Nigeria partners with Israel in investment development

Jennifer Inah, Abuja

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Acting Executive Secretary of the Nigerian Investment Promotion Commission (NIPC), Mr Emeka Offor has reiterated the Commission’s commitment in exploring all viable options that can attract, grow and position the country as an investment destination of choice to investors.

He stated this when he led a team of the Commission’s staff to pay a courtesy visit to the Israeli embassy in Abuja ahead of the upcoming Innovation Fellowship for Aspiring Investors and Researchers (i-FAIR) 2021/22.

Mr Offor noted that “Nigeria has the most startups in Africa and a dominant force in the tech space but falls short on critical elements that help startups to thrive beyond its founding.”

“These critical elements such as digital infrastructure and lack of investment requires investors engagements and start-up supports which the Government of Israel through the i-FAIR initiative is bridging.” 

“It is our hope that the spread gets wider and we will create awareness of the facility across our development partners”.

The Deputy Chief of Mission and Consul of the State of Israel in Nigeria, Mr Yotam Kreiman, expressed his appreciation for the support they have received especially by the Federal Government of Nigeria.

Mr Kreiman said the $300,000 project will feature 50 start-ups, scrutinized and selected and upon completion will be exposed to ready invest investors and mentors that will help in ensuring their growth and sustainability.

He emphasized that sponsorship of candidates in the center is open to all developmental organizations and individuals who intend to use the facility.

“We are indeed very proud of this center the only one affiliated to an Israeli mission anywhere in the world,” he said.

i-FAIR initiative was created by a partnership between the Embassy of Israel’s Skill G Innovative Center and the Nigerian Government.

The initiative targets 5 focus areas – Agriculture & Food Security, Food Security, Food Technology, Renewable Energy/Environmental Management, Medical Devices/Simulation and Social Responsibility/Solutions for Personal responsibilities.

The first phase of the programme has been concluded while the second is currently ongoing.

Bilkisu Pai

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