State IPAs launches investment reforms forum, deepens sub-national competitiveness

By Dooyum Naadzenga

As part of efforts to strengthen Nigeria’s investment promotion architecture at the state level, heads of State Investment Promotion Agencies (IPAs) from across the country have formally inaugurated the Forum of State Investment Promotion Agencies of Nigeria.

The Forum is a national community of practice designed to foster collaboration, build institutional capacity, and strengthen the foundations for sustainable private sector growth across all states and the FCT.

The Forum was officially launched on Monday, following a virtual meeting of IPA leaders from all six geopolitical zones. The decision to create the Forum follows one of the key resolutions at the sidelines of the State Action on Business Enabling Reforms (SABER) technical workshop organised by the Nigerian Governors’ Forum in February 2025. FoSIPAN aligns with Nigeria’s broader ambition to become a top destination for investment on the African continent and marks a significant milestone in subnational reform efforts.

Institutionalising Investment Promotion

FoSIPAN’s establishment supports the implementation of the State Action on Business Enabling Reforms (SABER) programme, particularly in advancing Development Linked Indicators (DLIs) 3 (Public-Private Dialogue and PPP Development) and 4 (Investment Promotion Environment). The Forum will serve as a mechanism for sustaining SABER-driven reforms, fostering knowledge-sharing, peer benchmarking, and standardised reform implementation.

With Nigeria’s $750 million World Bank-supported SABER programme expected to conclude in 2027, FoSIPAN aims to entrench reform sustainability and ensure that investment promotion gains are not lost when external support phases out. By linking state IPAs with federal institutions, private sector players, and development partners, the Forum will strengthen project pipelines, improve investor services, and enhance state readiness for PPP delivery.

Speaking at the inauguration, Mr Terhemen Johnpaul Kpenkaan, Executive Secretary of the Benue Investment Promotion Agency (BENIPA), was affirmed as the interim Chairman of the Forum. He will lead a seven-member interim committee tasked with developing FoSIPAN’s operational framework, strategy, and engagement modalities over the next 12 months. Other members of the interim committee include: Roseline Bentu – Plateau State (North Central), Maryam Shehu – Borno State (North East), Muktar Nadama – Zamfara State (North West), Nkemdirim Okoroafor – Abia State (South East), Anthony Elekeokwuri – Delta State (South South), Lolade Olutola – Ekiti State (South West)

“FoSIPAN represents a new chapter in subnational economic governance. Considering that many state IPAs are still nascent and face gaps in legal frameworks, operational capacity, and long-term sustainability, FoSIPAN is our shared commitment to raise the bar on professionalism by serving as a think tank, advocacy vehicle, and coordination platform to fill these gaps and deepen the ease of doing business at the subnational level.” said Mr Kpenkaan.

Driving the Renewed Hope Agenda

The launch of FoSIPAN also resonates with the broader economic vision of President Bola Ahmed Tinubu, whose Renewed Hope Agenda identifies subnational competitiveness and job creation as central pillars of national development. By fostering a unified platform for states to exchange knowledge, standardise reforms, and collaborate on investment facilitation, the Forum is positioned to unlock inclusive growth and attract sustainable investments across all regions.

In a show of high-level support, the Director-General of the Presidential Enabling Business Environment Council (PEBEC), Princess Zahrah Mustapha-Audu, has pledged to convene a strategic workshop in June 2025 for all IPA leaders. The workshop aims to refine institutional models, enhance onboarding and aftercare capabilities, and strengthen federal-state collaboration in line with SABER’s Development Linked Indicators (DLIs).

The Road Ahead

FoSIPAN’s interim committee is now working with stakeholders to develop a roadmap for state-level capacity enhancement, peer benchmarking, aftercare systems, and investor tracking tools. Early discussions are also underway with GIZ/SEDIN, the World Bank, and Afreximbank on partnership opportunities.

As Nigeria accelerates its transition to a private sector-led economy, the launch of FoSIPAN signals a coordinated and sustainable approach to making every state investment-ready. With a unified voice and shared purpose, state IPAs are now better equipped to lead local reforms and deliver national impact.