Investor Presentaiton

laws do not impede investment, but the imposition and administration of taxes is highly controversially uneven and lacks transparency. This to a large extent informed the rationale and need for a shift in investor service administration in the country to a more streamlined and coordinated approach which is the 'One Stop Shop' (OSS) concept of investor facilitation/servicing. The implementation in 2006, of the One Stop Investment Center (OSIC) for facilitating investment in Nigeria as coordinated by the Commission has gone a long way in eliminating the bottlenecks associated with business entry. Inter-Agency Rivalry Presently, there is the problem of multiplicity of agencies involved in various aspects of investment facilitation processes in Nigeria and the resultant inter- agency rivalry, which is complicated by conflicting statutory laws/legal frameworks. These require to be streamlined, simplified and clarified to support investment facilitation. The OSS has considerably reduced this tendency because of the "team Nigeria” approach adopted at the center in dealing with investors. Investment Incentives Investment incentives are generally designed to provide tariff, fiscal and other concessions to enterprises that meet certain criteria such as size, choice of sector, employment creation, location, and local content etc. This applies both to foreign and domestic investors. Thus, for the purpose of attracting identified strategic investments, The NIPC by its mandate is expected to execute full authority in the administration of the numerous incentives to encourage investment activities. This is however, not the case as some Federal Ministries and agencies are equally performing this function. This requires coordination and streamlining for effectiveness. The recent Presidential Committee on Problems of Investors is doing its best in overcoming most of the constraints while attempt are being made to review the incentive regime and make them responsive to the yearnings of investors.. Funding Funding has been a major constraint to the implementation of the activities of the Commission. Foreign investment is an important instrument within national economic and industrial development policies. NIPC, as the key institution for the attraction of this investment, need to be properly funded by government as is the practice all over the world. The present administration appreciation of the strategic importance of investment Promotion is expected to attract funding support for the Commission. 47

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