Nigerian Investment Promotion Commission

In December 2003, NIPC was established under the Nigerian Investment Promotion Bill, which eventually became an Act in 2004, with a view to enhance Nigeria’s investment climate, attract foreign investments and deviate from oil as the major growth rate of the Nigerian economy. Nigerian President, Olusegun Aremu Obasanjo appointed a former Minister for Commerce, Mustapha Bello as the pioneer Executive Secretary/CEO of the Commission,[2] as well as Felix Ohiwerei, as the Chair of the Governing Board.[3]

NIPC has a Governing council that comprises a Chairman, four independent members, the Executive Secretary/CEOs' permanent secretaries of seven ministries including; Federal Ministry of Industry, Trade and Investment; Federal Ministry of Information and Culture, Federal Ministry of Finance, Federal Ministry of Budget and National Planning, Federal Ministry of Foreign Affairs, Federal Ministry of Interior, Federal Ministry of Petroleum, Governor, Central Bank of Nigeria and six members from the private sector.[4]

The Commission’s Governing Council is chaired by Rt. Hon. Dr Babangida S.M. Nguroje OFR.[5] The Executive Secretary of the Commission is Yewande Sadiku.[6] The organogram of the Commission has seven specialized departments — Finance & Administration, Investment Promotion, Investor Relations, Human Resources, Policy Advocacy, States Coordination and Strategic Communications. The Commission was structured to consist of North-Central, North-East, North-West, South-East and South-West Zonal offices to work with sub-national state investment agencies in the coordinating and further actualization of the Federal Government’s mandate.