ABOUT NIPC

The Nigerian Investment Promotion Commission (NIPC) is Federal Government Agency in Nigeria established by the NIPC Act N0. 16 of 1995 to promote, co-ordinate and monitor all investments in Nigeria. The basic functions and powers of the NIPC are as prescribed by Act 16 of 1995. The Commission has perpetual succession and a common seal, which is specially established, among other things, to:

(a) Co-ordinate, monitor, encourage and provide necessary assistance and guidance for the establishment and operation of enterprises in Nigeria ;

(b) Initiate and support measures which shall enhance the investment climate in Nigeria for both Nigerian and non-Nigerian investors;

(c) Promote investments in and outside Nigeria through effective promotional means;

(d) Collect, collate, analyse and disseminate information about investment opportunities and sources of investment capital and advise on request, the availability, chance or suitability of partners in joint-venture projects;

(e) Register and keep records of all enterprises to which the NIPC Act legislation applies;

(f) Identify specific projects and invite interested investors for participation in those projects;

(g) Initiate, organise and participate in promotional activities such as exhibitions, conferences and seminars for the stimulation of investments;

(h) Maintain liaison between investors and Ministries, government departments and agencies, institutional lenders and other authorities concerned with investments;

(i) Provide and disseminate up-to-date information on incentives available to investors;

(j) Assist incoming and existing investors by providing support services;

(k) Evaluate the impact of the Commission on investment in Nigeria and recommend appropriate remedies and additional incentives;

(1) Advise the Federal Government on policy matters, including fiscal measures designed to promote the industrialisation of Nigeria or the general development of the economy; and

(m) Perform such other functions as are supplementary or incidental to the attainment of the objectives of NIPC Act.

FUNCTIONS OF DEPARTMENTS/UNITS

One-Stop Investment Centre (OSIC)

The operations of the One Stop Investment Centre (OSIC) formally commenced with the official commissioning of the Centre by His Excellency, the President of the Federal Republic of Nigeria on Monday 20th March, 2006. The Centre is established by the Federal Government to march the growing interest of Investors in our economy.

The establishment of the Centre is a major public sector reform initiative based on investment facilitation mechanism, where relevant government Agencies and Ministries are brought to one location, coordinated and streamlined to provide efficient and transparent services to Investors. This is achieved by re-engineering Agencies’ processes, procedures and requirements for granting business entry permits, licenses and authorizations, making them simpler, shorter, transparent and responsive to the needs of the Investors.

Objectives of the Centre:

The objectives of the Centre (OSIC) include the following:
a. To substantially reduce the cost of entry into Business in Nigeria.
b. To simplify procedural steps for obtaining business approvals.
c. To shorten service delivery time without undermining the policy objectives of the participating Agencies/Ministries.
d. To ensure transparency.
e. To provide Investment Information and Advice to Investors promptly
f. To fast- track public sector reform that will result in more attractive business environment.
g. To maintain close and professional working relationship among government Agencies/Ministries in support of investors.

Participating Government Agencies:

Thirteen Agencies/Ministries pioneered the first phase of the Centre namely:

• Corporate Affairs Commission (CAC).
• Nigerian Immigration services (NIS).
• Nigerian Customs service (NCS)
• Federal Inland Revenue Service (FIRS).
• National Office for Technology Acquisition and Promotion (NOTAP).
• National Agency for Food and Drug Administration and Control (NAFDAC).
• Central Bank of Nigeria (CBN).
• National Bureau of Statistics (NBS).
• Federal Ministry of Solid Minerals. (FMSM).
• Federal Ministry of Finance (FMF).
• Standards Organisations of Nigeria (SON).
• Federal Capital Territory Abuja (FCTA)
• Nigerian Investment Promotion Commission (NIPC).

DEPARTMENT OF INVESTMENT PROMOTION

The Investment Promotion department was one of the core operational departments of NIPC. The mandate of the department is direct marketing i.e. targeting and encouraging investors to invest in Nigeria.

