The Federal Government will, henceforth, ensure proper use of incentives provided to investors in the country.
Fielding questions from the News Agency of Nigeria (NAN) in Abuja, Mrs Uju Baba, Executive Director, Nigerian Investment Promotion Commission, on Saturday 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,” Baba said.
According to the director, the incentives will cover all the sectors of the economy. She added 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.