Presentation on theme: "ONE STOP INVESTMENT CENTRE (OSIC)"— Presentation transcript:
1 ONE STOP INVESTMENT CENTRE (OSIC) By,ENGR MUSTAFA BELLO(CEO, NIPC)At the,PRESIDENTIAL RETREAT ON ONE STOP SHOP
2 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.
3 KEY PRINCIPLES OF OSS C – Convenience E – Efficiency S – Simplicity The One Stop Shop is guided by the following principles:C – ConvenienceE – EfficiencyS – SimplicityS – SpeedT – Transparency
4 TYPES OF SERVICES (FIRST PHASE) Business incorporation, Registration and AuthorizationsInstant Granting of Approval-in- Principle, Permits and LicensesProvision of investment information
5 WHAT ONE STOP SHOP DOES; Substantially reduces the cost of doing businessEnsures FDI and Investor TrackingSimplifies procedural stepsShortens service delivery time without compromising policy objectives of the various agencies (safety, security & environmental concerns)
6 WHAT ONE STOP SHOP DOES; (cont’d) Ensures TransparencyProvides investment information and advice to investorsEnsures close and professional working relationship among government agencies to meet the needs of investorsTriggers and fast tracks public sector reform which would ultimately result in structurally more attractive business environment
7 THE NEED FOR ONE STOP SHOP To address administrative bottlenecksTo reduce high cost of doing businessTo eliminate dealing with multiple agencies in different locationsTo eliminate use of discretion and lack of transparency in granting approvals, licenses, permits, etcTo eliminate red-tape in procedures and processesTo do away with poor service delivery
8 Coordinated One Stop Approval Framework Nigerian ModelCoordinated One Stop Approval Framework
9 FEATURES OF OSSParticipating agencies maintain existing mandates and responsibilities within the structure of the OSSstreamlining and coordinating operations of Agencies are to deliver highest service standardsThe OSS to serve both Foreign and Nigerian Investors
10 FEATURES OF OSS (cont’d) NIPC coordinates and provides frontline services in the OSICAgencies to establish presence in phasesThe approval time of 24hours for business entryThe OSS covers investments in all sectors of the economy including oil and gasMandatory registration for all foreign investors to facilitate investor/FDI tracking as provided for in the NIPC Act
11 FEATURES OF OSS (cont’d) The selected agencies to establish physical presence in the OSIC at NIPCA client charter to set standards and service targetsAll delegated staff are on posting to OSIC and shall remain on the payroll of their parent agenciesAll guidelines and procedures are to be simplified and made very clear to remove the use of discretion
12 FEATURES OF OSS (cont’d) All participating agencies to review, re-engineer and streamline their procedures and requirements to attain set standardsA monitoring mechanism shall be put in place to track processes and ensure compliance with service standardsElectronic Payment Management System to be put in place to facilitate transparent payment of fees/charges
13 PROCESS OF ONE STOP SHOP Payments(Commercial Bank)Registration &IncorporationCollection of Approvals/LicensesBusiness Approvals & LicensesOSICFront OfficeInvestorAdvisory ServicesENQUIRY/INFORMATIONPROCESSINGPAYMENTSCOMMENCEMENT OF BUSINESS
14 LIST OF PARTICIPATING GOVERNMENT AGENCIES (1st Phase) 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)
15 CRITICAL SUCCESS FACTORS Effective Monitoring MechanismContinuous training and capacity building for staffIntegration of OSIC to NIPC corporate work planBuilding strong data baseICT driven operationsOSIC combines both business entry and aftercare
16 CONCLUSIONThe 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.
Your consent to our cookies if you continue to use this website.