Independent NG
The Nigerian Investment Promotion Commission(NIPC) has announced that it would focus attention in the mobilisation of about N348.7 trillion capital requirement for the implementation of the National Development Plan(NDP) 2021-2025 over the next five years.
Mr. Emeka Offor, Acting Executive Secretary of NIPC, stated this on Wednesday in Abuja at the first quarter of 2022 media parley in Abuja.
Offor explained that the work for NIPC in the next five years has been appropriately defined by the National Development Plan 2021 – 2022 (NDP), adding that the Plan has projected a capital requirement of N348.7 trillion with 86% (N298.3 trillion) expected to be provided by the private sector.
He said the mobilisation of this capital has become the focus of the Commission, as it has begun the process of validating the records of the investment announcements.
He added that the report from the exercise would give the Commission a further understanding of investors’ readiness to invest in Nigeria.
He said: “Further to setting an agenda for the Commission, we have begun the process of developing a strategic plan with a focus on the NDP sectors.
“Critical to this strategy is the profiling of the opportunities in each State as well as sustaining the engagements with the sub-national governments.
“We would continue to build on past successes while we chart new paths for sustainable development of the capacity of staff of the State Investment Promotion Agencies while also stimulating healthy competition for investments across the regions and the States.
“We would leverage on our relationships with the Executive of the States to ensure sustained appreciation of the issues of the business environment with the understanding that the aggregation of the sub-national perception forms the national image, and also expand the coverage of Nigerian Investment Certification Programme for States (NICPS).
“During the period, we would aim at completing the reform process we initiated on the process and administrative framework of the Pioneer Status Incentive under the Industrial Development (Income Tax Relief) Act…
