NIPC working on Nigeria investment masterplan

The Nigerian Investment Promotion Commission (NIPC) has set its sights on developing an investment masterplan that aims to revolutionize investment and development plans for both the federal and state governments. In an exclusive interview with CNBC Africa's Akin Obakeye, NIPC CEO Saratu Umar revealed that the commission is actively working to strengthen relationships with states to provide greater clarity on investment opportunities. The NIPC's strategic move comes amidst a backdrop of increasing investor interest in Nigeria, as the government's commitment to enhancing the investment environment continues to yield positive results. One of the key themes highlighted in the interview is the pivotal role that state governments play in shaping NIPC's approach to attracting and monitoring investments. Umar emphasized that the proactive stance taken by several states in fostering an investment-friendly climate has significantly facilitated the commission's work. By aligning with states that prioritize investment promotion, NIPC can streamline its efforts and work collaboratively towards achieving common goals. This coordinated approach not only simplifies the investment process but also enables the commission to gather real-time data on investment trends and opportunities. Furthermore, Umar underscored the importance of NIPC's mandate in promoting, coordinating, and encouraging investments across Nigeria's diverse economy. The commission's investment masterplan aims to consolidate various federal and state government development initiatives, encompassing national development plans, infrastructure integrated master plans, and sector-specific strategies. By integrating state-level investment requirements into a cohesive national framework, NIPC seeks to attract a broad spectrum of international investors interested in diverse sectors such as agriculture, solid minerals, and infrastructure. The ultimate goal is to reduce the country's dependence on debt financing by channeling investments into critical sectors, thereby fostering sustainable economic growth. In evaluating the long-term implications of NIPC's ambitious masterplan, Umar acknowledged that the strategic vision transcends short-term objectives and is designed to shape Nigeria's economic landscape for years to come. By steering investments towards infrastructure projects through innovative financing models like public-private partnerships (PPPs), NIPC aims to create a sustainable revenue stream that reduces the government's reliance on borrowing. Additionally, by promoting export-oriented industries and import substitution, the masterplan seeks to bolster Nigeria's foreign exchange reserves and enhance domestic production capacity. As NIPC embarks on this transformative journey, the commission remains steadfast in its commitment to positioning Nigeria as a premier investment destination on the global stage. With a comprehensive investment masterplan that integrates federal and state priorities, NIPC is poised to catalyze sustainable economic development and propel Nigeria towards a prosperous and resilient future.