The objective was to project Nigeria as a safe country for investment, highlight investment opportunities and encourage target countries and groups outside Nigeria to invest in the economy.

Functions

This department has the following as its major functions:

• Investment Generation
• The department coordinates the Commission’s investment missions abroad i.e. Business and Investment Forums in different regions abroad.
• It initiates new investment projects and agreements.
• Identifies and periodically reviews viable investment and projects for promotion.
• Targets high net worth Nigerians for investment generation.

Image building

This is meant to improve Nigeria’s image globally. This comprises:
Campaigns to reduce investor’s worries, reverse the negative perceptions about corruption and personal safety and shall be done through the following:

• Media and public relations activities, projecting positive side of Nigeria.
• Advertisements
• Advisory Investment Council
• Newsletters/publications
• Reports and literature.

Courting multiplier persons/institutions who are not investors themselves but are agents who are in regular contact with potential investor. Some of the methods be used to attain these, include:

• The use of professional advisors e.g. consultants, agents or representatives, lawyers.
• Trade associations, chambers of commerce, commercial attachés.

DEPARTMENT OF INVESTOR RELATIONS.

The Department of Investor Relations (IR) provided pre-investment and after care services to prospective and existing investors.

The main objective of the Investor Relations Department include the provision of efficient support and after care services to prospective and existing investors and keep records of all foreign direct investment inflow into the country;

Functions

• Develop detailed strategies and work plans for the provision of proactive and responsive investor services;
• Build and maintain relationships with Nigerian embassies abroad and Commercial Counselors of foreign missions in Nigeria, to identify investor needs and facilitate site visits for prospective investor.
• Organise and participate in incoming investment missions, seminars and workshops;
• Identify and periodically review viable investment and business
• Coordinate all matchmaking services and arrange business meetings between local and international investors interested in forming joint ventures;
• Assist investors to locate in Nigeria- site selection analysis;
• Coordinate registration of foreign investors and the delivery of the information to the Information Management Division;
• Facilitates the processing and timely delivery of government permits and sector- specific incentives;
• Carryout any other functions that may be assigned to the department by the Chief Executive Officer.

DEPARTMENT OF POLICY ADVOCACY AND EXTERNAL RELATIONS

The Department’s mandate was primarily to advocate for improvement in Nigeria’s investment climate by proposing appropriate policy, legal and regulatory reforms conducive to foreign investment. The objective is to create appropriate legal and regulatory environment for foreign investment.

Functions

A. Preparation of National Investment Policy

• Collect, aggregate existing policies
• Consultative meetings/discussions
• Comparative studies against international best practices
• Organizing National Conference on Investment
• Coordinating Initiate approval process/documentation.

B. Establishment of relationship with Sectoral National Councils

• Participate and present memorandum at various sectoral National Council meetings to advance4 the course of Investors.

C. Maintaining effective liaison with other agencies and international bodies.

DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT

The department of Human Resources was responsible for recruitment, staff development/training, discipline, staff welfare (covering health and housing) and industrial labour relations.

The key objective of the Department was to ensure that the Commission attracts and returns skilled and competent staff for effective and efficient achievement of its overall objectives through capacity building and provision of staff welfare for increased productivity.

Structure

The department has two divisions:

(i) Establishment Division

This division presides over such functions as:

* Human resource planning;
* Recruitment, selection and placement;
* Compensation and reward policy implementation;
* Performance appraisals and promotions decisions;
* Development of Organizational Culture;
* Implementation of Grievance and Discipline procedures.
* Staff Pension administration

(ii) Staff Training & Welfare Division

The functions of this division covers such aspects as:

* Training needs assessment;
* Training policy implementation to cover:
* Induction & Orientation courses
* Implementation and propagation of organizational culture;
* Development of training objectives;
* Development and implementation of training programs;
* Evaluation of results of training programs.
* Industrial and Labour Relations;
* Staff welfare scheme – Insurance, Housing, Medical etc.;

DEPARTMENT OF FINANCE AND ADMINISTRATION

Introduction

The main focus of the department of Finance and Administration is the provision of support services needed to enable the Nigerian Investment Promotion Commission (NIPC) operates efficiently and smoothly as an Investment Promotion agency.

