The Ministry of Industry, Trade and Investment, has reaffirmed its commitment to collaborate with the Revenue Mobilisation Allocation and Fiscal Commission and other relevant stakeholders to enhance Nigeria’s investment climate.

The minister, Jumoke Oduwole, made the commitment during a courtesy visit by an RMAFC delegation led by the chairman of the Investment Monitoring Committee, Ekene Enefe, in Abuja on Monday.

Oduwole said that the commitment was in line with the Renewed Hope Agenda of President Bola Tinubu.

She acknowledged existing challenges in the investment ecosystem while highlighting ongoing reforms to improve service delivery and institutional coordination.

According to her, we acknowledge that while progress has been made, there are still gaps that need to be addressed.

“I assure you of our continued collaboration with RMAFC to strengthen investment opportunities and deliver better services for investors and the Nigerian economy.

“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,” Ms Oduwole explained.

The minister added, “There have been notable strides and measurable achievements; however, much more remains to be done. Our focus is on deepening reforms across the entire investment ecosystem to ensure efficiency, transparency, and improved outcomes.

“Mr President has emphasised the need for stronger coordination across government institutions to enhance service delivery, and this is already being implemented.”

Mr Enefe restated the need for Nigeria to align its investment processes with global best practices, particularly in business registration and investor onboarding.

He noted that delays of up to two to three weeks for company registration were no longer competitive in a fast-paced global investment environment.

Mr Enefe called for urgent reforms to streamline investment processes and eliminate bureaucratic bottlenecks as part of efforts to enhance Nigeria’s attractiveness to both domestic and foreign investors.

He said that inefficiencies in the system may discourage potential investors, many of whom operate under tight timelines, from opting for jurisdictions with faster, more predictable processes.

According to Mr Enefe, the world has moved on. Investors expect seamless, one-stop-shop systems in which critical processes, such as company registration, are completed within days, not weeks.

He underscored the commission’s evolving role beyond revenue sharing, noting that RMAFC was committed to supporting initiatives that would expand Nigeria’s revenue base through improved investment inflows.

”As a commission, we must move beyond revenue distribution to actively supporting initiatives that will grow the nation’s revenue. By improving the investment climate, we can significantly enhance national earnings and drive sustainable economic growth,” he said.

(NAN)