By Victoria Ojeme & Princess Owoh
ABUJA- The Nigerian Investment Promotion Commission (NIPC) launched an investment directory and an investors submit among others aimed at boosting foreign direct investments (fdi) in the country.
Foreign Direct Investments
The NIPC Executive Secretary, Yewande Sadiku disclosed this in Abuja at a media conference adding that the organisation was poised at transforming the economic fortunes of the country.
She said the other initiatives include the iGuide Nigeria, Compendium of Investment Incentives in Nigeria, Daily NIPC Intelligence Newsletter and report on investment announcement in 2018.
Others are- investment Opportunities Profiling, Direct Investors Summit Nigeria (DISN) 2018, Nigerian Investment Certification Programmes for States (NICPS), Country-Focused Investment Promotion Strategy, Pioneer Status Incentive (PSI), Reforms, International Investment Agreement/Bilateral Investment Treaties Reforms, a revamped website and One Stop Investment Centre (OSIC) Lab.
According to Sadiku, the commission has moved from a reactive to proactive position in fulfilling its mandate.
On the investment incentives, She explained that it is an easy online investment guide that provides investors with up to date and pertinent information on the processes, procedures and basic cost of doing business in Nigeria and provides information on starting business, labour, production factors, land, taxes, investors rights, growth sectors and opportunities.
“To compile fiscal incentives in Nigeria, tax laws and duly approved sectors, specific incentives and has six principal sections that deals with the investment policies and protections; general tax-based incentives, and sector-specific incentives,” she stated.
Sadiku noted that “the E-Newsletter initiative was meant to show Nigeria as an investment destination of choice, disseminate information on government’s investment climate reform activities, showcase investment opportunities and share information on the commission activities.”
Explaining the rationale behind the Nigerian Investment certification programme for states NICPS, the Executive Secretary pointed out that the initiative was meant for states to provide complete, accurate and relevant information about investment opportunities in their areas to investors and to provide the state’s ability to offer sites and buildings that meet targeted investors need in a transparent and efficient manner and to offer professional levels of service to potential and existing investors.
She outlined the commission’s strategic plans for 2019 thus; developing an e-business facilitation platform, re-launching of OSIC, undertake investment impact assessment, incentives impact assessment develop facilitation databases, targeted investment promotion, proactive aftercare to the top 100 companies, strengthening zonal presence, establishing an investment promotion club, strengthening the Freedom of Information Act, disclosure and proactive investment promotion strategies