Investment climate of Nigeria

Nigeria is Africa’s most populous nation that offers investors abundant natural resources, a low-cost labor pool and potentially the largest domestic market in sub-Saharan Africa.

The Nigerian economy continues to grow strongly and continues on track to become the largest in Sub-Saharan Africa. Over the past six years, Nigeria has experienced strong real Gross Domestic Product (GDP) growth averaging 6.6 %.

Nigeria ranks as Africa’s largest oil producer and the twelfth largest in the world, producing high value, low-sulphur content crude oil and the Government is trying to attract more investors in the country hence development.

The Nigerian economy is heavily dependent on its oil sector, which accounts for over 95 percent of export earnings and about 40 percent of government revenues, according to the International Monetary Fund (IMF). The agriculture sector in Nigeria accounts for over 40 percent of GDP and sustains over 80 percent of rural households.

Regulatory Framework

Nigeria Investment Promotion Commission

The Nigerian Investment Promotion Commission (NIPC) is a Federal Government Agency in Nigeria established by the NIPC Act of 1995 to promote, co-ordinate and monitor all investments in Nigeria.

Mandate

The Commission is mandated to encourage, promote and co-ordinate investment in the Nigerian Economy by;

  • Attract investments in and outside Nigeria through promotional means
  • Register and keep records of all enterprises as applicable
  • Advice the Federal Government on policy matters including fiscal measures designed to promote the industrialization of Nigeria
  • Serve as a coordinating and approval centre at the Federal level, for all governmental approvals with respect to the establishment and operation of industries or business undertakings, and with respect to the operation of governmental measures and schemes aimed at promoting industrialization of the Country

Investment policy

Investment Policy review examines Nigeria’sachievements in developing an open and transparent investment regime and its efforts to reduce restrictions in investment.

Investment Climate in Nigeria has been summarized to include the following

International Trade Agreements with Nigeria
Investment Authority of Nigeria
Investment guarantees in Nigeria
Inestment Incentives in Nigeria
Investment opportunities in Nigeria
Development partners of Nigeria
Double taxation agreements involving Nigeria
Nigeria’s Key Exports
Natural Resources of Nigeria
The Nigerian Stock exchange
Shipping Status
Nigeria Manufacturers Association

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