International investment agreements: FG begins series of reforms 

International investment agreements: FG begins series of reforms

Business

International investment agreements: FG begins series of reforms 

From Atiku Sarki, Abuja 

 

The Federal Government is to undertake series of reforms of nation’s Bilateral International Treaties to attract responsible, inclusive and sustainable investments.

 

The Director, Legal Department of the Nigerian Investment Promotion Commission (NIPC), Patience Okala stated this during a media parley organized by the commission in Abuja recently.

She said the commission’s effort to review as well as validate bilateral investment treaties entered by the country with several other countries were to ensure that the nation harvest maximum investment benefits from such bilateral trade deals.

In carrying out the review, she explained, it will be done in a manner that complies with global standards on labour, human rights, environment, corporate and social responsibilities.

The review, she said, would also focus on inclusive approach that would mobilize investments and create jobs, while balancing investor’s rights with obligations.

The director further explained that the move will also promote sustainable development objective that aligns with the agenda of United Nations of 2030.

Earlier in an opening remarks at the meeting, the Executive Secretary and Chief Executive Officer of NIPC, Ms. Yewande Sadiku had said that the coronavirus pandemic has opened an opportunity for investors in the country.

Ms. Sadiku said the impact has made it imperative for aggressive investment promotion by the country as competition for capital has increase across the world.

As she led the management team at the media parley, she said that the best way to proactively position the country is to sell it on a sector by sector basis based on specific investments that cut across various areas.

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