President Bola Ahmed Tinubu has approved the appointments of Mrs. Eyitope Kola-Oyeneyin and Mr. Muhammad Hadi Mutallab as Board Chairpersons for the Nigerian Investment Promotion Commission (NIPC) and the Nigerian Export Processing Zones Authority (NEPZA), respectively. The Federal Ministry of Industry, Trade and Investment (FMITI) announced these appointments on July 13, 2026.
The ministry stated that these appointments are non-political, underscoring the administration’s dedication to fortifying governance in critical economic institutions through experienced private-sector leadership. The new board chairpersons are expected to provide strategic guidance, enhance oversight, strengthen accountability, and support the effective execution of their agencies' mandates.
The FMITI emphasized that these appointments highlight the Federal Government’s commitment to reinforcing strategic institutions vital for driving Nigeria’s industrialization, investment promotion, and non-oil export agenda. This aligns with ongoing efforts to attract investment, boost exports, and solidify Nigeria's position as a destination for international capital.
Mrs. Kola-Oyeneyin brings over 25 years of experience as a transformation executive, advising financial institutions, regulators, governments, and investors across Africa. She is the Founder and Managing Partner of Augmentum Advisory, a firm focused on large-scale transformation initiatives through technology, capital mobilization, and execution support.
Prior to establishing Augmentum Advisory, she was a Partner and Head of the Eastern Europe, Middle East and Africa (EEMA) Payments Practice at McKinsey & Company between 2017 and 2023, where she led engagements across the financial services sector. Her professional experience spans multiple African markets, including Ghana, Senegal, Guinea, South Africa, the Democratic Republic of Congo, Uganda, The Gambia, and Sierra Leone.
Kola-Oyeneyin currently serves as an Independent Non-Executive Director at MTN Nigeria. She holds a Master of Science degree in Management Science and Engineering from Stanford University and a Bachelor of Science degree in Industrial Engineering from the University of Central Florida, where she graduated Magna Cum Laude. She is also a recipient of the prestigious U.S. National Science Foundation Graduate Fellowship.
Mr. Muhammad Hadi Mutallab offers extensive entrepreneurial and investment experience across various sectors, including maritime, oil and gas, logistics, construction, real estate, finance, and agric-tech. He founded Dattaku Global Investment Limited in 2012, growing the business from an initial capital base of $10,000 to assets exceeding $1 million.
Mutallab also served as Managing Director of Incar Petroleum Nigeria Plc, where he significantly diversified the company’s operations and increased revenue streams within three years. At Equatorial Marine Oil & Gas Limited, he played a key role in securing strategic logistics and freight contracts that contributed to sustained revenue growth.
In the agricultural technology sector, he founded Farm to You Limited, a platform connecting consumers directly with fresh agricultural produce. He also established the FTY Innovation Hub, which supports startups across Northern Nigeria through funding, mentorship, and product development. He currently serves on the boards of several organizations in banking, maritime, logistics, education, oil and gas, and real estate.
These appointments coincide with recent efforts by Nigeria to deepen international economic cooperation, including the signing of a Double Taxation Agreement (DTA) with Hong Kong. This agreement aims to eliminate double taxation, prevent tax evasion, and encourage cross-border trade and investment.
