Envoy: Taiwan Awaiting Nigeria’s Consent on IPPA Renewal

Oluchi Chibuzor 

The Representative and Chief of Taiwan Mission in Nigeria, Andy Liu, has said that his country is awaiting President Bola Tinubu to consent to renewal of the 1994 bilateral Agreement for Investment Protection and Promotion ( IPPA).

This is as emphasised that the renewal signing would greatly encourage Taiwanese investors interested in visiting and investing in Nigeria.

Speaking at a press conference in Lagos, yesterday, Liu said both countries share the same belief in upholding democracy and development as fundamental principles.

According to him, “Taiwan welcomes the Nigerian Federal Government’s approach to renew the 1994 bilateral Agreement for Investment Protection and Promotion (IPPA) and we are ready to sign for renewal, together with our counterpart Nigerian Trade Commission in Taiwan. This renewal signing will greatly encourage Taiwanese investors interested in visiting and investing in Nigeria.

“Taiwan welcomes the re-activating of Bilateral Consultations of our two governments, and would like to propose consultations being hosted at Permanent Secretary level / decision-making officials. The Australian Government has practiced this consultation for at least two decades.

“Taiwan can be more than a valuable partner for both Nigeria and Africa, because Taiwan plays a significant role in global economy, democracy, science & technology, social development, and serves as a true model of non-oil economy. We, therefore, urge the Nigerian Federal or State Governments to take up the world trend of collaborating with Taiwan to upgrade and deepen our bi-lateral relations in the near future.”

Liu stated that as a country, they remained committed to help the President realise his dream of making South-East the Taiwan of Africa.

“President Bola Ahmed Tinubu openly declared during the election campaign November 2022 that he would promote the South-East of Nigeria to become the Taiwan of Africa. We have never been so proud, and we’re ready to offer assistance to fulfill the great Renewed Hope Agenda,” he stated.