- Tinubu appoints Eyitope Kola-Oyeneyin and Muhammad Hadi Mutallab as chairpersons of the governing boards of NIPC and NEPZA.
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The federal government describes the appointments as non-political, saying they are aimed at strengthening institutional governance and strategic oversight.
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Kola-Oyeneyin brings extensive experience in investment, banking, strategy consulting and digital transformation, while Mutallab has a background in finance, agribusiness and corporate governance.
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New boards are expected to drive investment promotion, industrialisation and non-oil exports, supporting the Tinubu administration’s Renewed Hope Agenda and economic diversification efforts.
President Bola Tinubu has approved the appointment of Eyitope Kola-Oyeneyin and Muhammad Hadi Mutallab as Chairpersons of the Governing Boards of the Nigerian Investment Promotion Commission (NIPC) and the Nigerian Export Processing Zones Authority (NEPZA), respectively, as part of efforts to strengthen the governance of two strategic institutions driving Nigeria’s investment, industrialisation and non-oil export agenda.
The appointments were announced by the Federal Ministry of Industry, Trade and Investment (FMITI) in a statement shared via the Presidency’s official X handle.
The ministry described the appointments as non-political, noting that they were intended to provide experienced leadership to enhance institutional governance and improve the effectiveness of agencies central to the country’s economic transformation.
“The Federal Ministry of Industry, Trade and Investment (FMITI) is pleased to announce that His Excellency, President Bola Ahmed Tinubu, GCFR, has approved the appointment of the board chairpersons for the Nigerian Investment Promotion Commission (NIPC) and the Nigerian Export Processing Zones Authority (NEPZA)”, the statement read.
According to the ministry, the newly constituted boards will provide strategic direction, strengthen institutional oversight, improve accountability and support the effective implementation of the statutory mandates of both agencies.
FMITI explained that the NIPC Governing Board would support the commission’s mandate to promote and facilitate domestic and foreign investments in Nigeria, while providing policy guidance to improve the country’s investment climate.
Similarly, it said the NEPZA Governing Board would strengthen oversight of the authority’s responsibility for developing, regulating and promoting Nigeria’s Export Processing Zones and Special Economic Zones as catalysts for industrial development, export expansion, technology transfer and job creation.
“The appointments underscore the Federal Government’s commitment to strengthening the governance of strategic institutions that play a critical role in driving Nigeria’s industrialisation, investment promotion and non-oil export agenda”, the ministry stated.
It added that it looked forward to working with the new chairpersons to deepen reforms, improve institutional performance, attract greater domestic and foreign investments and accelerate inclusive economic growth in line with President Tinubu’s Renewed Hope Agenda.
The appointments come as the Federal Government continues to pursue reforms aimed at improving the ease of doing business, diversifying the economy away from oil dependence and positioning Nigeria as a preferred investment destination in Africa.
Experienced Private-Sector Leaders
Kola-Oyeneyin, popularly known as Topsy Kola-Oyeneyin (TKO), is a leading strategy, investment and digital transformation expert with more than two decades of experience spanning management consulting, banking, financial technology and public policy.
She is the Founder and Managing Partner of Augmentum Advisory, a strategy and transformation consulting firm serving clients across Africa.
Before establishing the firm, she spent several years at McKinsey & Company, where she became a Partner and co-led the firm’s Payments and Financial Technology Practice across Eastern Europe, the Middle East and Africa.
She also previously headed the International Banking Business at First Bank of Nigeria and played advisory roles in landmark financial sector reforms, including Nigeria’s Cashless Policy and the Shared Agent Network Expansion Facility (SANEF), initiatives that significantly expanded financial inclusion across the country.
In 2025, she was appointed an Independent Non-Executive Director of MTN Nigeria.
Kola-Oyeneyin holds a Master’s degree in Management Science and Engineering from Stanford University and is widely recognised for her expertise in investment promotion, innovation, corporate strategy and economic transformation.
Her appointment is expected to reinforce the NIPC’s mandate of attracting domestic and foreign direct investment, improving Nigeria’s investment climate and positioning the country as a competitive destination for global capital.
Mutallab, who will chair the NEPZA Governing Board, is an economist, entrepreneur and corporate executive with extensive experience in finance, investment, agribusiness and corporate governance.
He currently serves as a Non-Executive Director of Jaiz Bank Plc, where he contributes to strategic oversight and corporate governance. His business interests span logistics, agriculture and value-chain development through ventures including Farm To You Ltd and Dattaku Integrated Services.
Mutallab is regarded as an experienced private-sector executive whose expertise is expected to strengthen NEPZA’s role in promoting export-oriented industrialisation, expanding Nigeria’s Special Economic Zones and attracting investment into export-focused industries.
The Nigerian Investment Promotion Commission is Nigeria’s principal investment promotion agency, responsible for encouraging, coordinating and facilitating investments into the country, while the Nigerian Export Processing Zones Authority oversees the development and regulation of Export Processing Zones and Special Economic Zones established to boost manufacturing, exports, technology transfer and employment.
The appointments underscore the Tinubu administration’s continued reliance on experienced private-sector professionals to drive reforms across key economic institutions, as the government seeks to accelerate industrial growth, increase non-oil exports and attract greater domestic and foreign investment under its Renewed Hope Agenda.
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