Saratu Umar, the newly appointed executive secretary of the Nigerian Investment Promotion Commission (NIPC), has assumed office with a pledge to make Nigeria a preferred destination for investors.
President Muhammadu Buhari recently appointed Umar as the executive secretary/CEO of NIPC, after she was relieved of the post by former President Goodluck Jonathan in 2015. She was allegedly removed as the NIPC boss for leaking information on the granting of questionable tax waivers worth $20 billion.
Addressing the NIPC staff at the headquarters in Abuja, Umar said she was committed to excellence, accountability and professionalism, saying anything short of a world-class investment promotion agency is “simply not acceptable.”
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According to her, “NIPC should be an African Industry Leader at the forefront of the investment ecosystem, and it should play a central role in our national development, as contemplated by its Act.
“I reiterate that NIPC will be a strong public institution, with a private sector orientation that delivers effective and efficient services that exceed the expectations of all stakeholders in the investment ecosystem and indeed, in Nigeria.”
The ES noted that global Foreign Direct Investment (FDI) markets have over the last decade become more competitive, and the investment promotion thrust of countries that are attracting the largest global market share of FDI inflows are driven by effective, efficient, and performance-driven Investment Promotion Agencies.
“We are on the cusp of history, my dear colleagues, and Nigeria needs an NIPC that will maximally deliver on its mandate. We must keep this reality at the core of our focus, as we forge ahead,” she said.
