The Nigerian Investment Promotion Commission (NIPC) is Federal Government Agency in Nigeria established by the NIPC Act N0. 16 of 1995 to promote, co-ordinate and monitor all investments in Nigeria. The basic functions and powers of the NIPC are as prescribed by Act 16 of 1995. The Commission has perpetual succession and a common seal, which is specially established, among other things, to:
- Co-ordinate, monitor, encourage and provide necessary assistance and guidance for the establishment and operation of enterprises in Nigeria;
- Initiate and support measures which shall enhance the investment climate in Nigeria for both Nigerian and non-Nigerian investors;
- Promote investments in and outside Nigeria through effective promotional means;
- Collect, collate, analyse and disseminate information about investment opportunities and sources of investment capital and advise on request, the availability, chance or suitability of partners in joint-venture projects;
- Register and keep records of all enterprises to which the NIPC Act legislation applies;
- Identify specific projects and invite interested investors for participation in those projects;
- Initiate, organise and participate in promotional activities such as exhibitions, conferences and seminars for the stimulation of investments;
- Maintain liaison between investors and Ministries, government departments and agencies, institutional lenders and other authorities concerned with investments;
- Provide and disseminate up-to-date information on incentives available to investors;
- Assist incoming and existing investors by providing support services;
- Evaluate the impact of the Commission on investment in Nigeria and recommend appropriate remedies and additional incentives;
- Advise the Federal Government on policy matters, including fiscal measures designed to promote the industrialisation of Nigeria or the general development of the economy; and Perform such other functions as are supplementary or incidental to the attainment of the objectives of NIPC Act.
1.0. DIRECTORATE OF THE OFFICE OF THE EXECUTIVE SECRETARY:
The Department undertakes the overall coordination of the activities of the various Divisions and Units in the Executive Secretary’s Office to ensure that goals and objectives are met.
FUNCTIONS:
- Develop detailed strategies and work plan for the Commission, and monitor performance of the plans to ensure a vibrant and proactive culture of excellence in service delivery that enhances the Commission’s effectiveness in investment promotion and facilitation.
- Develop long-range (strategic) plans that will properly position the Commission’s present and future state
- Coordinates with National Planning Commission, and other relevant agencies (MDAs), to make sure that the Commission’s plans are in line with government’s thrust and objectives, among other functions
The Directorate oversees the following Units:
- STRATEGIC PLANNING UNIT
- MONITORING AND EVALUATION
- MEDIA AND PUBLICITY UNIT
- PROTOCOL UNIT
- INTER-GOVERNMENTAL AFFAIRS UNIT
- SYSTEMS MANAGEMENT UNIT
- SOFTWARE DEVELOPMENT AND MAINTENANCE UNIT
- LEGAL SERVICES UNIT
- INTERNAL AUDIT
- SECRET (CONFIDENTIAL) REGISTRY
- HONOURARY INTERNATIONAL INVESTORS’ COUNCIL (HIIC) SECRETARIAT
DEPARTMENT OF INVESTMENT FACILITATION AND INCENTIVES ADMINISTRATION (DIFIA):
The Department provides prompt, professional and accurate pre investment services to investors with the ultimate focus on allowing investment to flow efficiently and for the greatest benefit. The Department operates through two divisions including Investment Facilitation and Incentives Administration and also coordinates the activities of the One Stop Investment Centre (OSIC) as follows:
FUNCTIONS:
- Provide front-desk information on pre-investment and investment services offered by NIPC
- Provide relevant and up to date information as well as, support to prospective investors on investment facilitation services including locations, properties, infrastructure, utility requirements etc
- Work with relevant Ministries, Departments and Agencies (MDAs) and provide specialized advice on the processes of obtaining approvals, permits and licenses for incoming investments. Facilitation Division to handle cases for Investors seeking Licenses, Permits or Approval from MDAs not represented at the OSIC, among other functions.
ONE STOP INVESTMENT CENTRE (OSIC):
The One Stop Investment Centre (OSIC) coordinates and streamlines the processing and issuance of necessary business entry requirements by simplifying, shortening and clarifying administrative and regulatory requirements for entry into the economy. The Centre provides statistical data and information on the Nigerian economy, investment climate, legal and regulatory framework as well as sector and industry specific information to aid existing and prospective investors in making informed business decisions.
FUNCTIONS:
- Receive enquiries, process them and communicate feedback with minimal delay.
- Coordinate and streamline the processing and issuance of necessary business entry requirements;
- Provides statistical data and information on the Nigerian economy;
- Maintain and provide Investment Information to investors promptly.
