The Nigerian Investment Promotion Commission (NIPC) is a specialized agency of the Federal Government of Nigeria, established through the Nigerian Investment Promotion Act Chapter N117 of 2004. It is aimed at encouraging, promoting, and coordinating all investments in Nigeria. The Federal Government of Nigeria, has tasked the investment promotion agency with attracting
Foreign Direct Investment
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct co ...
(FDI) over the years.
Origin
The Nigerian Investment Promotion Commission was established by the
United Nations Conference on Trade and Development
The United Nations Conference on Trade and Development (UNCTAD) is an intergovernmental organization within the United Nations Secretariat that promotes the interests of developing countries in world trade. It was established in 1964 by the ...
through Chapter N117 of the Nigerian Investment Promotion Act of 1995, and later became a specialized agency of the Federal Government of Nigeria through Chapter N117 of the Nigerian Investment Promotion Act of 2004 by the former
President of Nigeria
The president of the Federal Republic of Nigeria is the head of state and head of government of the Federal Republic of Nigeria. The president directs the executive branch of the federal government and is the commander-in-chief of the Niger ...
investment
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In finance, the purpose of investing i ...
climate
Climate is the long-term weather pattern in an area, typically averaged over 30 years. More rigorously, it is the mean and variability of meteorological variables over a time spanning from months to millions of years. Some of the meteorologic ...
, attract
foreign investments
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct co ...
and deviate from
oil
An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...
as the major growth rate of the
Nigerian economy
The Economy of Nigeria is a middle-income, mixed economy and emerging market with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. It is ranked as the 27th-largest economy in the world in term ...
. The then President appointed his former Minister for Commerce, Engr.
Mustapha Bello
Mustafa Bello Mbfsed.com. Retrieved on 2014-04-01. (born 31 January 1954) was appointed
Mustapha Bello
Mustafa Bello Mbfsed.com. Retrieved on 2014-04-01. (born 31 January 1954) was appointed
Saratu Altine Umar. The organogram of the Commission has seven specialized departments — Finance & Administration, Investment Promotion, Investor Relations, Human Resources, Policy Advocacy, States Coordination and Strategic Communications. The Commission was structured to consist of North-Central, North-East, North-West, South-East and South-West Zonal offices to work with sub-national state investment agencies in the coordinating and further actualization of the Federal Government’s mandate.
Leadership
Aisha Rimi is the
Executive Secretary
Secretary is a title often used in organizations to indicate a person having a certain amount of authority, power, or importance in the organization. Secretaries announce important events and communicate to the organization. The term is derived ...
/
Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
of the Nigerian Investment Promotion Commission (NIPC). Prior to her appointment, Emeka Offor was the Commission's Acting Executive Secretary.
Yewande Sadiku
Yewande Sadiku (born 27 July 1972) is a Nigerian investment banker and former public servant. She was the executive secretary and CEO of the Nigerian Investment Promotion Commission from 8 November 2016 to 24 September 2021.
Education
In 1992, ...
was the executive secretary and CEO from 8 November 2016 to 24 September 2021. In 2015, the former President Goodluck Ebele Jonathan relieved the appointment of Saratu Altine Umar.
Organisational structure
The Commission’s Governing Council is chaired by Rt. Hon. Dr Babangida S.M. Nguroje OFR. The Executive Secretary’s office is headed by Saratu Umar. The organogram of the Commission has seven specialised departments — Finance & Administration, Investment Promotion,
Investor Relations
Investor relations (IR) is a strategic management responsibility that is capable of integrating finance, communication, marketing and securities law compliance to enable the most effective two-way communication between a company, the financial com ...
,
Human Resources
Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include m ...
, Policy Advocacy, States Coordination and Strategic Communications.
Furthermore, the Commission was structured to consist of North-Central, North-East, North-West, South-East and South-West Zonal offices to work with sub-national state investment agencies in the coordinating and further actualisation of the Federal Government’s mandate.