Enugu State Launches NICPS to Boost Investment and Economic Growth

By May 31, 2024 NIPC News

Nigerian Investment Promotion Commission (NIPC), in collaboration with Enugu State, has launched the Nigerian Investment Certification Program for States (NICPS) to enhance the state’s investment climate and drive economic growth. The inauguration ceremony in Enugu’s historic Coal City marked a significant step towards attracting and managing investments effectively.

Ms. Aisha Rimi, the Executive Secretary/CEO of NIPC, highlighted the importance of the NICPS in her address. “The NICPS program is designed to empower states with the tools and capacity to attract and manage investments efficiently,” she stated. “Enugu State, with its rich natural resources and vibrant economic potential, stands to gain significantly from this initiative.”

The NICPS focuses on three core standards: providing accurate and relevant investment information, facilitating necessary infrastructure, and professionally packaging and presenting this information to potential investors. These elements are crucial for making Enugu State an attractive investment destination.

Barrister Ifeanyi Ossai, Deputy Governor of Enugu State, represented Governor Peter Mbah at the event and reinforced the State’s commitment to a business-friendly environment. “We assure the NIPC that as a government, we will leave no stone unturned to ensure that investors are well received and supported,” Ossai declared. “This program is crucial for us as we aim to build a private sector-driven economy.”

Barr. Ossai further expressed the State’s readiness to work closely with the NIPC to achieve the program’s objectives. “We want to ensure that investors find Enugu State ready and willing to support their ventures. We aim to create investment opportunities that will drive a great economy,” he added.

The NICPS aims to identify and promote the unique investment opportunities within each State, enhance the image of the States as attractive destinations for investment, strengthen Federal and State cooperation in investment promotion, and improve services provided to investors. This is expected to boost investment inflows, create jobs, and increase State revenues.

Enugu State’s efforts under Governor Mbah’s leadership align perfectly with these objectives, particularly through initiatives such as rehabilitating moribund industries and establishing industrial parks. The State government has been proactive in signing memoranda of understanding with various companies to revitalise key sectors of the economy.

Ms. Rimi praised these initiatives: “We are particularly encouraged by the Governor’s commitment to projects such as the recent signing of an MoU with Pragmatic Palms Limited and the rehabilitation of the State’s moribund industries. These efforts are crucial for encouraging investment and economic growth.”

The Enugu Geographic Information Service (ENGIS) was also highlighted as a critical factor in attracting investment. ENGIS must ensure investors can confidently acquire and develop land by streamlining land titling processes and maintaining accurate records.

Ms. Rimi thanked the Enugu State Government for their support and hospitality. “Your administration’s vision and initiatives have set a solid foundation for making Enugu State a preferred destination for investors. We at NIPC look forward to continued collaboration with your government to realise this vision,” she said.