The Executive Secretary/CEO of NIPC, Ms Yewande Sadiku, granted an in-depth interview to Premium Times on the Commission's work to grow Nigeria's foreign direct investment (FDI), the impact of COVID-19 on global investment flows, and NIPC's strategic priorities. The following covers the key themes from that interview.
On COVID-19 and global FDI, Ms Sadiku noted that NIPC had advised the government to expect a 30–40% decline in FDI for 2020–2021, based on UNCTAD research. In fact, FDI fell globally by approximately 49% in the first half of the year — slightly worse than projected. She explained that NIPC's mandate is one of advocacy and policy engagement: the Commission encourages, promotes, and coordinates investments, but does not "secure" them by itself. Policies are set by ministries and incentives are created by different government organs; NIPC's role is to help government understand the impact of these policies on investment.
On the importance of domestic investment, Ms Sadiku said COVID-19 had demonstrated the dangers of concentrating manufacturing capacity in one country or region and of relying on others for basic goods and services. 'Like every country, we want foreign investment. But we also want a large quantum of domestic investment — we want Nigerians to invest in their own country,' she said. Countries need to react to the decline in FDI the same way they react to declining economic growth, by diversifying sources of capital and stimulating local investment.
On Nigeria's competitive position, Ms Sadiku stated that as global FDI continues to decline, countries are competing intensely for a shrinking pool of investment capital. Nigeria needs a more collaborative, cohesive, and coherent approach — across all tiers of government — to present itself as a credible investment destination. She highlighted the importance of data: 'If you don't have data, you cannot advise government appropriately on how to attract investment.' NIPC's Intelligence Newsletter, published six days a week, is central to this, tracking investment announcements across Nigeria.
On NIPC's Book of States initiative, she described it as a practical tool to ensure that investors understand the breadth of opportunities across all 36 states and the FCT — not just in Lagos and Abuja. The publication, developed with the Nigeria Governors' Forum (NGF), presents each state's competitive advantages and key investment opportunities in an accessible format. Ms Sadiku sees the Book of States as the beginning of a broader programme of subnational investment promotion, with further initiatives planned to elevate the visibility of each state's investment prospects.
