The Nigerian Investment Promotion Commission(NIPC) has assured that it would execute targeted investment drives to facilitate foreign and local direct investments that suit Nigeria’s development and investment needs.
Newly appointed Executive Secretary, NIPC, Saratu Umar gave the assurance on her resumption of office, in Abuja.
Umar said Global Foreign Direct Investment (FDI) markets over the last decade have become more competitive, with over 170 IPAs worldwide competing to channel FDI to their different countries, hence the need to ensure Nigeria wins in the global market.
“We will orchestrate and execute targeted investment drives along country-specific, investor-specific, sector-specific, industry-specific, regionalspecific, and investment-type specific strategies to facilitate FDI (and LDI – Local Direct Investment)that fit into Nigeria’s development and investment needs, in an inclusive, coordinated, tangible, measurable and effective manner.
“Global Foreign Direct Investment (FDI) markets over the last decade have become more competitive,
and the investment promotion thrust of countries that are attracting the largest global market share of FDI inflows are driven by effective, efficient, and performance-driven Investment Promotion Agencies (IPAs)” the NIPC boss said.
Umar lauded President Buhari Administration’s Business Environment Reform Agenda with the passage of the Companies and Allied Matters Act 2020 and the passage of the Petroleum Industry Act 2021, which she noted has eliminated several constraints in policy, legislation and regulations that have hindered investments in the past.
She further assured that the commission will support Federal Government’s various general and sectoral policies, and Executive pronouncements, as it will also conclude the National Investment Promotion Master plan, which she noted is aimed at having clear actions that key into Federal Government’s various sectoral master plans and policies.
According to Umar, the commission
“will logically conclude the National Investment Promotion Coordination Framework, to provide clear strategy for a seamless collaboration and coordination of the Investment eco-system, as well as usher in a robust and effective stakeholder communication and engagement.
“This will result in effective partnerships between NIPC and critical stakeholders including the international community and development partners.
“We will listen to, and work with, our stakeholders. Indeed, within the next two months, we will hold the second series of our stakeholder engagement which we started in 2014, with various key stakeholder sessions to discuss their challenges, interact, and obtain feedback towards resolving them and creating synergies that facilitate investments”.
Soliciting the cooperation of the staff, she urged them to stay focused, development-oriented, and implement strategies for greater achievements.
Affirming of her commitment to service, the NIPC boss also charged the staff of the commission to uphold good corporate governance in delivering best-in-class quality with zero tolerance for corruption.