THE Federal Government will soon review Nigeria’s Bilateral International Treaties to attract responsible, inclusive, balanced and sustainable investments.
The Director, Legal Department, Nigeria Investment Promotion Commission, Patience Okala, disclosed this on Thursday during a Webinar held by the management team with journalists.
The management team was led by the Executive Secretary, NIPC, Yewande Sadiku.
She said the NIPC’s efforts to review as well as validate bilateral investment treaties entered by Nigeria with several other countries were to ensure Nigeria harvests maximum investment benefits from such bilateral trade deals.
In carrying out the review, she said it would be done in a manner that complied with global standards on labour, human rights, environment, corporate social responsibilities.
She said the review would also focus on inclusive approach that would mobilise investments and create jobs while balancing investors’ rights with obligations.
Okala explained that the move would also promote sustainable development objectives that aligned with agenda 2030 of the United Nations.
Yewande in her remarks at the meeting said that the Coronavirus pandemic had opened an opportunity for investors in the country.
She said the impact had made it imperative for very aggressive investment promotion by Nigeria as competition for capital had increased across the world.
She said the best way to proactively position Nigeria was to sell the country on a sector by sector basis, based on specific investments that cut across various areas.
Sadiku said the NIPC was currently having a number of engagement with its partners to boost the level of investment inflow into the country.
