Minister of industry, trade and investment, Otumba Adeniyi Adebayo, yesterday told the House of Representatives Committee on Public Accounts that several African countries were lobbying companies registered and operating in Nigeria to relocate to their countries.
The minister who led other agencies under the ministry to appear before the committee to respond to queries from the auditor-general of the federation said the Nigerian government was doing everything possible to ensure that such companies don’t leave again.He said many of the countries, including Ghana has increased their capital allowances to companies and have taken away lots of investment from the country, adding that what is keeping some companies in the country today is Nigeria’s population.
He said the government was looking for ways of increasing the level of new investment in the country and sustaining existing ones, saying “our duty is to support investment growth In Nigeria. It is public knowledge that getting this investment is increasingly becoming difficult today.”
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