The lack of timely, up-to-date, and reliable data on all investment opportunities in Nigeria poses a significant hurdle for potential investors seeking to engage with the country's investment ecosystem. The scarcity of data impedes informed decision-making and further undermines investor confidence, particularly at the sub-national level, where information availability varies widely.

In response to this challenge, the Nigerian Investment Promotion Commission (NIPC) has spearheaded the development of the Nigerian Investment Certification Programme for States (NICPS). This pioneering initiative aims to ensure that Nigerian states are "Investor Ready" by providing comprehensive, timely, and accurate information and guidance to potential foreign and domestic investors.

The NICPS is designed to bolster states' investment promotion infrastructure and enhance their capacity to furnish investors with the requisite data and pre- and post-investment care to make informed decisions regarding investment locations. It focuses on three core standards:

1. Information: States are expected to provide complete, accurate, and relevant information in a timely manner.

2. Property: States must offer necessary infrastructure, such as industrial sites, to facilitate investment.

3. Marketing: States should package information in a user-friendly format and provide professional support systems to potential and existing investors.

All states in Nigeria are mandated to undergo the NICPS certification process to be recognized as "Investment Friendly States." The successful NICPS exercise for three (3) states in 2018 resulted in Ogun, Osun, and Oyo States being certified as “Investor-Friendly” destinations.

Building on this foundation, the United Nations Development Programme (UNDP) and the European Union (EU) together with key INFF partner institutions –namely the Federal Ministry of Finance, the Office of the Senior Special Assistant to the President on SDGs (OSSAP-SDGs), and Federal Ministry of Budget and Economic Planning– are collaborating with the Nigerian Investment Promotion Commission (NIPC) to extend the reach of the NICPS. This collaborative effort is focused on the rollout of NICPS in three additional states across different geopolitical zones: Gombe (Northeast), Ekiti (Southwest), and Enugu (Southeast) states. The implementation process has already begun in Ekiti state, with plans underway to commence implementation in the other states. This partnership for the NICPS certification process aims to:

1. Identify opportunities to enhance the attractiveness of the three states.

2. Cultivate a positive image for each state.

3. Understand and highlight the unique competitive advantages of each state.

4. Foster cooperation between federal and state levels.

5. Enhance pre- and post-investment services for investors.

6. Attract investments that create jobs and boost revenue generation.

The NICPS implementation aligns with the broader objectives of the Nigeria Integrated National Financing Framework (INFF) for sustainable development, which seeks to mobilize public and private resources to finance Nigeria's Sustainable Development Goals (SDGs). With support from key stakeholders and funding partners, the INFF is poised to drive economic recovery and facilitate SDG financing in Nigeria. Through collaborative efforts and initiatives like the NICPS, Nigeria is well-positioned to attract investments, create jobs, and attain the SDGs at both the national and sub-national levels.

Note to Editors: 

About Nigeria Integrated National Financing Framework (INFF)

The Nigeria Integrated National Financing Framework (INFF) aims to mobilize greater amounts of private and public resources to finance Nigeria’s Sustainable Development Goals (SDGs) in line with national priorities. The implementation of the INFF leverages both conventional and innovative financing mechanisms, while tackling the barriers to public and private sector participation towards addressing financing needs for economic recovery. 

Within the Nigeria INFF, four main financing opportunities have been identified as potential sources for increased SDG financing: Domestic Public Finance, Domestic Private Finance, International Public Finance, and International Private Finance. To exploit each of these opportunities, specific action plans and initiatives have been developed for implementation. 

The INFF is an initiative of the Federal Government of Nigeria whose Steering Committee is chaired by the Federal Minister of Finance and Coordinating Minister of the Economy, with Secretarial support provided by the Office of the Senior Special Assistant to the President on SDGs (OSSAP-SDGs), and technical support from the Federal Ministry of Budget and Economic Planning. Current funding partners of the INFF include United Nations Development Programme (UNDP) and the European Union (EU) Delegation in Nigeria.

For more information on the Nigeria Integrated National Financing Framework (INFF), visit the official resources:

• Global INFF resources: Link

• Nigeria INFF resource: Link