In a sudden move, President Muhammadu Buhari has sacked Hajiya Saratu Umar from her position as the Executive Secretary/Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC). The decision was conveyed via a brief statement issued by the presidential spokesman, Femi Adesina, on Thursday night. The development is set to have far-reaching consequences for the commission and its operations.
The decision by the President to remove Umar from her position was met with mixed reactions from various quarters. While some saw it as a necessary step towards repositioning the commission, others were of the opinion that it was a politically-motivated move aimed at settling scores with certain individuals.
In a directive to the Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo, the President instructed the most senior Director in the Commission to take over the position of CEO immediately. It remains unclear who the President has in mind to replace Umar in the long term.
The Nigeria Investment Promotion Commission was established in 1995 to promote, coordinate and attract investments into the Nigerian economy. The commission is tasked with providing a one-stop-shop for investors seeking to do business in Nigeria. It is also responsible for providing advice and assistance to investors on matters relating to investment opportunities in Nigeria.
Under Umar’s leadership, the NIPC has made significant strides towards attracting foreign investments into the country. However, the commission has also faced criticism for its handling of certain investment projects, particularly in the oil and gas sector.
The sacking of Umar is expected to have significant implications for the NIPC and its operations. The immediate challenge facing the commission is the task of finding a suitable replacement for Umar. The new CEO will need to hit the ground running to ensure that the commission continues to attract foreign investments into the country.
The removal of Hajiya Saratu Umar as the CEO of the NIPC is a significant development that is likely to have far-reaching consequences for the commission and the Nigerian economy as a whole. It is important for the government to ensure that the appointment of a new CEO is based on merit and not political considerations. This will go a long way in restoring investor confidence in the commission and in the Nigerian economy
