Thirty-seven firms staked investments worth N286 billion across various sectors of the country’s economy in the third quarter of 2024.
The Head of the Incentive Administration Department, Nigerian Investment Promotion Commission ( NIPC) Lovina Kayode confirmed the figure over the weekend in Abuja.
According to her, during the same period, NIPC generated 5,559 jobs from pioneer status incentives.
The occasion was a presentation commission’s scorecard at NIPC media Parley. She said the commission embraced the technology transfer model in running its operation thus, making it more vibrant and acceptable by stakeholders for easy access to investments.
Incentives, ES said had been granted to allow companies to establish their presence in rural areas.
Meanwhile, the Commission has entered into an MoU with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) for capacity-building and technical support.
The duo are working together to implement targeted measures to improve the investment environment in Nigeria and in particular, in the SEDIN partner States of Niger, Plateau, Ogun, Edo, and Lagos.
The initiative is aimed at improving the institutional framework and capacity of Investment Promotion Agencies (IPAs) for effective promotion, facilitation and attraction of quality Domestic Direct Investment (DDI) and Foreign Direct Investment (FDI) for sustainable economic growth, MSMEs development and increased income and employment.
Earlier in her address, the NIPC Executive Secretary/ Chief Executive Officer, Ms Aisha Rimi restated the NIPC’s commitment to launch several initiatives aimed at driving further economic growth through investment.
According to her, such initiatives align with the 8-point agenda design to accelerate the nation’s progress across sectors
On innovation and technology Investments she said, “We are strategizing to position Nigeria as a hub for innovation and technology Investments by producing 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”
She stated that recognizing the global shift towards sustainable investment,” We are prioritizing eco-friendly projects that contribute to sustainable development goals”, among others
She gave the assurance to continue to collaborate with the media to achieve better for the good of the country.
On what was being done by the Commission to retain investment apart from retaining existing ones, explained: ” 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”.
The ES said the commission adopts 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”, she said.
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