We’ll Drive Nigeria’s Economic Growth Through Investment –NIPC Boss

Posted by Rotimi Fadeyi Business News, Featured, Latest Headlines Sunday, December 15th, 2024

(AFRICAN EXAMINER) – Executive Secretary of the Nigerian Investment Promotion Commission (NIPC), Aisha Rimi, has said that the commission is committed to several initiatives aimed at driving further economic growth through investment.

According to her, the initiatives align with the 8-Point agenda of President Bola Tinubu, stressing that they are designed to accelerate Nigeria’s progress across multiple sectors.

While speaking at a media parley in Abuja on Friday, the NIPC boss explained that the initiatives would include innovation and technology Investments, sustainability Initiatives and continued media collaboration

On innovation and technology investment, she said, ‘we are strategizing to position Nigeria as a hub for innovation and technology investments by promoting sectors such as fintech, agri-tech, and renewable energy. We will advocate for incentives that attract tech-based companies looking to establish operations in Nigeria.

While speaking on sustainability Initiatives, Rimi said “recognizing the global shift towards sustainable investment, we are prioritizing eco-friendly projects that contribute to

sustainable development goals. Partnering with investment bodies focusing on sustainability will be pivotal in enhancing Nigeria’s appeal to socially responsible investors and advancing the green agenda”

On media collaboration, the NIPC Executive Secretary said the commission would continue to rely on and leverage the media’s undeniable reach and influence in showcasing Nigeria’s investment opportunities.

She urged the media to collaborate with NIPC in disseminating success stories and promoting those investors who have found success within the country in order to support the narrative of Nigeria as an investment destination.

Rimi highlighted the accomplishments and strategic efforts of the NIPC in attracting new investments and retaining those already within the country, stressing that over the years, the commission have fostered with various stakeholders and outline ambitious plans for the future.

According to her, NIPC has made significant strides in improving the investment landscape in Nigeria, adding that the commission implemented policy recommendations that created 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.

The NIPC Executive Secretary stated that these efforts underscored commitment to facilitating economic growth through private sector engagement.

According to her, the strategic efforts by the council include Investor engagement Initiatives, strategic partnership and policy advocacy.

She said, “our engagement with potential investors has included hosting investment forums and participating in internationa trade exhibitions, where Nigeria was showcased as a premier investment destination.

“For instance, at the World Economic Forum in Davos, I had the distinct honor of representing Nigeria with a delegation led by Vice President Kashim Shettima. This forum provided a platform for discussions with global CEOs, underscoring Nigeria’s rich investment potential”, she added

On strategic partnerships, Rimi said, “NIPC has developed several strategic partnerships with leading international organizations such as JETRO, JICA, UNDP, GIZ, and UNIDO. These collaborations have played a key role in providing technical support, funding, and access to international markets. By partnering with these esteemed organizations, we are able to tap into their expertise, resources, and global networks to enhance investment opportunities in Nigeria”.

“Additionally, we have fostered productive engagements with the Norwegian government to explore ways to strengthen economic ties with Nordic countries, particularly in sectors like telecommunications, oil and gas, and manufacturing”, she added

While speaking on policy advocacy, Rimi 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” she added.

On efforts in retaining investments, Rimi said, “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.

While speaking on investor relations strategy, she said, “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”.

On strengthening relationships with state governments, Rimi said, “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”, she added.

On capacity building programmes, she explained that, “NIPC has launched numerous capacity- building programs in collaboration with international donor agencies. 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.

Again, this aligns with the Administration’s commitment to human capital development as a key driver of national growth”.

On strategic collaborations and initiatives, the NIPC boss said, “our strategic work extends beyond the national scope. We continue to collaborate with MDAs, sub nationals and their respective investment promotion agencies, and international partners. This has been instrumental in aligning our goals with broader national economic objectives.

On partnerships with international donor agencies, she said, “by engaging with various donor agencies, we have accessed funding and technical support for investment promotion activities. This collaborative approach allows us to leverage international expertise and resources to boost the effectiveness of our human capital and initiatives. Our partnerships with organizations such as JETRO, JICA, UNDP, GIZ, and UNIDO further enhance the impact of our work, enabling us to meet global standards in investment promotion”.

While speaking on enhanced geographic focus, Rimi said, “NIPC has adopted a broader focus in promoting investment, concentrating on states with unique comparative advantages.

“This tailored approach ensures that investments are not just attracted but also aligned with regional strengths, thereby catalyzing local economic development and complementing the broader goals of economic diversification”, Rimi added.

On creating a unified brand for Nigeria, she stated, “we are working tirelessly to create a unified brand identity for Nigeria as a top investment destination. With the media’s support, we can craft compelling narratives that highlight our successes, heritage, and the enviable potential that Nigeria offers to investors. This will support our mission to position Nigeria as a global economic powerhouse”.