Nigeria Open Doors To First International Trade And Investment Centre

The Nigerian government has set up its first-ever Trade and Investment Centre in the world. It is located in London, UK. This historic move aims at attracting foreign investment to Nigeria, not just from Britain but also from around the world.

(PRWEB) December 14, 2003 --The Nigerian Investment Promotion Commission has partnered with Integral Consultants (UK) Ltd, a London-based firm, to establish the first Nigerian Trade and Investment Centre (NTIC) in the world.

This historic partnership is determined to create easy access for potential investors, businesses and other interested parties wishing to take advantage of the deregulation and privatisation process currently taking place in Africas richest state. The Centre is also strategically positioned to provide logistical and business support to Nigerian based companies wishing to identify joint venture partnership, funding and marketing of exportable goods and services.

In the past, Nigeria has suffered severely from negative publicity following a number of high-profile fraudulent practises by a few nefarious individuals, which greatly reduced the amount of international commerce geared towards the country. The challenging problems experienced by those wishing to do business with Nigeria included poor communication and concerns over security.

NTICs corporate structure has been designed to tackle these problems armed with a cache of professionals operating in both the UK and Nigeria. Professionals such as Chartered Accountants, Lawyers, Economists, Tax Experts, Bankers, Stock Brokers, Investment Analysts and Security Operators have been deployed for this excercise.

Some areas that will be covered include the following:

Bank Partnership: Introduction of clients to banks with proven track record in area of financial stability as well as good client and customer relationships.

Business Investment Analysis and Research: Feasibility Reports, Market Research and Qualitative Analysis will be implemented to ensure that transactions are worthwhile. In addition, advice would be offered to those wishing to tender contracts and obtain licence in industries such as oil, gas, minerals, aviation, exports and various other areas of economic interest.

Taxation: Auditors and tax experts will be on hand to give advice on VAT, and other difficult financial issues.

Credit Scoring: With an extensive link to a number of Nigerias leading credit scoring firms and bodies, NTIC will be able to provide professional and detailed information on any organisation, prospective investors may wish to acquaint themselves with. This removes the threat of possible fraudulent practises.

Company Registration: Organizations wishing to explore the vast business opportunities in Nigeria are able to complete the business registration process at the Centre without having to travel to Nigeria.

Other Areas: On behalf of clients, NTIC will assume responsibilities for Human Resources, Export and Free Trade Zone advice, Real Estate, Hospitality and Immigration advice amongst others.

According to Dr Mfon Amana, Chairman of the Nigerian Investment Promotion Commission based in Nigeria: The core aim is to successfully bridge the ever increasing gulf between the Nigerian business environment and the international community, thus providing quality information that would support prospective investors and businesses in their decision making process.

In the very near future, NTIC, as part of its strategic plan, intends to organise regular workshops and seminars on doing business in Nigeria. Plans are also underway to initiate an annual Trade and Investment Exhibition that would feature major exhibitors from the Nigerian private and public sectors who will showcase the true potentials Nigeria has to offer."

Mr Afolabi Andu, CEO Integral Consultants commented: This is a historical partnership. For years, Nigeria has suffered as a result of bad practises of a few who have hidden behind poor communication and business flaws that have been hampering our system. Today, people can confidently trade with Nigeria without the fear of malpractices or ineffective communication delivery.

Experts have been invited to participate in the running of the Trade Centre and also to ensure that a very high business operating standard is maintained. We know that many people have desired to do business with Nigeria in the past but felt the process quite painstaking. NTIC can confidently guarantee a much smoother ride.

Notes To The Editor
1.   The Nigerian Trade and Investment Centre is located at No. 8 Fulton Road, Wembley, London HA8 0ND operating on about 1,500 feet of office space.
2.   The Centre operates under the umbrella of the International Trade and Investment Centre.
3.   The current economic climate in Nigeria encourages international investment due to the following factors: Nigerias stock market is acknowledged as one of the most viable in the world: 100% ownership of companies in Nigeria is now opened to foreign investors: Government holds no harsh foreign exchange restrictions; investors would benefit from the full investment protection policy enacted by the Government; Real Estate margins in Nigeria are in excess of 100%. Other areas presently opened to investment include Aviation, Telecommunication, Banking, Agriculture and Tourism.
4.   The Nigerian Trade and Investment Centre is wholly managed by Integral Consultants (UK) Ltd and the Centres local partners in Nigeria are the Nigerian Investment Promotion Commission headed by Dr Mfon Amana.
5.   Integral Consultants is run by Mr Afolabi Andu, a notable Nigerian entrepreneur based in London. He has been described by the British Guardian Newspaper as Champion of the Community Spirit" and has won numerous awards in the UK, some from the Bank of England. His first Award was presented to him in 1990 at the Bank of England and the second the Governor of the Bank of England, Sir Eddie George, personally presented him with the Millennium Achievers Award in 1999. Mr Andu is the Chairman of the Nigerian British Forum (The leading Nigeria professional body in Britain). He is also the President of the Nigeria Achievers Award Institute (a body charged with the responsibility of identifying and honouring Nigerians who have distinguished themselves in their professional endeavour in Britain) and Coordinator of the African Economic Research Foundation (AERF).

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