NIPC urges foreign investors to adhere to relevant laws/procedures

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Abuja  –  Mrs Uju Hassan-Baba, the Executive Secretary, Nigerian Investment Promotion Commission (NIPC), on Thursday called on prospective foreign investors to adhere to relevant laws/procedures to avoid challenges in the country.

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Mrs Hassan-Baba told newsmen in Abuja that potential investors were required by the NIPC law to come in through the commission.

According to her, NIPC is the only agency of government charged with the responsibility of attracting, promoting and coordinating local and foreign investments in the country.

“My charge to all prospective investors is to endeavour to make the NIPC their first port of call because we are the clearing house for all investment-related matters in the country.

“There is a legal process for investment in Nigeria which begins with the NIPC. We are here to shepherd them through the process, including the regulatory channels.

”I am sure you are aware of the challenges many of them are facing as a result of bypassing the commission.

”They should avail themselves of our services because everything they need to operate smoothly is provided here.”

She said there was no need for prospective investors to physically visit other government agencies in trying to secure the needed licenses and registration documents.

According to her, the commission’s one-stop shop comprising desk officers from 26 relevant government agencies was on standby to take them through the whole process at once.

Hassan-Baba attributed the growing confidence of foreign investors in the country largely to the present administration’s change agenda.
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The executive secretary stated that President Muhammadu Buhari’s integrity and uncompromising stand against corruption was the major confidence booster.

She added that the positive feedback investors were getting concerning NIPC services was also a contributor.

Hassan-Baba, who could not immediately quantify the total foreign investments that had flowed into the country since the Buhari administration came on board, said the commission was compiling the record.

”We are in the process of compiling that record. It is now that investors are complying with the NIPC law by making the commission their first port of call.

“Some of them that came in since May 29 did not pass through the NIPC, but they later contacted us. So, we are just compiling those records”, she said. (NAN)

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