The objective of the department is therefore to provide Finance and administrative services for the attainment of the Vision, Mission and Objectives of the Commission.

Structure

The department has two divisions:

(i) Finance & Accounts

The Finance Division was responsible for the development and control of budgets, financial management and financial accounting. The functions of this division is to keep the books of the Commission in accordance with established local and international Accounting Standards and Practices including:

* Processing expenses and revenue receipts;
* Documenting and maintaining organizational assets;
* Preparing and managing payroll;
* Managing procurements and Capital Expenditure;
* Preparing and controlling budgets;
* Preparing Final and Management Accounts;
* Inventory Management;
* Donor (Credit) Accounting for Project Funds.

(ii) Administration

This division is responsible for the general administration of the Commission, which includes:

a. Facility Management;
b. Transport and Logistic Services;
c. Maintenance of NIPC buildings;
d. Security;
e. Grounds maintenance; and
f. Procurement.

OFFICE OF THE EXECUTIVE SECRETARY/CEO

CORPORATE DEVELOPMENT UNIT

Corporate Development unit was a central support service unit in the Office of the Executive Secretary/CEO. It operates a network of horizontal and vertical functional relationships with all Departments and component units of the Commission. This is to facilitate adequate co-ordination of the planning process and ensure streamlining by management, of policies, programmes, systems and operations for the purpose of creating the necessary organizational harmony and integration in line with the vision, purpose, mission and objectives of the NIPC.

The main objective of the CD Unit was to position NIPC to effectively carryout its investment promotion activities through effective strategic planning, continuous appraisal of policies, keeping all plans in perspective and Facilitate the emergence of a vibrant and proactive culture of excellent service delivery that enhances NIPC’s competitiveness and effectiveness as an Investment facilitation Agency.

Functions of the Unit

To achieve the objectives, the CD Unit has the following functions:

1. Facilitate the preparation and co-ordination of the implementation of Strategic and Annual Work Plans

2. Co-ordinate the preparation and ensure effective implementation of Operating Manuals and Policy Guidelines on all activity areas of the Commission.

3. Coordinate and facilitate the emergence of a new Corporate Culture/Climate.

4. Coordinate the preparation of periodic Corporate Reports for meeting internal and external information requirements.
5. Facilitate the implementation of National Economic Empowerment and Development Strategy (NEEDS) in the Commission.

6. To ensure effective monitoring and follow-up on the implementation of policies and management decisions by means of Compliance mechanism.

7. Serve as quality control mechanism for corporate target setting, standardization and Performance Evaluation in the Commission; including the evolvement of a Service Charter to guide NIPC’s Service delivery efforts.

8. Undertake continuous monitoring and appraisal of the Best
Practices in the management of Investment Promotion Agencies
(IPAs) to observe latest trends, for benchmarking with NIPC.

9. To coordinate the activities of Inter-Departmental Strategic Planning
Group/Committee.

RESEARCH AND INTELLIGENCE UNIT

The Research and Intelligence Unit was responsible for sourcing, analyzing and providing information for the purpose of investor servicing, investment generation and policy advocacy functions of the Commission. In addition to research activities, the unit also manages the Commission’s library.

The objective of the Research Unit is to provide accurate and timely information for investment decision making for stakeholders as well as serve as a repository of information for the Commission.

Functions

In line with the Commission’s mandate, the Unit’s main function is the provision of well researched and packaged investment related information for the purpose of investment promotion. The key tasks include:

• Undertake policy analysis
• Conduct sector studies
• Gather and analyze statistical data and advice other relevant departments
• Prepare reports on matters affecting investment in Nigeria raising issues and developing recommendations for improving FDI inflow.
• Conduct research on relevant data involving country competitiveness, feasibility studies/project profiles and investors’ perception of Nigeria and provide promotion materials e.g. brochures, investor guides, etc.
• Track the level /quantum of FDI inflow to Nigeria
• Continuous update of the NIPC website contents.

