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UNIDO establishes Africa’s first investment promotion office in Nigeria

by Business News Report

The United Nations Industrial Development Organisation (UNIDO) has set up an investment and technology promotion office (ITPO) in Nigeria to complement the country’s efforts at attracting global investment. Mr Olusegun Aganga, the Minister of Industry, Trade and Investment, disclosed this to State House correspondents at the end of the weekly Federal Executive Council meeting in Abuja.
Aganga said that the office would also provide support to the country in the adoption and dispersal of industrial technology to drive its development efforts. “What is unique about this is that UNIDO only has eight of such offices in the world, and Nigeria would be hosting the first and the only ITPO in Africa. It shows that the world continues to acknowledge the efforts of this administration in transforming the structure of our economy as a nation. This is not the first time, but I think this acknowledgement and selection sends the right message to Nigerians and to global investors that the transformation in Nigeria is actually the right step and is moving in the right direction.“
The minister also said that UNIDO had selected and included Nigeria and Ethiopia in its Accelerated Intervention Programme for Industrial Development.
According to him, this is in recognition of the potential and industrial development efforts of both countries.
“According to UNIDO, these are the two countries in Africa that have shown the strongest and the highest potential for industrialisation in Africa. Through this action, UNIDO has not only associated itself with the unparalleled and rapid transformation taking place in Nigeria, but has clearly endorsed Nigeria’s Industrial Revolution Plan launched by Mr president in February 2014.“


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