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ONE STOP INVESTMENT CENTRE (OSIC). By, ENGR MUSTAFA BELLO (CEO, NIPC) At the, PRESIDENTIAL RETREAT ON ONE STOP SHOP. ONE STOP SHOP: THE CONCEPT.

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ONE STOP INVESTMENT CENTRE (OSIC)

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ONE STOP INVESTMENT CENTRE (OSIC)

By,

ENGR MUSTAFA BELLO

(CEO, NIPC)

At the,

PRESIDENTIAL RETREAT ON ONE STOP SHOP


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ONE STOP SHOP: THE CONCEPT

  • An investment facilitation mechanism where relevant government agencies are brought to one location, coordinated and streamlined to provide prompt, efficient and transparent services to investors;

  • It shortens and simplifies administrative procedures and guidelines for issuance of business approvals, permits and licenses,thereby removing bottlenecks faced by investors in establishing and running businesses.


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KEY PRINCIPLES OF OSS

The One Stop Shop is guided by the following principles:

C–Convenience

E– Efficiency

S – Simplicity

S– Speed

T– Transparency


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TYPES OF SERVICES (FIRST PHASE)

  • Business incorporation, Registration and Authorizations

  • Instant Granting of Approval-in- Principle, Permits and Licenses

  • Provision of investment information


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WHAT ONE STOP SHOP DOES;

  • Substantially reduces the cost of doing business

  • Ensures FDI and Investor Tracking

  • Simplifies procedural steps

  • Shortens service delivery time without compromising policy objectives of the various agencies (safety, security & environmental concerns)


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WHAT ONE STOP SHOP DOES; (cont’d)

  • Ensures Transparency

  • Provides investment information and advice to investors

  • Ensures close and professional working relationship among government agencies to meet the needs of investors

  • Triggers and fast tracks public sector reform which would ultimately result in structurally more attractive business environment


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THE NEED FOR ONE STOP SHOP

  • To address administrative bottlenecks

  • To reduce high cost of doing business

  • To eliminate dealing with multiple agencies in different locations

  • To eliminate use of discretion and lack of transparency in granting approvals, licenses, permits, etc

  • To eliminate red-tape in procedures and processes

  • To do away with poor service delivery


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Nigerian Model

Coordinated One Stop Approval Framework


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FEATURES OF OSS

  • Participating agencies maintain existing mandates and responsibilities within the structure of the OSS

  • streamlining and coordinating operations of Agencies are to deliver highest service standards

  • The OSS to serve both Foreign and Nigerian Investors


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FEATURES OF OSS (cont’d)

  • NIPC coordinates and provides frontline services in the OSIC

  • Agencies to establish presence in phases

  • The approval time of 24hours for business entry

  • The OSS covers investments in all sectors of the economy including oil and gas

  • Mandatory registration for all foreign investors to facilitate investor/FDI tracking as provided for in the NIPC Act


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FEATURES OF OSS (cont’d)

  • The selected agencies to establish physical presence in the OSIC at NIPC

  • A client charter to set standards and service targets

  • All delegated staff are on posting to OSIC and shall remain on the payroll of their parent agencies

  • All guidelines and procedures are to be simplified and made very clear to remove the use of discretion


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FEATURES OF OSS (cont’d)

  • All participating agencies to review, re-engineer and streamline their procedures and requirements to attain set standards

  • A monitoring mechanism shall be put in place to track processes and ensure compliance with service standards

  • Electronic Payment Management System to be put in place to facilitate transparent payment of fees/charges


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ENQUIRY/INFORMATION

PROCESSING

PAYMENTS

COMMENCEMENT OF BUSINESS

Registration &

Incorporation

Investor

OSIC

Front Office

Business Approvals & Licenses

Payments

(Commercial Bank)

Collection of Approvals/Licenses

Advisory Services

PROCESS OF ONE STOP SHOP


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Nigerian Investment Promotion Commission (NIPC)

Corporate Affairs Commission (CAC)

Nigeria Immigration Service (NIS)

Nigeria Customs Service (NCS)

Federal inland Revenue Service (FIRS)

National Office for Technology Acquisition and Promotion (NOTAP)

National Agency for Food and Drug Administration and Control (NAFDAC)

Central Bank of Nigeria (CBN)

Bureau of Statistics (NBS)

Federal Ministry of Solid Minerals (MSMD)

Federal Ministry of Finance (FMF)

Standards Organisation of Nigeria (SON)

Federal Capital Territory (FCTA)

LIST OF PARTICIPATING GOVERNMENT AGENCIES (1st Phase)


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CRITICAL SUCCESS FACTORS

  • Effective Monitoring Mechanism

  • Continuous training and capacity building for staff

  • Integration of OSIC to NIPC corporate work plan

  • Building strong data base

  • ICT driven operations

  • OSIC combines both business entry and aftercare


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CONCLUSION

  • The Success of the One Stop Shop Process in Nigeria depends largely on the ability of all the Ministries and agencies involved in investment facilitation to appreciate the need to comprehensively re-engineer and reform their individual administrative processes beyond the OSIC in order to serve investors promptly, efficiently and transparently.


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  • THANK YOU FOR YOUR ATTENTION


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