NEPC Seeks More American FDIs in Nigeria’s Manufacturing Sector

Business News

By Gilbert Ekugbe

WE need more investment in manufacturing and industry, because these are the real investments. This will be the major focus where we want your organization to help us. We also need to also improve the quality of our products and we are also going to need your support to expose on how we can meet the American standards.”
Mr. Segun Awolowo, Executive Director, Nigerian Export Promotion Council (NEPC) tabled this request when Nigeria America Chamber of Commerce (NACC) paid a courtesy visit to him in Lagos.
According to him, Nigeria has been a good receiver of Foreign Direct Investments (FDIs) from USA, but stressed that the FDIs had either gone into the financial services, telecommunications and ICT.
Earlier, the President, NACC, Otunba Oluwatoyin Akomolafe, said that the chamber has been working very closely with the council to seek ways to adopt a prepared AGOA implementation strategy while also calling on the need to have a more senior representation on the AGOA committee at the Ministry of Trade.
“We want you to support us and there are plans to make Nigeria the center for AGOA in Africa. So we need to really work very closely together,” he said.
He said partnership for promotion of AGOA through capacity building and awareness creation cannot be overemphasized, calling on the need for Nigeria to identify the clusters of local producers while also benchmarking successes made over time.
He added that most of the African countries that have done well in AGOA have all implemented a well articulated national AGOA strategy.
“This is why we developed over a year ago, a national strategy for Nigeria. We want an implementable strategy.

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