President Bola Tinubu has appointed Eyitope Kola-Oyeneyin, a former partner at global management consulting firm McKinsey & Company, as the new chairperson of the Nigerian Investment Promotion Commission (NIPC). The appointment was announced in a statement by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, on Thursday, July 14, 2026.
Background and Experience
Kola-Oyeneyin brings over two decades of experience in strategy, investment, and economic development to the role. At McKinsey, he led numerous projects across Africa, focusing on private sector development, infrastructure financing, and public-private partnerships. He also served as a senior advisor to several governments on investment climate reforms.
Before joining McKinsey, Kola-Oyeneyin worked at the International Finance Corporation (IFC), a member of the World Bank Group, where he advised on investment policy and project finance. He holds a Master's degree in Public Administration from Harvard University and a Bachelor's degree in Economics from the University of Lagos.
Immediate Impact
The appointment takes effect immediately. The NIPC is the primary government agency responsible for promoting, coordinating, and monitoring investments in Nigeria. Kola-Oyeneyin is expected to lead efforts to attract foreign direct investment (FDI) and improve the ease of doing business in the country.
According to the statement, the President expects Kola-Oyeneyin to leverage his extensive network and expertise to reposition the NIPC as a catalyst for economic growth. Nigeria has been striving to boost FDI inflows, which declined by 27% in 2025 to $3.2 billion, according to the National Bureau of Statistics.
Reactions and Expectations
Industry stakeholders have welcomed the appointment. Dr. Muda Yusuf, Director of the Centre for the Promotion of Private Enterprise, said: “Kola-Oyeneyin’s pedigree at McKinsey and the IFC gives him a unique understanding of what investors need. His appointment signals a serious commitment to improving Nigeria’s investment climate.”
Kola-Oyeneyin is expected to unveil a new strategic plan for the NIPC within the next 90 days, focusing on sector-specific investment promotion, streamlining regulatory processes, and enhancing investor aftercare services.
