6 November 2017

Nigeria: Many Investors Unaware of Our Incentives - NIPC

The Nigerian Investment Promotion Commission (NIPC) has said that many investors within and outside the country are unaware of the numerous investment opportunities and incentives available for them in the country.

The Executive Secretary of the NIPC, Yewande Sadiku, said this in Abuja at the weekend while unveiling a compendium of investment incentives in Nigeria, jointly produced by the commission and the Federal Inland Revenue Service (FIRS).

Sadiku said it is important that investors should have knowledge of incentives in the country as doing so would increase their profitability and also capacity to create jobs for Nigerians.

She said the compendium is not a collection of new incentives but a compilation of existing ones available in different sectors of the economy such as investment policies and protection, taxation and special economic zones.

"In compiling the compendium, great care was taken to ensure completeness and accuracy. Efforts were made to ensure that all incentives presented in the compendium are backed by law or have been gazetted," she said.

The Executive Chairman of the FIRS, Tunde Fowler, also corroborated the NIPC that the incentives have been in existence but most times unnoticed by investors since the incentives are not in a single document.

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