FG launches online portal for investors, targets first 100 in Ease of Doing Business ranking

The Federal Government has launched an online portal for willing investors with a view to joining the first 100 economies in the Ease of Doing Business.

The online portal, “iGuide Nigeria”, which is an investment guide for both foreign and domestic investors, would provide investors with up-to-date information on business costs, opportunities and conditions in Nigeria.

Speaking at the launching ceremony in Abuja on Thursday, Minister of Trade and Investment, Mr. Okechukwu Enelamah, who was represented by the Permanent Secretary of the Ministry, Mr. Edet Akpan, said the newly launched portal would enable investors have access to valid information‎ while making investment decisions into Africa’s largest economy.

“The ranking of Ease of Doing Business for now is not good enough for Nigeria; we are working hard to ensure that in the next ranking the country will be among the top 100.

“Investors seeking to make investment into the Nigeria’s economy could now have a one stop Information Centre since all the information required from Labour laws, industrial relations, payment of Taxes and all forms of levies are also provided there,” Enelamah said.

Nigeria was ranked 145 among 190 economies in 2017 in the World Bank 2018 Report on the Ease of Doing Business after moving up by 24 points from 169th position it held in 2016.

Also speaking, Yewande Sadiku, the Executive Secretary, Nigerian Investment Promotion Commission (NIPC), said that countries with “iGuide” use it to fast track investment inflow into their countries.

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“The Web portal has been made easier such that all the launguages recognised by Google could translate the information on the portal. The Japanese, Chinese, and other global countries could source for investment information ‎in their respective language once they click on the portal.

“It provides information on starting business, labour, production factors, land, taxes, investor rights, growth sectors and opportunities,” she said.

Mr Emmanuel Chinyama, Economic Commission for Africa Officer, said Nigeria was among the first four countries to improve on iGuide, adding that NIPC has taken the right step to improve investment drive to Nigeria as Africa’s largest economy.

“Nigeria is among the first countries that had come up with this development, with other countries comprising of Malawi, Zambia, and Congo,” he said.

Chinyama also pointed out that while the portal remains the best way to improve investment process, it would also be used to share experiences.

 

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