Maryam Aminu
Nigeria’s bid to attract both local and foreign investors has received fresh momentum as the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) calls for sweeping reforms to eliminate bureaucratic delays and modernise the country’s investment processes.
The call was made during a high-level engagement in Abuja where a delegation led by Hon. Enefe Ekene, Chairman of RMAFC’s Investment Monitoring Committee, met with the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.
Speaking at the meeting, Ekene warned that Nigeria risks losing critical investment opportunities if it fails to match global standards, particularly in business registration and investor onboarding timelines.
He noted that waiting two to three weeks to register a company is no longer competitive in today’s fast-moving global economy.
According to him, investors now gravitate toward jurisdictions offering faster, predictable, and seamless systems. “The global investment landscape has evolved. Investors expect efficiency systems where processes are completed within days, not weeks,” he said, stressing that delays could push investors toward more responsive economies.
Ekene further highlighted a strategic shift in RMAFC’s role, noting that the Commission is increasingly focused on driving revenue growth, not just sharing it.
He explained that improving the investment climate is key to expanding Nigeria’s revenue base and achieving sustainable economic growth.
Responding, Oduwole acknowledged existing gaps within Nigeria’s investment ecosystem but assured that reforms are underway to enhance coordination and service delivery across government institutions.
She revealed that the administration of Bola Ahmed Tinubu is prioritising stronger institutional synergy to improve investor experience.
The Minister pointed to ongoing collaboration with agencies such as the Corporate Affairs Commission to streamline business registration and related services, adding that while progress has been recorded, deeper reforms are still required to achieve efficiency and transparency.
She reaffirmed the Ministry’s commitment to working closely with RMAFC and other stakeholders to strengthen Nigeria’s investment landscape in line with the government’s economic agenda.
Other members of the RMAFC delegation also contributed to the discussions, raising key issues including enhanced support for domestic investors, clearer operational frameworks for Export Free Zones, and improved inter-agency coordination to simplify investor processes.
The meeting underscores a growing push within government circles to dismantle structural barriers to investment, improve ease of doing business, and position Nigeria as a more attractive destination for capital inflows.
Africa Security Investigation News 