Nigeria has once again held a successful second phase of the 2012 session of the Honorary International Investments Council(HIIC) with expressed hope that the nation stands a better chance of becoming one of the World’s most economic greats if her current upsurge of economic progress remains.
The two day Conference which commenced on November 29 and ended on Friday November 30 was the 13th edition of the Investments Council established to look for ways forward on investment prospect in Nigeria.
The nation has been tipped as a major World economic player for years to come and the most fast growing on the continent of Africa today.
The 12th session of the business Conference was held in Abuja in July this year and the coordinator, Member of Parliament Baroness Lynda Chalker of Britain at the closing session of the Abuja meeting invited Nigeria president to meet investors in London.
The main key words of the conference were trade and investment.
The London’s edition convened meeting was held at the prestigious Berkeley International Hotel in London’s Knightsbridge.
The Honorary International Investments Council (HIIC) is a cross-country organization of prominent investors, drawn from various countries around the world with the task of advising and encouraging governments on economic development issues as concerned nations, especially the fast growing economies in the World.
The business conference sessions held in London on Thursday and Friday past had Vice President Namadi Sambo leading a strong team of economic planners and canvassers teaming up with business executives to carouse for international investors for the country.
It has been a general hope that Nigeria will lead Africa to a new economic prospect and industrialization before 2020.
The underline goal of the conference is attracting and luring foreign direct investments in Nigeria and promoting her private sector driven economy to an enviable level.
Another area of the conventions usefulness is empowering to curb political lootings, economic crimes and social disturbances. The council is working in partnership with Nigeria security apparatus in the fight against corruption in business transactions and general trade.
Dr Dalhatu Tafida, Nigeria’s High Commissioner to the UK had highlighted the aims of the Council among others as assisting countries in Africa to develop their economy and also takes responsibility in monitoring the progress achieved by individual countries through a feedback mechanism in measured success.
“What they do is to advise these countries on how to do things properly to attract more investment, and if you are an investor, they also advise you on where to invest and maximise returns from your investment’ Dalhatu told the News Agency of Nigeria(NAN)’.
Investopedia describes HIIC An organization of prominent investors from around the world that advises the Nigerian government on matters pertaining to the country’s economic development. The council’s goals include reducing political corruption, helping Nigeria to become Africa’s biggest oil producer, attracting investment in the country from the private sector and from foreign countries, and making Nigeria more competitive in the global economy.
It is an assemblage of outstanding global investors that meets twice annually. It advises the Nigerian government on issues pertaining to economic development particularly in the area of attracting the much needed foreign investors.
It was initiated by erstwhile President Olusegun Obasanjo in 2004 to curb political corruption in order to make the country a major focus in the global economy.
Established in 2004, HIIC holds two meetings per year. Nigeria is considered an emerging market economy. It has one of the higher GDPs in the world and is prosperous by African standards. However, the country faces many challenges to investment, including crime, violence, ethnic tensions, poverty, political instability, a history of colonial and military rule and fighting over the country’s oil resources.
Namadi Sambo, Lamido Sanusi, FemiOtedola, Aliko Dangote, Ngozu Okonjo Iweala and Segun Aganga in London
Dare Lasis, reporting from the venue on Thursday claimed that Cenral Bank of Nigeria Governor, Lamido Sanusi, Mr Femi Otedola, Mr Segun Aganga and many other notable Nigerian investors used the opportunity of the visit to meet and deliberate on ways forward about taking the nation to a new economic level.