Nigeria to conclude National Investment Promotion Coordination framework

In order provide a clear strategy for seamless collaboration and coordination of the Investment eco-system, as well as usher in a robust and effective stakeholder communication and engagement, the Nigerian Investment Promotion Commission (NIPC), says it will conclude the National Investment Promotion Coordination Framework.

The newly appointed Executive Secretary of the Commission, Saratu Umar said this during the occasion of her resumption as the Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission in Abuja, Nigeria’s capital.

She noted that the framework 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 impact,” She said.

The NIPC boss stated that her vision since assumption of duty in 2014 is to transform NIPC into a gold standard of excellence on the African Continent and a world-class Investment Promotion Agency.

“This Vision still remains necessary due to the fact that, as the gateway to the Nigerian Economy for Investors, NIPC should be a strong and a role model public institution with a private sector orientation.” She added.

The Executive Secretary explained that with over 170 Investment Promotion Agencies, (IPAs) worldwide competing to channel Foreign Direct Investment to their different countries, it is imperative that the NIPC is positioned to ensure that Nigeria wins in this global market.

According to her, “This is especially important with the onset of the Africa Continental Free Trade Agreement which is now in force. In 2021, a UN report noted that Foreign Direct Investment into Africa grew by 147 percent; this has accentuated the race by African economies to showcase their investment climate reforms and business-friendly policies, facilitated by very competitive IPAs, that are vying for a greater share of inbound investment.”