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NIPC Commission says FG will check abuse of incentives by investors

The director said the incentives will cover all the sectors of the economy, adding that the nature and application of statutory, export and other incentives had been simplified.

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Dismissed NIPC Executive Secretary, Saratu Umar play

Dismissed NIPC Executive Secretary, Saratu Umar

(Premium Times)

Mrs Uju Baba, Executive Director, Nigerian Investment Promotion Commission, on Saturday said the Federal Government would ensure proper use of incentives provided to investors.

Fielding questions from the News Agency of Nigeria (NAN) in Abuja, Baba said the incentives were provided to stimulate private sector investment from within and outside the country.

"This is part of efforts to provide enabling environment for the growth and development of industries and inflow of foreign investment.

"This will also stimulate the expansion of domestic production capacity.

``It is hoped that the incentives will help revive the economy, accelerate growth and development and reduce poverty,’’ She said.

The director said the incentives will cover all the sectors of the economy, adding that the nature and application of statutory, export and other incentives had been simplified.

"Because some of the investors are misusing the incentives, the federal government has decided to put in place measure to ensure proper use,’’ she said.

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