NIPC and the Islamic Development Bank (IsDB) have signed a Letter of Intent to partner on unlocking Nigeria's investment promotion potential to attract greater flows of Foreign Direct Investment. The signing took place on 24 October 2022, with NIPC's Executive Secretary Hajiya Saratu Umar and IsDB Vice President Dr Mansur Muhtar signing in the presence of the Honourable Minister of Finance Mrs Zainab Ahmed and IsDB President H.E. Dr Muhammad Al Jasser.
The partnership framework includes coordination mechanisms between NIPC and sub-regional investment promotion agencies, training and familiarisation programmes, joint meetings and knowledge-sharing exchanges, and hosting of other IsDB member countries in exchange programmes. The agreement forms part of IsDB's Investment Promotion Technical Assistance Program (ITAP), aimed at unlocking the developmental potential of its 57 member countries.
IsDB is a multilateral development finance institution focused on Islamic finance for infrastructure development, headquartered in Jeddah, Saudi Arabia. Nigeria is the Bank's 4th largest shareholder.
