Govt has relevant laws to attract, regulate Impact Investment – NIPC

By Henry Uche, Lagos

The Nigerian Investment Promotion Commission (NIPC) has reiterated that the federal government has put in place relevant investments Laws to attract, coordinate, regulate and mainstream impact Investment into the Nigerian economy.

The Ag Executive Secretary/CEO of the Commission, Mr Emeka Offor, made this known in Lagos at the recently concluded Impact Investors Foundation Summit.

According to him, this information is necessary for prospective investors seeking entry into the Nigerian market.

‘There are investments laws in place. Some of them are NIPC Act, CAC Act, Investments and Securities Act, Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Finance Act, among others,’ he said.

The CEO reaffirmed that NIPC remains a friend of investors inside the government, committed to promoting Impact Investment even as it promotes traditional investment by both domestic and foreign investors.

‘Impact Investing refers to investments made into companies, organisations and funds with the intention to generate a measurable, beneficial social or environmental impact alongside profitable return on investment. At its core, impact investing is about an alignment of an investor’s beliefs and values with the allocation of capital to address social and/or environmental issues.

‘Nigeria is at the forefront of promoting impact Investments. For instance, a resolution for the promotion of sustainable development through Impact Investments was initiated and presented by Nigeria to the Group 77 countries and China, in 2018 at the 73rd Session of the United Nations General Assembly with the primary aim of aligning investments, from all sources to the goals and targets of the 2030 Agenda for Sustainable Development.

‘NIPC has also developed Book of States to highlights investment opportunities in the 36 States and FCT and the comparative advantages of each State. It summarises critical information about States, which are needed and useful for investment promotion and facilitation.’

On the use of technology and digital space, he added that NIPC has concluded the first phase of SWIP with the launch of the e-OSIC, saying that, “E-OSIC is one of the four components of Single Window Investors Portal (SWIP) to ensure efficient and effective delivery of one-stop Investment Centre (OSIC) services. We shall establish more digital platforms to create seamless operations for potential and prospective investors. Meanwhile, the SWIP can be accessed at the commission’s website,’ he added.

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