Nigerian Investment Promotion Commission (NIPC) at the weekend revealed that parts of it achievements in President Bola Ahmed Tinubu led administration is the collaboration with the Oyo State Agri-Business Development Agency (OYSADA) and Arise Integrated Industrial Platforms to facilitate an investment of over $100m in agricultural sector by Raedial Holding Ltd in Oyo state.
In a paper presentation on the achievements and next steps for the Department of State Coordation of NIPC, the Investment Officer, Aisha Wando, during a media parley in Abuja, said NIPC has also collaborated with Ondo State Development & Investment Agency and ONDIPA to facilitate $4m fiber cables investment by BC Fiber Optic (a Turkish Company) in Ondo state.
She said they also collaborated with the Oyo State Ministry of Lands & Housing to facilitate the revival of the Oluyole Free Trade Zone on a PPP arrangement with the Consumer Goods Myanmar Limited’ (CGM).
She said the company
intends to establish 8 manufacturing plants in the zone and also provides support towards the resuscitation of the Osun State Investment Promotion Agency (OSIPA) to create an enabling business environment for existing businesses and to attract potential investors in the state.
The Executive Secretary/CEO, NIPC, Ms. Aisha Rimi, highlighted the synergy between the NIPC’s efforts and Tinubu’s 8-Point Agenda, which outlines the key
pillars for transforming Nigeria’s economy.
She said the 8-Point Agenda—ranging from
fostering a diversified economy, enhancing infrastructural development, improving
security, to boosting human capital—provides a solid foundation for driving
investment and economic growth in the country.
She said they have implemented policy recommendations that create an
environment conducive to both foreign and local investors, in alignment with the
objectives of President Tinubu’s agenda, particularly in the areas of economic
diversification and infrastructure development.
On Policy Advocacy, she said NIPC has been diligently advocating for policies that
create a welcoming environment for investors.
“Through dialogues with
relevant MDAs and state governments, we have pushed for enhanced
regulatory frameworks that support business operations, ensuring investors
can thrive in the Nigerian market.
“These efforts are in direct alignment with
President Tinubu’s focus on improving the business environment across the
nation.
“On Efforts in Retaining Investments
Apart from attracting new investments, NIPC has also focused on retaining
existing investors by ensuring their concerns are addressed promptly and
effectively.
“This is part of our broader strategy to align with President Tinubu’s
goal of stabilizing the economy and improving Nigeria’s global competitiveness.
“Investor Relations Strategy: We have adopted a robust Investor Relations
strategy to keep the lines of communication open with businesses currently operating in Nigeria.
“Regular feedback mechanisms have been instituted, enabling us to understand investor expectations and challenges, thus
allowing us to act proactively and decisively.
“Strengthening Relationships with State Governments: Our strategic
partnerships with Sub Nationals have been central to retaining investments.
Through the Nigerian Investment Certification Programme for States
(NICPS), we work closely with state governments to create attractive,
investor-friendly environments that contribute to economic growth at the
state level.
” The NICPS aligns with President Tinubu’s objective of ensuring
that investments are spread equitably across the country, taking into
cognizance each state’s unique competitive advantages.
” These programs are designed to enhance the skills of local entrepreneurs and equip
them with the necessary tools to compete on both the national and global
stages, ultimately contributing to a more favorable investment climate,” she said.
Looking Ahead, she said NIPC is committed to launching several initiatives
aimed at driving further economic growth through investment amongst others.