LEGAL UNIT

The Unit’s mandate was to provide the Commission with professional Legal Advice and services on all aspects of its operations and to protect her interest from all foreseeable actionable course by ensuring that the Commission carries out its mandate within the limits of the enabling Act.

Functions of the Unit:

1. Provide advisory opinions to the Executive Secretary, the Council and the Commission.

2. Prepare various instruments and other non-legislative documents, subsequent interpretation of already prepared Agreements/documents.

3. Offer legal advice and firm representation in negotiation of commercial and industrial agreements to which the Commission is a party.

4. Produce and circulate minutes of meetings of the Management Committee meeting and ensure compliance with all statutory requirements for meetings.

5. Advise on Commercial enterprises particularly in the areas of Joint Venture Contracts, Project Finance, and International Trade.

6. Advise NIPC on all issues needing arbitration and arranging adequate representation at such arbitration.

7. Liaise with the office of the Attorney General of the Federation, the Corporate Affairs Commission and other relevant agencies of the Government on legal matters affecting the Commission.

8. Analyse and interpret all legal documents on behalf of the Commission.

9. Research, review and update various legislations as they affect the Commission. Also assist in the preparation of draft legislation emanating from the Commission or the ones that affect the Commission.

10. Service the meetings of Council on behalf of the Executive Secretary.

11. Liaise with external solicitors for effective representation of the Commission in all litigations.

ZONAL COORDINATION UNIT

The main objective of the Unit was to coordinate and direct the affairs of the Zonal offices towards the attainment of the corporate objectives of the Commission.

Functions

i. Collection, collation and analysis of monthly reports of activities performed by each zonal office.
ii. Liaise with core departments of the Commission in the dissemination of information and collaboration of investment related matters originating from the zones.
iii. Keep the Executive Secretary informed on the activities, achievements and constraints of the Zonal offices.
iv. Oversees the data gathering within the zones.
v. Performs special duties that may be assigned from time to time.
vi. Prepares annual report on the activities of the zonal offices.

Structure

The Zonal offices are created to essentially mirror the activities of the head office at the zonal levels;

Functions of the Zones

i. To collect and collate investors information at the zonal level.
ii. To provide after care services to investors at the zonal levels.
iii. To liaise with and assist the state government and other stakeholders in improving the investment climate at the zonal level.

HONORARY INTERNATIONAL INVESTORS COUNCIL (HIIC)

Membership

The Council comprised of top-level corporate Executives i.e. Chairmen or CEO’s of large foreign companies, in position to authorize or influence the investment decisions of their companies and that of their country.

The Council also included the Economic Team Members, the ES/CEO of NIPC; key relevant Ministers (Finance, Commerce, Agriculture, Communications, Solid Minerals Development, Agriculture, Power & Steel and Industry), the Economic Adviser and the CEO’s of NNPC, NEPC, NEPA & BPE.

These high level members of the International Business community are invited to add value propel and channel the efforts of Government to the realization of the objectives envisaged.

The Role of the Council:

The new Council was to assist in communicating developments about the country to the international investment community in conjunction with the NIPC by:

• Arranging investment fora in which key officials of Government and international business people can meet to highlight Nigeria’s investment opportunities.
• Undertaking practical efforts to attract more FDI; and
• Providing general public relations and promotion on Nigeria’s improved business climate.

The Council’s Terms of Reference:

• To provide inputs that would shape future policy affecting business climate in the country and promote investment opportunities in Nigeria to the international community;
• To help increase the Government’s understanding of the factors helping or hindering investment into the country;
• To offer perspectives on developments in the international community and communicate developments within the country to the international community;
• To advise on priority areas of economic activity for the purpose of enhancing Nigeria’s attractiveness as investment destination;
• To avail the Government with the dynamics of investment location decisions of the international investing community;
• To advice Mr. President on value added strategies for attracting FDI’s into Nigeria;
• To assist in promoting Nigeria’s improved business climate and attractive opportunities to the international business community;
• To assist in influencing investment location decisions of targeted potential investors in favour of Nigeria through their good offices; and
• To enhance the image building effort of Nigeria.

