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   FUNCTIONS OF NIPC

 

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.