The Nigerian Investment Promotion Commission (NIPC) has called on sub-national governments to step up their roles in attracting and retaining investments.
According to the NIPC, this is a strategy to diversify Nigeria’s economy and restore investor confidence.
Ms Aisha Rimi, the Executive Secretary/CEO of NIPC, made the call in Benin, while speaking at a high-level stakeholder engagement with State Investment Promotion Agencies (SIPAs).
Rimi said that both domestic and foreign investments were critical to Nigeria’s economic recovery.
“Nigeria urgently needs to diversify its economy. We must industrialise, create jobs for our youthful population, grow what we eat, and develop our infrastructure.
“The answer is investment and the states are at the heart of this,” she told the stakeholders.
The NIPC boss noted that Nigeria’s investment drive would only succeed if states adopt proactive strategies and prioritise investors’ satisfaction, especially from local businesses, which she called “your biggest ambassadors.”
“The most powerful promotion is word of mouth. If your local investors are frustrated, that message spreads fast,” she said.
Rimi announced a new commission-led investment certification programme for states, designed to replicate its one-stop investment centre model at the sub-national level.
“Investors demand clarity, transparency, and ease of doing business. Our programme helps states build that ecosystem,” she explained.
She also said that competition among states could be a healthy force, but only if backed by capacity and credible investment data.
“We have had situations where states were sold based on potential but couldn’t back it up. Investors are smart, they do their homework,” she said.(NAN)
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