MULTILATERAL AND PLURILATERAL UNIT

The Unit was responsible for data collection, review and analysis of trade policies, programme and projects.

Functions

i. Fostering and promoting effective balance in exports and imports.
ii. Contribute to the programmes and projects of the other departments that relate to the multilateral and plurilaterals.
iii. Serve as data bank on trade policies.
iv. Develop programmes and strategies on how NIPC can from Multilateral institutions.
v. Identify, review and analyse trade policies (programmes) of Multi and Plurilateral institutions as they affect Nigeria.

INFORMATION TECHNOLOGY UNIT

The IT Unit, a service Unit, is charged with the responsibility of ensuring effective use of all available IT infrastructures in the Commission. The objective is to provide the Commission with very efficient and reliable Information Technology backbone for all the operations and ensure efficient information flow both within and outside the Commission.

Functions

i. Maintaining a secured and efficient Local Area Network and provision of Wide Area Network (connecting the Zonal Offices to the NIPC local area network).

ii. Developing and maintaining a robust and dynamic Web Portal/Web Site for the Commission, as a medium of Internal and External Communication and publishing of the Commission’s activities.

iii. Acquiring and maintaining computers hardware and peripherals for the Commission.

iv. Acquiring and maintaining an efficient and reliable Internet Connectivity for the Commission.

v. Developing, Installing, and updating software needs of the Commission.

vi. Improving and Enhancing the PABX functionalities.

vii. Conducting in-house training on the use of information technology facilities for the entire staff of the Commission.

INTERNAL AUDIT UNIT

The Internal Audit Unit was responsible for ensuring the adequacy of the internal control system, adherence to Management policies, facilitating and measuring the effectiveness, efficiency and economy of policy implementation.

Functions of the Unit

The function of the Unit includes the following:
(i) Conduct of pre audit (vouching of vouchers and receipts before payment);
(ii) Conduct of value for money audit;
(iii) Ensuring the adequacy of internal control system in the Commission;
(iv) Verification of assets of the Commission;
(v) Ensuring adherence to Management policies;
(vi) Annual stock taking;
(vii) Conducting quarterly post audit of finances of the Commission;
(viii) Advising, assisting and alerting Management on effectiveness; efficiency and economy of Management policy and activities;
(ix) Conduct of cost benefit analysis;
(x) Investigation, especially in areas of financial improprieties.

PRESS AND PROTOCOL UNIT

The Press and Protocol Unit was the Commission’s image building section. Its main pre-occupation is to promote, project and maintain the corporate image of the Commission. The objective is to present NIPC as a repositioned outfit poised to carryout its mandate effectively.

Functions

i. Planning and execution of the Commission’s media publicity campaigns

ii. Responsible for positively projecting the image programmes, policies, plans and activities of the Commission through Press Releases, press conferences feature articles, pamphlets, brochures, posters, films, photos and journals.

iii. Facilitates the Chairman’s and Executive Secretary’s adequate representation/ attendance at public functions.

iv. Prepare inputs into the Commission’s annual publicity budget, and implementing same as approved

v. Arrange for effective media coverage of Commission Activities

vi. Monitoring of daily newspapers for articles of interests to the Commission and issuing rejoinders where necessary

vii. Issuance of press releases as and when authorized.

viii. Compilation and keeping custody of records of all events involving the Commission through photo albums and video recordings

ix. Inserting in the media all advertisements, jingles and announcements for the Commission.

x. Initiating house journal production and printing of seasonal cards, calendars, diaries, etc for the Commission.

xi. Participating in all Trade Fairs and Exhibitions both locally and in.

xii. Co-ordinate all travel and Hotel accommodation arrangements for the Commission’s guest.

xiii. Ensure proper protocol standards in all functions organized by the Commission.