The Nigerian Investment Promotion Commission (NIPC) and the German government through its (GIZ)-SEDIN programme have entered into a two-year agreement to enhance Nigeria’s investment climate at both national and sub-national levels.
The collaboration aims to provide NIPC with technical support in several key areas, including capacity building in investment facilitation and promotion, organization of the National Conference on Investment for States (NCIS), review of the Compendium of Investment Incentives, and facilitating linkages between micro, small, and medium enterprises (MSMEs) and investors.
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In his remarks, Markus Wauschkuhn, head, of the SEDIN-GIZ program said that the partnership will foster a more robust investment climate in Nigeria. He added that the support provided will also extend to developing a framework for the franchising industry in Nigeria, building the capacities of partner State Investment Promotion Agencies (IPAs), standardizing state-based incentives, peer learning, and enhancing aftercare services.
“A significant aspect of this collaboration is the development and implementation of a national strategy and policy for upscaling inclusive business models in Nigeria,” he said.
Wauschkuhn also noted that the partnership will bolster linkages and knowledge sharing between states and the federal government regarding investment climate improvement efforts. NCIS according to him will serve as a platform for policy engagements, facilitating discussions and initiatives to improve Nigeria’s investment landscape.
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Aisha Rimi, the executive secretary of NIPC said, “The signing of this MoU today is very important and we will set up a working group that will also serve as an implementation committee. We are confident that this is just the beginning of a long, cordial, and fruitful working relationship,”
She added that both organizations will work jointly to package information on investment incentives across Nigeria and strengthen the subnational investment promotion infrastructure. A continuous rollout of the Nigerian Investment Certification Programme for States (NICPS) across all 36 States is also planned.
