National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Kelvin Oye, has called for a comprehensive strengthening of Nigeria’s Investment Promotion Agencies (IPAs) to attract quality investments into key sectors of the economy.

Oye, who is also the chairman of the Organised Private Sector of Nigeria (OPSN), emphasised the urgent need to enhance institutional capacity and promote collaboration among federal and state IPAs to unlock Nigeria’s vast economic potential.

He spoke at the Nigerian Investment Promotion Commission Summit, held in Benin City, Edo State. He said: “We are gathered to deliberate on how Investment Promotion Agencies (IPAs) can enhance their institutional capacities and facilitate collaborations that will ultimately attract impactful investments into Nigeria’s vital sectors.

“Nigeria’s investment landscape presents a complex interplay of both opportunities and challenges.”

As the largest economy in Africa, endowed with a burgeoning population and an expanding middle class, Nigeria holds immense potential for investors. However, persistent hurdles continue to impede progress.

On Nigeria’s economic opportunities, the NACCIMA boss stated, “With over 230 million people, Nigeria offers a vast consumer base driven by an increasingly affluent middle class. The question is: why are we not getting more high-impact investments into specific critical sectors in Nigeria?”