• From left: Chief Executive Officer, Nigerian Investment Promotion Commission, Alhaji Mustafa Bello; Minister of Trade and Investment Dr. Olusegun Aganga and Secretary to the Government of the Federation Anyim Pius Anyim at the inauguration of committ
Secretary to the Government of the Federation (SGF)Anyim Pius Ayim yesterday inaugurated two committees to facilitate trade and investment.
The committees are: Doing Business and Report Monitoring Review Committee and Investor Care Committee.
Members of the committees include: Minister of Trade and Investment Olusegun Aganga, Minister of Power Prof. Barth Nnaji and all Heads of Parastatals under the Ministry of Trade and Investment. Both committees are chaired by Aganga.
Anyim said the committees were inaugurated because the recently released 2011 Global Competiveness Index of the World Economic Forum ranked Nigeria as 127th of 129 countries.
The SGF said: “Nigeria ranked poorly in all the 12 indicators known as pillars of competitiveness, except with respect to its marked size and business sophistication. Nigeria was ranked 137th of the 128 countries that were ranked in the 2011 Doing Business Report of the World.
“In its 2010 World Investment Report, the United Nations Commission on Trade and Development UNCTAD also ranked Nigeria as 93rd out of 209 countries in inward FDI performance which is evident in the downward trend in inward FDI inflow from US$6, 814 million in 2008 to US$5,851million in 2009.
“The cardinal objective of government in reconstituting these committees is to achieve a high level of competitiveness in doing business within and outside Nigeria as part of an effort towards the realisation of vision 20:2020, which is to make Nigeria one of the top twenty players in the world economy.”
He said the mandate of the two committees are: to monitor, review and recommend improvement on existing policies and legislation governing the act of doing business in Nigeria. The committee on investors care is among others to receive and appraise complaints on business, investment environment from investors.
“The membership of the two committees is drawn from ministries, extra-ministerial departments and agencies which have critical roles to play in meeting the objectives for which these committees are reconstituted to achieve,” he said.
Aganga said the committees goal is to make the country hub for investors.
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