- Provide quarterly and annual reports to Management.
- Simplify procedures for processing and obtaining business approvals.
- Shorten service delivery time without undermining the policy objectives of the participating Agencies/Ministries
- Ensure transparency and fairness in the dispensation of services.
- Fast -track public sector reforms that will result in a more attractive business environment.
DEPARTMENT OF NATIONAL COMPETITIVENESS AND POLICY ADVOCACY (DNC&PA):
The Department’s main responsibility is to advocate for improvement in Nigeria’s investment climate by proposing appropriate policy, legal and regulatory reforms conducive for investment to enhance Nigeria’s Competitiveness. Furthermore, the Department is to liaise with the bilateral, multilateral and plurilateral institutions in recognition of the increasing interdependence of national economies in a globalizing world and the emergence of rules-based regimes for international economic relations, to enable it achieve its mandates.
FUNCTIONS:
- study and analyse existing policies in the sectors, the objectives, thrust, responsibilities of tiers of government, problems and prospects, benchmark against international best practice; and make recommendations to government;
- Participate actively in National Councils’ meetings to advance the concerns of investors on the investment climate and advocate for intervention.
- Liaise with local and international agencies to benchmark the country’s competitiveness performance across a range of statistical indicators drawn from reputable organizations; among other functions.
DEPARTMENT OF OVERSEAS AND DOMESTIC OPERATIONS (DODO):
The Department is charged with the responsibility of carrying out investment promotion programmes including organizing and attending forums and missions both within and outside Nigeria, and developing strategies for changing the perception of the country as an investment destination in the emerging markets.
The Department operates through the following Divisions:
(a) Overseas Operations Division,
(b) Domestic Operations Division.
FUNCTIONS:
- Develop strategies to promote investment in Nigeria;
- Organize and participate in Investment forums, seminars, conferences and roadshows to showcase the investment potentials and present Nigeria as the destination in emerging markets;
- Target high net-worth investors (Nigerians and foreigners), transnational corporations (TNCs), and Nigerians in the Diaspora to invest in Nigeria; among other functions.
DEPARTMENT OF REAL SECTOR (DRS):
The Department handles all post investment services in the Real Sector; develop strategies for sustaining existing investment, while supporting their expansion and improvement as well as encouraging diversification. The Department operates through two Divisions:
- Project Development,
- Aftercare Services,
FUNCTIONS:
- Provide authentic and verifiable information on the sector and disseminate them in an acceptable manner to assist investors make informed decisions
- Prepare and maintain up to date database on foreign and domestic investors in the sector;
- Prepare a comprehensive investment profile of the sector to promote and market the potentials in the sector, among other functions.
DEPARTMENT OF INFRASTRUCTURE AND SERVICES SECTOR (DISS):
The Department will handle all post investment services in the Infrastructure and Services Sector; develop strategies for sustaining existing investment, while supporting their expansion and improvement as well as encouraging diversification. The Department operates through two Divisions:
- Project Development,
- Aftercare Services,
FUNCTIONS:
- Provide authentic and verifiable information on the sector and disseminate them in an acceptable manner to assist investors make informed decisions
- Prepare and maintain up to date database on foreign and domestic investors in the sector;
- Prepare a comprehensive investment profile of the sector to promote and market the potentials in the sector, among other functions.
DEPARTMENT OF FINANCE AND ADMINISTRATION:
The Department is responsible for the development and control of budgets, financial management and financial accounting. The Department operates through two Divisions:
- Finance,
- Administration:
FUNCTIONS:
- Ensure strict compliance with financial policies and procedures guiding the operations of the Commission and according to Financial Regulations.
- Coordinate the preparation of Annual Budget
- Establish management information requirements and ensure all financial information/analysis required by management are provided through appropriate medium and in a reader-friendly format, among other functions.
DEPARTMENT OF HUMAN RESOURCES:
The Department of Human Resources is responsible for staff recruitment, performance management, organization development, discipline, staff training and welfare, keeping of records of staff and policies, staff salary and benefits in the Commission. The Department operates through the following Divisions:
- Establishment;
- Staff Payroll & Pension.
FUNCTIONS
- Coordinate Human Resources functions including Payroll.
- Develop and implement human resource plan and ensure that they are in line with the Commission’s policy;
- Design adequate compensation and reward policy for staff; among other functions.
SOURCE: http://www.nipc.gov.ng/index.php/about-nipc.html.