NIPC Attracts N286bn Investments, Creates 5,559 Jobs
By Patience Ikpeme
The Nigerian Investment Promotion Commission (NIPC) has disclosed that 37 companies invested N286 billion across various sectors of the economy during the third quarter of 2024. This development led to the creation of 5,559 jobs, according to the Head of the Incentive Administration Department, Lovina Kayode, who made the disclosure during the Commission’s scorecard presentation to the media in Abuja.
Kayode stated that the NIPC has embraced a technology transfer model to enhance its operations, making it more efficient and accessible to stakeholders. She noted that the Commission has prioritized granting incentives to encourage companies to establish their presence in rural areas, fostering economic inclusion and regional development.
In a bid to further enhance its capabilities, the NIPC has signed a Memorandum of Understanding (MoU) with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) for capacity-building and technical support. This collaboration focuses on improving the investment environment in Nigeria, particularly in the SEDIN partner states of Niger, Plateau, Ogun, Edo, and Lagos.
The initiative aims to strengthen the institutional framework and capacity of Investment Promotion Agencies (IPAs) to effectively promote and attract quality domestic and foreign direct investments. This aligns with the Commission’s broader goal of driving sustainable economic growth, supporting MSMEs, and creating employment opportunities.
Speaking at the event, NIPC Executive Secretary/CEO, Ms. Aisha Rimi, reaffirmed the Commission’s commitment to launching initiatives that accelerate Nigeria’s economic progress. She emphasized that these initiatives align with the federal government’s eight-point agenda designed to stimulate growth across sectors.
On innovation and technology investments, Rimi revealed that the Commission is strategizing to position Nigeria as a hub for fintech, agri-tech, and renewable energy investments. “We will advocate for incentives that attract tech-based companies looking to establish operations in Nigeria,” she said.
She further stated that the Commission is prioritizing eco-friendly projects aligned with sustainable development goals (SDGs) to attract global investors who value sustainability.
In addition to attracting new investments, the NIPC is also focused on retaining existing investors by promptly addressing their concerns. Rimi highlighted that this aligns with President Bola Tinubu’s vision of stabilizing the economy and improving Nigeria’s global competitiveness.
The Commission has adopted a robust Investor Relations strategy to maintain open communication channels with businesses 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,” Rimi added.
Rimi assured the media of continued collaboration to promote the Commission’s activities and achieve shared goals for national development. “We recognize the media as a vital partner in achieving better outcomes for the good of the country,” she said.
The NIPC’s achievements in the third quarter of 2024 underscore its pivotal role in driving economic growth through strategic investments, partnerships, and innovative approaches to investor relations and promotion.
