Investor Presentaiton
As is in practice, the Commission does not charge fees for most of its activities.
International best practice is that IPAs are public good agencies that are to be
funded through the public treasury to avoid sending wrong signals to investors.
Yet, funding for NIPC had remained inadequate and incapable of supporting the
high requirements and expectations for investment promotion and facilitation.
The net effect is that the very elaborate Strategic Plan and Annual Work Plans of
the Commission are not implemented effectively.
In the year under review, the actual receipts were quite below the expected
expenditure. This necessitated the realignment of goals from time to time and in
the long run, the Commission could not meet all the corporate goals set out for
the period. It was an impediment in actualizing the work plan set by
departments, which translated into not meeting the set targets. The funding
mentioned in the NEEDS document was not made available inspite of the
political clout being enjoyed by the Commission. The Commission is forced by
poor funding to approach the private sector for sponsorship of Business and
investment Forums against international best practice. Worst still, sponsorship
for business/investment forums has continue to decline due to the problem of
donor fatigue as the same institutions are approached each time to sponsor these
events..
More funding is required to facilitate the actualization of the following:
(i)
Target Investment Promotion
(ii)
Capacity building (staff training and development)
(iii)
Development of data bank
(iv)
Facilitating field visits;
(v)
Organizing regional and sectoral seminars to sensitize the local
entrepreneurs;
(vi)
Production of investment promotion materials;
(vii)
Computerization;
(viii) Maintenance and establishment of more zonal offices etc.
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