Abuja, Jan. 31, 2023 – Nigeria’s vehicle production industry attracted over $1 billion worth of foreign investments in 2022.
Otunba Adeniyi Adebayo, the Minister of Industry, Trade and Investment, said this in Abuja on Tuesday during the 20th edition of President Muhammadu Buhari’s administration scorecard series.
He said that Nigeria had successfully revised its model of Bilateral Investment Treaty (BIT) to include a specific provision for investment facilitation.
Adebayo said the review of the National Automotive Industry Development Plan (NAIDP) was nearing completion.
He said that the plan was going through a validation process.
The Minister said the trade ministry and the Nigerian Investment Promotion Council (NIPC) were committed to improving the business environment to attract and retain investments. (GBN)
