revolution drive and support the diversification of the economy.

“Nigeria has all it takes in terms of large market, natural resources, agricultural endowment and skilled labour to drive the activities of the office within and outside Nigeria”, he said.

According to him, the ministry would ensure the success of the ITPO adding that a committee would be set up to validate its operation within the next twelve months.

The Head, UNIDO ITPO, Dr Hashim Hussein, stated that with the initiative, its officials from other countries would be able to promote portfolios of screened investment and technology opportunities.