FG inaugurates Africa’s first global Investment Office

The Federal Government, on Tuesday, inaugurated the United Nations Industrial Development Organisation’s first global Technology and Investment Promotion Office in Nigeria. The establishment of the Nigeria ITPO, the first to be located in sub-Saharan Africa, is a product of the discussions and negotiations between the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, and the UNIDO Director General, Mr. Li Yong, in June 2014, on the desirability of establishing the Office in Nigeria. Speaking during the inauguration in Abuja, Aganga said that the establishment of Nigeria TIPO signified UNIDO’s confidence in the Nigerian economy. He added that the long term objective of establishing the office was to drive rapid industrial development, create jobs and expand the industrial base of Nigeria and the ECOWAS region. The minister said, “Today, we are making history as we inaugurate the first TIPO in Africa. This is a sign of UNIDO’s confidence in the Nigerian economy and the Nigeria Industrial Revolution Plan. “In June 2014, I officially requested UNIDO’s contribution to the implementation of the NIRP and the National Enterprise Development Programme, by setting up an Investment and Technology Promotion Office (ITPO) in Nigeria. I am delighted that that request has been granted, and it is one of my many parting gifts to my country. “ The long term objective of Nigeria ITPO is to drive the process for rapid industrial development, create jobs and expand the industrial base of Nigeria and the ECOWAS region.”