The statutory functions of the Corporation include the following:
- To coordinate and monitor all investment promotion activities in the State.
- To determine and advise on policies that will best promote the accelerated industrialization and multi-sectorial investment to diversify the economy and enhance the State productive capacity.
- To provide information and data about investment opportunities and sources of capital investment in the State and advise on joint venture projects development.
- To carry on the business of an investment trust and holding company and control all the investment and securities of the State Government in various companies, Parastatals and other bodies.
- To articulate and supervise the reactivation of industries and business concern in which Government has interest or shares.
- To liaise with other States, federal and international organizations such as Bureau for Public Enterprises, Nigerian Investment Promotion Commission, Small and Medium Enterprises Development Agency of Nigeria, Nigerian Export Promotion Commission, Bank of Industry, Nigerian Export-Import Bank, United Nation Industrial Development Organisation to enhance economic development in the State.
- To liaise with the State Ministries, Departments and Agencies initiating investment projects to allow for smooth take-over of such investment at the financial close.
- To undertake the preparation of State-owned enterprises for the capital market through initial public offer or private placement or venture capital as part of government’s exit strategy.