NIPC's Executive Secretary/CEO, Ms Yewande Sadiku, was a guest on Arise Xchange — the weekly global business programme of ARISE TV Networks — on 16 July 2020, where she discussed how the COVID-19 pandemic has affected Nigeria's investment strategy and the renewed focus on stimulating domestic investment.
Commenting on UNCTAD's forecast of a 30–40% decline in global FDI flows in 2020/2021, Ms Sadiku noted that "as the pandemic worsens and economies further contract, our projection remains that those UNCTAD figures will shrink even further." She pointed to NIPC's investment announcement data showing US$5.06 billion in the first half of 2020 — approximately one third of the corresponding period in 2019. The biggest new entrant investments in H1 2020 came from Kaduna, Nasarawa, and Ekiti states.
On the importance of tracking investment, she explained that "in the first half of 2020, NIPC tracked 33 projects across 15 states and the FCT, versus the first half of 2019 where the Commission tracked 43 projects in 10 states and the FCT. Our meticulous tracking gives the Commission an understanding of the sectors and sub-national areas that excite investors, and enables us to advise the government on policy changes required."
On her outlook, she expressed the belief that economies will be focused on investment-driven growth, with a renewed emphasis on domestic investment and impact investing. She noted particular optimism for fintech, e-commerce, and food processing, where consumer activity was increasing. She added that "continuous increase in domestic manufacturing capacity of essential and critical commodities" would be a defining feature of the post-pandemic recovery.
