One Stop Investment Centre sustains foreign investments –NIPC

The Nigeria Investment Promotion Commission (NIPC) has said that its `One Stop Investment Centre’ (OSIC) was promoting and sustaining foreign and local investments through complaints resolution mechanism.

The Director, Strategic Communications of NIPC, Mr Emeka Ofor, told Journalists in Abuja that the OSIC lab had stopped many foreign investors from leaving Nigeria by mitigating their challenges.

Ofor, who was reacting to claims that many foreign companies had left Nigeria due to unfavourable business environment, explained that several reasons could make an investment leave one environment.

He said that companies could fold up or leave an economy due to lack of profit or resources management, not being able to compete with their competitors, or because of government policies.

According to him, the Federal Government, with the support of the Office of the Vice President and the economic management team, set up the OSIC lab to address investors’ complaints and encourage them to stabilise and expand their outfits.

“The reason behind OSIC lab is to attract and sustain businesses. We do not want to hear that an investor left the country simply because he has challenges; we want to hear those challenges and resolve them.

“We always try to tackle the challenge before the investor starts thinking of leaving the country,’’ he added.

The OSIC, which is coordinated by NIPC, brings together 27 government related agencies in one location to simplify business entry processes by removing administrative and regulatory bottlenecks pertaining to doing business in Nigeria.