The Federal Government has reiterated its commitment to strengthening Nigeria’s investment climate through improved coordination among key institutions and sustained policy reforms aimed at attracting both local and foreign investors.
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, gave the assurance during a courtesy visit by a delegation from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) led by the Chairman of its Investment Monitoring Committee, Mr Ekene Enefe, in Abuja on Monday.
Oduwole said the government’s efforts align with President Bola Tinubu’s Renewed Hope Agenda, which prioritises economic growth, ease of doing business, and stronger institutional collaboration.
“We acknowledge that while progress has been made, there are still gaps that need to be addressed,” she said.
“I assure you of our continued collaboration with RMAFC to strengthen investment opportunities and deliver better services for investors and the Nigerian economy.”
She noted that deliberate reforms were underway to improve coordination among agencies such as the Corporate Affairs Commission (CAC), with the aim of making business registration and related processes faster and more efficient for investors.
“Deliberate efforts are being made to strengthen collaboration with key agencies, including the Corporate Affairs Commission, to ensure that business registration processes and related services are more efficient and responsive to investor needs,” she said.
According to her, while the government has recorded measurable progress in reform implementation, more work remains to be done in improving efficiency and transparency across the investment ecosystem.
“Mr President has emphasised the need for stronger coordination across government institutions to enhance service delivery and this is already being implemented,” she added.
On his part, Mr Enefe stressed the need for Nigeria to align its investment procedures with global standards, particularly in simplifying business registration and investor onboarding processes.
He warned that delays of two to three weeks for company registration were no longer competitive in today’s global economy.
“Our committee on investment monitoring has been closely tracking investment-related processes and we felt it necessary to engage directly with the ministry to address some of the bottlenecks we have observed,” he said.
He added that inefficient systems risk pushing investors to other countries with faster and more predictable regulatory environments.
“The world has moved on. Investors expect seamless, one-stop-shop systems where critical processes such as company registration are completed within days, not weeks.
”If we fail to meet these expectations, we risk losing valuable investment opportunities,” he said.
Enefe also called for RMAFC to play a more active role in expanding Nigeria’s revenue base through improved investment inflows, noting that the commission’s mandate should extend beyond revenue allocation.
“As a commission, we must move beyond revenue distribution to actively supporting initiatives that will grow the nation’s revenue,” he said.
“By improving the investment climate, we can significantly enhance national earnings and drive sustainable economic growth.”
Other members of the RMAFC delegation commended the minister for ongoing reforms while urging stronger support for domestic investors and improved clarity around Export Free Zones to maximise available incentives.
The meeting was described as part of broader efforts to remove structural bottlenecks, improve the ease of doing business, and enhance Nigeria’s overall investment attractiveness.
