In the previous post emerging markets the Ashay Mervyn blog provided an overview of what the NIPC (Nigerian Investment Promotion Commission) is all about. Here and in the attached PDF document we will now explore in more detail the work of the Commission and the various ways in which it supports investors and markets attractive investment opportunities within the country.
The NIPC participates in a range of promotional activities to market investment opportunities and to stimulate investors in a variety of ways. These include exhibitions, seminars and conferences and using effective promotional means to promote investments both within the country and overseas.
Investment Support Services
The NIPC supports all investors pre and post-investment as well as during the lifecycle of each investment. This support includes monitoring and offering guidance and information, effectively co-ordinating investments to boost returns, supporting and initiating measures that enhance the overall investment climate of the country, acting as a liaison between private investors and organisations such as the government, lending institutes and other authorities and providing and disseminating up-to-the-minute information for investors in terms of incentives. The NIPC also registers all businesses to which the NIPC Act legislation applies and keeps records of these enterprises.
Evaluation and Sourcing
As a one-stop-shop for Nigerian investment, the NIPC performs a range of evaluation services to ensure investors are kept informed of all relevant information. This includes identifying specific projects and matching them to the investor profile best suited, inviting those investors to participate. It also includes the collection of information regarding investment opportunities and potential sources of capital as well as advising on the suitability, chance or availability of partners for any joint-venture projects. The impact of the NIPC itself is also evaluated and additional remedies and appropriate incentives are suggested to boost investment in Nigeria.
Nigeria is the 8th largest exporter and 12th largest producer of oil and petroleum products in the world and has long attracted foreign investment within the oil sector. The NIPC is now working to diversify overseas investment into the critical non-oil sector. Industries that the NIPC work with include agriculture, communications, financial services, manufacturing, mining, oil and gas, pharmaceuticals, power, privatisation, solid minerals, textile and apparels and tourism. Natural resources within Nigeria are plentiful and include minerals such as coal and tin, agricultural products such as sugar cane, palm oil and groundnuts and arable land as well as one of the largest proven reserves of natural gas and petroleum.
The services of the NIPC are designed to smooth the pathway for investors in a wide variety of ways and to offer a fully co-ordinated and streamlined investment journey with full support every step of the way.