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Interview:
Corporate Nigeria (CN) talks to
Engr Mustafa Bello (FSNE), Former Executive Secretary/CEO
Nigerian Investment Promotion Commission (NIPC)
Dedication and Commitment have Eased-Up Bottlenecks and made a Significant Difference
CN: The Nigerian Investment Promotion Commission (NIPC) is a government agency established in 1995 to promote, coordinate and monitor investments in Nigeria. What is NIPC’s mission, and what steps has it made towards fulfilling it?
Mr Mustafa Bello: Our mission is to proactively Position and Promote Nigeria as the Preferred Investment destination. To transform Nigeria into the preferred Investment Haven entails taking a holistic look at the entire investment climate, first as perceived by the global investment community and secondly as it really exists and attempting to address the challenges posed by both legal, regulatory as well as the infrastructural related constraints that will make realizing this mission feasible and erasing the wrong perceptions held by the global community, creating the right environment through creation of Sector-Specific Investor-Friendly Investment Policies. NIPC has alraedy initiated a process of developing the Sector-Specific Investor-Friendly Investment Policies with the assistance of the World Bank and other Multilateral Agencies. We are modeling our new Investment policies on the Malaysian MIDA Sector Policy document customized to suite attaining our 2020-20 Vision of President Umaru Musa ‘Yar Adua.
The One Stop Investment Centre (OSIC) is administered by the NIPC.
What are its activities, and what services does OSIC offer to investors?
I want to believe here that you are referring to the objectives rather than activities which are to first address complete removal of bureaucratic bottlenecks and red tapes in the conduct of Government affairs. The Objectives of the Centre are as follows:
– To substantially reduce the cost of entry into doing business in Nigeria.
– To simplify procedural steps for obtaining business approvals.
– To shorten service delivery time without undermining the policy objectives of the participating Agencies/Ministries.
– To ensure transparency.
– To provide Investment Information and Advice to Investors promptly.
– To fast- track public sector reform that will result in more attractive business environment.
– To maintain a close and professional working relationship among government Agencies/Ministries in support of investors.
The Center (OSIC) offers range of Services to Investors as follows:
– General Information and data on the Nigerian economy to facilitate informed investment decisions.
– Prompt granting of business entry approvals, permits and authorization to enable investors to set up an investment project.
– Facilitates post-entry approvals, licences and sector-specific permits with statutory government agencies with extant regulatory mandate.
– General facilitation with all government agencies in respect of investment projects on behalf of investors.
– General advisory services on unlimited and profitable investment opportunities in Nigeria including matching investors’ requirements with opportunities available in Nigeria’s 36 States and FCT.
