By Godfrey AKON
The Nigeria Investment Promotion Commission, NIPC, has reaffirmed Nigeria’s commitment towards fostering an investment-friendly environment, as the country seeks to further unlock its economic potentials.
Speaking at the NIPC Annual Media Parley on Friday in Abuja, the Executive Secretary of the commission, Ms. Aisha Rimi, said its strategic approach over the past year has led to significant strides in attracting both foreign and local investments.
Rimi said the Commission was focused on aligning its efforts with President Bola Tinubu’s 8-Point Agenda, emphasizing economic diversification, infrastructure development, and human capital enhancement as key drivers of future growth.
She noted the Commission’s successful participation in global platforms like the World Economic Forum in Davos, where Nigeria was showcased as an emerging investment hub, fostering discussions with global CEOs and stakeholders.
According to her, through robust partnerships with international organizations such as JETRO, JICA, UNDP, GIZ, and UNIDO, the NIPC has gained access to vital technical support, funding, and international markets, advancing investment opportunities in sectors such as telecommunications, manufacturing, and oil and gas.
Rimi emphasized the importance of creating a conducive regulatory environment, as well as engaging state governments to make investments more attractive across Nigeria’s diverse regions.
She said a key component of the NIPC’s strategy is its investor relations approach, focusing on maintaining open channels of communication with current investors.
The NIPC said by understanding their challenges and addressing concerns promptly, the NIPC has been able to ensure that businesses operating in Nigeria remain confident in their long-term prospects.
She further stated that the Nigerian Investment Certification Programme for States, NICPS, is working to ensure that investments are not concentrated in one region but are spread across the country, stimulating local economies and aligning with the broader goals of the Tinubu administration.
Looking ahead, Rimi outlined the NIPC’s focus on promoting innovation and technology investments, particularly in fintech, agri-tech, and renewable energy.
She said in addition, the NIPC is setting its sights on attracting eco-friendly projects that align with the global sustainability agenda.
Rimi expressed optimism for the future, calling on all stakeholders to continue working together to attract and retain investments that will propel Nigeria to the forefront of the global economic stage.
She noted that with a renewed commitment to innovation, strategic partnerships, and sustainability, the NIPC aims to create a thriving economic environment that benefits all Nigerians.
Also speaking, the Director of Incentives Administration at NIPC, Lovina Kayode, disclosed that the commission attracted N386 billion investment from 37 companies.
Kayode said the investment was attracted through the commission’s Pioneer Status Incentive, a special programme that granted tax wavers to companies from 3 to 5 years.
She further disclosed that 5,559 jobs were created by the commission through its pioneer status incentive programme.
According to her, NIPC’s incentives covered investment policies and protections, general tax-based incentives, sector-specific incentives, tariff-based incentives, export incentives, and special economic zones.