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Published On: Fri, Nov 29th, 2019

NIPC positions for targeted investment promotion

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By Miriam Humbe

The Executive Secretary/CEO of Nigerian Investment Promotion Commission (NIPC) Ms. Yewande Sadiku has challenged the senior management of the Commission to drive proactive investor engagements.
This should be done by pooling the input generated from different parts of the Commission and working more closely with states to better pitch Nigeria’s investment prospects, domestically and internationally, she said.
Ms Sadiku threw the challenge in a recent meeting with the NIPC senior management team, where she shared her vision for targeted investment promotion as an extension of the ongoing efforts at improving the proactive delivery of NIPC’s mandate.
Over the last 3 years, NIPC has been laying the required foundation by tracking investment announcements in Nigeria, initiating the reform of Nigeria’s international investment agreements, implementing pioneer status incentive reforms, identifying 20 countries of strategic interest for investment promotion, documenting the competitive advantages and investment opportunities of each of the 36 states and the FCT, and upgrading its website to enhance compliance with mandatory and proactive disclosures.
NIPC has also been developing the capacity for profiling priority sectors and investment opportunities across the country.
She reviewed the Commission’s functions as captured in the NIPC Act and underscored the need for driving proactive investor engagements. Ms Sadiku also stated that the task ahead will require NIPC to pitch the investment prospects identified from this effort to the Presidency, noting that the Commission’s diligent groundwork would feed into the President’s ongoing engagements with identified investors.
This will also help ensure that NIPC’s efforts support the attraction of responsible, inclusive, balanced and sustainable (RIBS) investments to Nigeria, she said.
She reminded the team that Management’s efforts at better governance, proactive compliance and transparency over the last 3 years led to NIPC’s recent award by 6 civil society organisations (FOI award), demonstrating that success has followed past efforts.
”By its mandate, NIPC was created to be a pacesetter and cornerstone agency” she said, and sought the commitment of the senior management team for the work that is required to achieve targeted investments.

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