Nigeria's Investment Agency Troubled As Buhari Appointee Suffers Competence Crisis

would reappoint a chief of the Nigerian Investment Promotion Commission who was once sacked over incompetence and ineptitude. But as the president announced that Saratu Umar would lead the commission again -- after she was sacked by former president Goodluck Jonathan in 2015 -- staff and directors exercised hope there would be a change.

Senior staff and directors of the commission, in separate interviews with PREMIUM TIMES, said the competence deficit in leadership is making NIPC depleted in strength and performance and ridiculing the existence of the federal parastatal. All the staff sources begged this newspaper for anonymity because they were not allowed to speak to the press on the matter.

They cited institutional problems facing the crumbling government agency such as delays in treating correspondences; not honouring the invitations for NIPC's national assignments; not attending or approving participation in sponsored important international events; not implementing the Country-Specific Investment Strategy considered and approved in 2018 and so on.

Tax incentives or pioneer status are exemptions granted by the federal government to qualified and important investment projects from companies deriving profits in Nigeria or brought into the country,. The importance of the pioneer status incentives is to attract foreign direct investments to enhance the growth and development of Nigeria.

A staff of the commission with sufficient knowledge of the ongoings about the pioneer status said Ms Umar's lack of commitment to approve these applications has caused a setback for the tax incentive scheme.

"She also forces staff of specific units to report to them and berates them for not subjecting themselves to tasking by these outsiders," the petition read in parts.

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