The Nigerian Investment Promotion Commission (NIPC) has pledged its support to work with relevant government Ministries, Departments and Agencies (MDAs) of both countries to set up the Nigeria-Chad Joint Business Council.
This is contained in a statement issued and signed by NIPC Head, Press and Protocol, Daniel Awurum, on Monday.
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.
This, is the outcome of a meeting between NIPC and a business delegation from Republic of Chad, led by Nigeria’s Ambassador to Chad, Mr. Sadique Abubakar and Ambassador of Chad to Nigeria, Mr. Abakar Chiami in Abuja.
Executive Secretary of NIPC, Mr. Emeka Offor, said: ”It will encourage, promote and coordinate investments in the country.”
Chiami, in a remark stated that both countries recognised the potential value of the informal trade activities across their borders hence the need to formalise business activities between both countries.
Chiami, while making case for setting up the Joint Business Council, further suggested that NIPC should translate its Book of States into French language.
This, he said would enable Chadian businessmen to understand and appreciate Nigeria’s investment environment.
On his part, 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 2021.
Abubakar, who was Nigeria’s former Chief of Air Staff said it was important to note that the trade and investment relationship between Nigeria and Chad, which were majorly informal, predated political independence of both countries.
“I think we can also look forward to how we can promote trade through cargo flights between both countries,” he said.
The establishment of the Joint Business Council is expected to foster bilateral relations between key public and private sector stakeholders in both countries.
It will drive the actualisation of tangible investments which, will drive economic growth and development.