By Usman Aliyu
The Nigerian Investment Promotion Commission (NIPC) has called on sub-national governments to step up their roles in attracting and retaining investments.
According to the NIPC, this is a strategy to diversify Nigeria’s economy and restore investor confidence.
Ms Aisha Rimi, the Executive Secretary/CEO of NIPC, made the call on Monday in Benin, while speaking at a high-level stakeholder engagement with State Investment Promotion Agencies (SIPAs).
Rimi said that both domestic and foreign investments were critical to Nigeria’s economic recovery.
”Nigeria urgently needs to diversify its economy. We must industrialise, create jobs for our youthful population, grow what we eat, and develop our infrastructure.
“The answer is investment and the states are at the heart of this,” she told the stakeholders.
The NIPC boss noted that Nigeria’s investment drive would only succeed if states adopt proactive strategies and prioritise investors’ satisfaction, especially from local businesses, which she called “your biggest ambassadors.”
”The most powerful promotion is word of mouth. If your local investors are frustrated, that message spreads fast,” she said.
Rimi announced a new commission-led investment certification programme for states, designed to replicate its one-stop investment centre model at the sub-national level.
“Investors demand clarity, transparency, and ease of doing business. Our programme helps states build that ecosystem,” she explained.
She also said that competition among states could be a healthy force, but only if backed by capacity and credible investment data.
”We have had situations where states were sold based on potential but couldn’t back it up. Investors are smart, they do their homework,” she said.
She however, praised the formation of the Forum of State Investment Promotion Agencies of Nigeria (FoSIPAN) as a key platform to harmonise state efforts and avoid duplication.
According to her, “FoSIPAN gives SIPAs a voice and a structure to work together for national growth.”
Declaring the meeting open, Gov. Monday Okpebholo of Edo, lauded the commission for selecting the state to host, as well as spotlight it as a model of reform.
Okpebholo highlighted his administration’s drive to remove investment bottlenecks and improve the state’s business climate through legal and institutional reforms.
”We are building a foundation for investment-led growth. From our One-Stop Investment Centre to land reform under the Framework for Responsible and Inclusive Land-Intensive Agricultural Investment (FRILIA) framework, we are making it easier for businesses to start and scale,” he said.
The governor noted that security remained a top priority, with recent amendments to anti-kidnapping and anti-cultism laws aimed at protecting investments and lives under his SHINE (Security, Health, Infrastructure, Natural Resources and Agriculture, and Education) Agenda.
Earlier in his opening remarks, Mr Amen Odigie, Managing Director of the Edo State Investment Promotion Office (ESIPO), said Edo was committed to “turning talk into action,” by leveraging the state’s strategic location, cultural heritage, and investor-focused reforms.
“Our goal is not just to attract capital, but to retain it and help it grow. We’re targeting agriculture, digital innovation, solid minerals, and tourism as key sectors for economic expansion,” he said.
The News Agency of Nigeria (NAN) reports that discussions at the forum focused on building technical capacity, addressing investment bottlenecks, and fostering investor-friendly environments tailored to each state’s comparative advantage.
The forum, themed “Strengthening Capacity, Promoting Collaboration, and Diversifying Nigeria’s Economy,” brought together government officials, SIPA heads, private sector players, and development partners committed to aligning strategies for transforming the country’s investment landscape. (NAN) (www.nannews.ng)