The 'RIBS' philosophy — Responsible, Inclusive, Balanced and Sustainable investment — will continue to underpin NIPC's approach to investment promotion. Mr Emeka Offor, Acting Executive Secretary/CEO, gave this assurance while speaking on 'Investment Promotion and Economic Development in Nigeria'.
Despite the challenges of the COVID-19 pandemic, which led to a contraction in Foreign Direct Investment globally, Nigeria witnessed a slight 3% increase in FDI inflows — a base from which further improvement is expected as economic activities resume. NIPC continued engaging stakeholders through virtual platforms throughout the pandemic, providing information on investment opportunities in the country.
To embed the RIBS philosophy more deeply, NIPC has been working with critical government agencies including the Bureau of Public Enterprises (BPE). The Commission has also maintained strategic engagements with the Nigerian Governors' Forum (NGF) and the Nigeria Economic Summit Group (NESG) to drive investment promotion at the subnational level — contributing to the creation of state investment promotion offices that work closely with NIPC to attract domestic and foreign capital.
Mr Offor also highlighted the One-Stop Investment Centre Lab (OSIC-Lab) as a platform to resolve investor-related issues, reaffirming NIPC's commitment to a friendlier business environment and to leveraging trade chambers and investment groups for wider advocacy.
