By Henry Uche, Lagos
The Nigerian Investment Promotion Commission (NIPC) has reiterated its commitment to work with relevant government Ministries, Departments and Agencies (MDAs) to set up the Nigeria-Chad Joint Business Council relationship.
In a statement delivered by the Head, Press & Protocol of NIPC, Daniel Awurum, the Council is expected to serve as a platform for the development of stronger commercial ties and the improvement of bilateral trade and investment flows between the two countries.
According to the statement, the agreement was the outcome of a meeting between Management of NIPC and a business delegation from the Republic of Chad led by Nigeria’s Ambassador to Chad, His Excellency, Sadique Abubakar and his counterpart, Ambassador of Chad to Nigeria, His Excellency, Abakar Saleh Chahaimi in Abuja recently.
Speaking at the session, the Ag Executive Secretary/CEO, NIPC, Mr Emeka Offor said ‘NIPC will facilitate the setting up of the Joint Business Council in accordance with our mandate – to encourage, promote and coordinate investments in the country.’
For ambassador Chahaimi, ‘both countries recognise the potential value of the informal trade activities across their borders. There is, therefore, the need to formalise business activities between both countries,’ he stated while making the case for setting up the Joint Business Council. He further suggested that NIPC should translate its Book of States to the French language, to enable Chadian businessmen to understand and appreciate Nigeria’s investment environment.
Nigeria’s Ambassador to Chad stated that he has been particularly interested in increasing the trade and investment between both countries since he assumed office in January. Ambassador Sadique who was Nigeria’s former Chief of Air Staff said: ‘I think we can also look forward to how we can promote trade through cargo flights between both countries.’
It is important to note that, the trade and investment relationship between Nigeria and Chad, which were majorly informal, predates the political independence of both countries.
The establishment of the Joint Business Council is expected to foster bilateral relations between key public and private sector stakeholders in both countries and drive the actualisation of tangible investments which will drive economic growth, development and sustenance.