NIPC's mandate to promote, coordinate and monitor all investments in Nigeria is underpinned by an extensive and growing database of investment data — one that State Investment Promotion Agencies (IPAs) can leverage to improve their investment promotion effectiveness.
A recent survey conducted by NIPC found that 26 states (72%) have a functional IPA with a dedicated mandate to promote investments; six states (17%) have the function situated within a ministry; and four states (11%) place it within government more generally. NIPC's Executive Secretary/CEO, Ms Yewande Sadiku, has urged state governments to establish functional IPAs backed by legal instruments, noting that doing so would provide NIPC with a structured network of counterparts to enhance working relationships and deepen subnational investment support.
NIPC has developed a standard web-based template for profiling investment opportunities and managing collected information through an intelligent modern database. The template captures key features of any investment prospect and the economic impact of its actualisation. The Department of Investment Promotion, working with Strategic Communications, is developing an investor-tracking mechanism to follow up on announced investments and facilitate their conversion to actual investment flows.
According to the Commission, the sectors attracting the highest investment interest in the states include agriculture, manufacturing, education, solid minerals development, and real estate. NIPC continues to encourage states to tap its resources — including the OSIC, the OSIC Lab, and the Single Window Investors' Portal (SWIP) — to improve their capacity for investment promotion and aftercare.
