Mustafa Bello

Background

He is a cousin to the Nigerian billionaire retired army officer colonel Sani Bello. Colonel Bello is being credited for sponsoring Mustafa through school and also giving huge financial support that made it possible for him to become a minister in 1999. Bello obtained a Bachelor of Engineering (Civil) from Ahmadu Bello University, Zaria through scholarship by the then North Western State Before entering politics he held various positions including Chairman of the Niger State Housing Corporation Board, Managing Director of Prime Pipes and Plastics and Chairman of Musty Digital Systems. He was appointed Chairman of the Caretaker Committee of the Democratic Party of Nigeria (DPN) in July 1997, and was Senatorial Candidate for Niger North Senatorial District in 1998 during the planned transition to civilian rule under General Sani Abacha, later transferring to the People's Democratic Party (PDP).

Minister of Commerce

Bello was Minister of Commerce from 1999 until he resigned in 2002. In August 2001 he said that Nigeria's huge gas resources would last for about 50 years, and could supply the continent once planned pipelines had been constructed. In March 2002 Bello urged GSM operators and other telecommunications service providers to reduce their tariffs and provide quality services for their customers. In June 2002 the Niger State government accused Bello and Information Minister Jerry Gana of being behind the June 4 attack on Governor Abdulkadir Kure. Both men denied the allegations.

Bello resigned from the government, and in December 2002 became the candidate of the newly registered People's Redemption Party (PRP) for governor of Niger State. He said he had left the People's Democratic Party (PDP) because it had been hijacked by the administration of Governor Abdulkadir Kure for selfish reasons. He came in second after Kure, who was reelected.

Nigeria Investment Promotion Commission

Bello assumed the position of Executive Secretary and Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC) in December 2003.

In June 2005 he predicted that interest rate would fall to about 6% on completion of bank recapitalization in 2006. In July 2006 the Chinese Commercial Counselor Mr. Hu Yu Chen praised the NIPC in assisting Chinese investors, and said that in 2005 trade between Nigeria and the People's Republic of China had exceeded $2.8 billion, making Nigeria China's second largest trading partner. This was an increase from $1.45 billion 2001. In June 2007 Bello confirmed that poverty was in the increase, with half of the nation's 140 million people living below the poverty line. In August 2007 Bello said Nigeria was fast becoming a preferred destination for investors, with total foreign direct investments (FDIs) now at about $35 billion, of which China alone had invested $10 billion. In December 2007 Bello said the NIPC was open to assist any foreign investor who wished to do business in Nigeria. That month he said that the NIPC investment drive were attracting about N232 billion ($2 billion) annually into the economy. In February 2008, Bello noted that the Federal Government did not encourage investment in gambling-related businesses.

In February 2009 President Umaru Yar'Adua approved Bello's re-appointment as head of the NIPC for another five years. In October 2009 Bello announced that the NIPC and the Nigerian Tourism Development Corporation had formed a partnership to increase foreign investment in tourism. In November 2009 Bello said that Nigeria was keen to cement business ties with Iran. In January 2010 Bello welcomed officials of the Islamic Development Bank (IDB), who had come to discuss introducing the bank to stakeholders in Nigeria in the private and public sector. The bank aims to reduce poverty and promote economic development without any political attachment, in the same way as the World Bank and the International Monetary Fund. In February 2010 he met with officials of the United Nations Industrial Development Organization (UNIDO) and Bank of Industry (BOI), who were discussing providing funding to develop the Nigerian palm oil, rice and textile sectors. In February 2010 he said the government would try to sustain targeted foreign direct investment (FDI), which was currently at N2.98 trillion.