By the
provisions of section 4 of the Decree, the Nigerian Investment Promotion
Commission (NIPC) is to encourage, promote and co-ordinate investment in
the Nigerian Economy. Pursuant to this, Commission’s functions include
the following: -
Registration of Enterprises
NIPC shall
on application, within 14 days register all joint ventures or wholly
foreign-owned enterprises and will keep; records of all such
enterprises.
Provision of supports Services to Existing and potential Investors
Collation,
analysis and dissemination of information about investment opportunities
as sources of investment capital and advise on request, the
availability, choice or suitability of partners in joint-venture
projects.
Maintaining liaison between investors and ministries, Government
departments and Agencies, institutional lenders and other authorities,
concerned with investments. Identification of specific projects and
inviting interested investors for participation in those projects.
Provision and dissemination of up-to-date information on incentives
available to investors
For the
purpose of promoting identified strategic or major investment, NIPC
shall, In consultation with appropriate government agencies, negotiate
specific incentive package for investors.
NIPC may
issue guidelines and procedures which specify priority areas of
investment and prescribe applicable incentives and benefits consistent
with Government policy.
NIPC
shall, as expedient, advise the Federal Government on policy matters
including fiscal measures in order to encourage deserving industries or
particular sectors of the economy.
Investment Promotion and Monitoring Activities
NIPC will
initiate, organize and participate in promotional activities, such as
exhibitions, conferences and seminar for the stimulation of investments.
Through its monitoring outfit, NIPC will identify problems and
difficulties being encountered by investors and proffer viable solutions
and render necessary assistance to them.
