NIPC Sets Path Of Sustainable Progression For Investors 

The Nigerian Investment Promotion Commission (NIPC) has sets a path of sustainable progression for investors , even as it unveiled the Nigeria Investment Promotion Masterplan (NIPM) for commodity value-chain development.

This was disclosed by the Executive Secretary, of NIPC, Saratu Umar stated this during a stakeholder meeting recently, and said part of her mandate is to ensure synergy of cooperation with the Ministries, Departments and Agencies (MDAs).

According to her, the Commission is engaging Ministries, Departments and Agencies (MDAs) to set a path of sustainable progression where investors can come and thrive.

She explained that the reason for the stakeholder meeting is to provide information about the role of NIPC in investment promotion.

“The is providing a platform to strengthen existing synergies, establish new relationships and linkages that would facilitate this objective, seek areas of collaboration with this these agencies relevant to NIPC’s mandate including attracting Investments into different sectors of the economy.”

This, according to her, will facilitate import, substitution and foreign exchange generation amongst others. The partnership will improve investor services and maximise Nigeria’s LDI and FDI potential, especially with the onset of Nigeria’s IPA is positioned to ensure that Nigeria gets a fair share of this global market. This is especially important with the onset of the Africa Continental Free Trade Area (AfCFTA).

She pointed out that with this in place, the commission will get feedback on areas of challenges for investors in the course of doing business in Nigeria, which will in turn move the commission to create a platform for an independent and objective assessment of the performance of NIPC in the delivery of its mandates.

Umar hinted at maximising Nigeria’s domestic and foreign investment potential, especially with the onset of the AfCFTA, ultimately, the desired goal is galvanising a collective action that will firmly place the country, on the path of sustainable prosperity for current and future generations.

“By implementing our mandate, we will support the government’s various general and sectoral policies and executive pronouncements.”

“Nigeria is a resource-rich country with a potential that is unrivalled by any other country in the world, lamenting that this potential has not been fully harnessed.

“The competition in the global terrain is real, Nigeria cannot afford to be left behind, the nation needs to take its seat on the global stage where other notable country investors are operating, which is why the commission is moving swiftly to regain the trust of investors internationally and locally.”

“Global FDI market over the last decade has become very competitive and versatile where the investment promotion thrust of successful jurisdictions that are attracting the largest global market share of FDI inflows are driven by effective, efficient and performance-driven Investment Promotion Agencies (IPAs).

In 2021, a UN report noted that FDI inflow into Africa grew by 147 per cent. This accentuated the race by African economies to showcase their investment climate reforms and business-friendly policies, facilitated by very competitive IPAs that are aggressively vying for a greater share of the inbound investment.

The emergence of the AfCTA as well as shifts in the ECOWAS Investment Protocols and the development of the national development plan have made Nigerian integrated infrastructure masterplan and others require the central and strategic role of the NIPC in the coordination of all investment promotion which should be activated