How far can NPIC go in attracting FDI to Nigeria? By Sunday Oyinloye

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In President Bola Ahmed Tinubu's Inaugural Speech in May 2023, the Government of Nigeria reaffirmed its commitment to positioning the country as one of the world's top 20 economies

projection, Nigeria’s population will be nearly 400 million by the year 2050. Again, UN estimates that five of the eight countries that are expected to make up half of the world’s population growth over the next 27years to be in Africa.

Recognising the importance of domestic and foreign investment, the government aims to focus on implementing practical measures involving incremental legislative, regulatory and policy reforms designed to remove all inhibitions undermining the flow of investment into the economy and for Nigeria to get full benefits of domestic and foreign investments thereby, tackling unemployment, rapid development of infrastructure, attract modern technology and generally foster economic growth.

According to investment experts, to make the new administration meet its target of economic transformation, there is need to properly prepare, equip and empower NIPC to frontally align its investment promotion strategies in line with the PAC Report and other priority programmes of the Federal Government.

To further key into the economic vision of the President, the management has ensured better collaboration with other agencies and parastatals of the government that are involved in attracting investments to the country. The Commission has been engaging state governments, MDAs, organized private sector, diplomatic community and the media through its stakeholder’s engagement strategy to sensitize them in line with its coordinating mandate.

 

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