iGuide Nigeria

Introduction

Types of Businesses

The following forms of companies are recognised for business in Nigeria:

Business Incorporation Process

Businesses can be registered online via the CAC Company Registration Portal. Through this site, investors – or their agents – can conduct name searches, complete the required forms, submit all relevant incorporation documents, and also pay associated fees. However, investors may also visit the CAC office or the One-Stop Investment Centre (OSIC) of the Nigerian Investment Promotion Commission (NIPC) to complete or submit paper applications.

The online registration process is laid out below:

1. Create an account on the CAC portal. This can only be created by one of the company directors/shareholders or an accredited agent (a Lawyer, Chartered Accountant or a Chartered Secretary)  https://services.cac.gov.ng/
2. Conduct name search and reserve a name.
3. Complete registration form (CAC 1.1. Application for Registration) providing details of the directors, shareholders and nature of business.
4. Pay CAC filing fees and stamp duty. The stamp will be electronically affixed once payment is made.
5. Download completed online form and Memorandum and Articles of Association, then append signatures accordingly.
6. Upload scanned documents for processing.
7. Present original copies of uploaded documents and collect certificate of incorporation/registration from the preferred location. Once the certificate of incorporation is ready, a Tax Identification Number (TIN) will be generated by the Federal Inland Revenue Service and sent to registrant's email.

Exemption from Incorporation

In accordance with Section 788(2), a Foreign Limited Liability Partnership (LLP) may apply for exemption from incorporation if it is a: 

1.   LLP invited to Nigeria by or with the approval of the Federal Government to execute any specified individual project. 

2.   LLP in Nigeria for the execution of specific individual loan projects on behalf of a donor country or international organization. 

3.   LLP owned by a foreign government and engaged solely in export promotion activities. 

4.   An engineering and technical expert engaged on any individual specialist project under contract with any of the governments in the Federation or any of their agencies or with any other body or person, where such contract has been approved by the Federal Government. 

Such applications for exemption shall be forwarded to the office of the Secretary to the Government of the Federation (SGF).

Registration with NIPC

One-Stop Investment Centre (OSIC)

The One-Stop Investment Centre (OSIC) brings together relevant government agencies to one location to provide fast-tracked services to investors. The Centre is coordinated by the NIPC. The objective of the Centre is to simplify business entry processes by removing administrative and regulatory bottlenecks pertaining to doing business in Nigeria. The Centre presently has twenty-seven (27) participating agencies.

Services at OSIC

Specifically OSIC provides the following services: Granting of business entry approvals, licenses and authorizations within the shortest possible time; Provision of general information on the Nigerian economy, investment climate, legal and regulatory framework, as well as sector and industry-specific information to aid existing and prospective investors in making informed business decisions; and Facilitation and follow-up services on behalf of investors in all government ministries, departments and agencies.

Environmental Impact Assessment

The procedures for obtaining EIA Certificate are outlined below:

1. Applicant (i.e.approved company representative) submits a comprehensive project proposal and completed EIA Notification form to the Ministry of Environment.
2. The Ministry registers the proposal and issues a registration number while providing necessary guidelines to the applicant.
3. NESREA conducts an Initial Environmental Examination (IEE) and presents a screening report within 10 days.
4. Applicant conducts a scoping exercise to ensure that all significant impacts and reasonable alternatives are addressed in the intended EIA. A public hearing may be requested if there is public interest in the project.
5. The applicant submits the scope of the EIA, and if approved by NESREA, undertakes the EIA study.
6. The applicant submits the draft EIA report. This should include proceedings of consultations with adjoining communities and other stakeholders.
7. The draft EIA report is reviewed by an independent panel, relevant regulators and the public (the report is displayed in the public for a period of 21 working days.)
8. Applicant develops and submits the final EIA report, incorporating all review comments.
9. Ministry approves final EIA report; issues the Environmental Impact Statement (EIS) and the EIA Certificate
10. Applicant proceeds to implement the project according to specifications and stipulated mitigation measures contained in the final EIA report. This process shall be monitored by the Ministry from site preparation to commissioning.

See Link: Environmental Guidelines Revision

What Investors Think

Investors commends the 24hrs turn around time for Enterprise incorporation; they agree that this has streamlined the business entry process. However, they look forward to full automation of the process.

Population and Skills

Higher Education

Higher Education in Nigeria is provided by public and private sector-owned universities, polytechnics, monotechnics, colleges of education and professional institutions. 

Nigeria has the largest university system in Sub-Saharan Africa; its 154 universities offer several graduate programs and produce most of its skilled professionals. A Joint Admissions and Matriculation Board administers a national university entrance examination and informs universities of applicant scores.

There are 113 polytechnics in Nigeria. These run 2-year programmes leading to the National Diploma and Higher National Diploma (HND). 1 year of practical experience is required before admission into the HND programme.

85 colleges of education offer Teacher Training Programmes, leading to the award of the Nigeria Certificate in Education (NCE), the minimum teaching qualification, obtainable after 3 years of study.

The National Youth Service Corp (NYSC) is a mandatory one-year of service by Nigerian graduates. The service year includes a three-week camp with paramilitary training followed by formal sector work for the rest of the year while engaging in community developments. The NYSC certificate is a requirement for obtaining subsequent employment in the country.

Several professional Institutions regulate different occupational fields, most of them administering certification examinations to members according to their charter.  Passing these exams is considered a professional accomplishment which validates the competence of individuals in their respective fields.

Employment and Contracts

The 1999 Constitution of the Federal Republic of Nigeria provides for “equal pay for equal work without discrimination on account of sex, or any other grounds whatsoever”. An employer is required to give to each employee a written contract within 3 months of engagement stating the particulars of the employer and the employee, the position and job description/functions, terms and conditions of the contract, confidentiality clauses, intellectual property rights, hours of work, remuneration, holiday and holiday pay, etc.

A typical workday comprises 8 hours from Mondays to Fridays, except on public holidays; however some businesses work on Saturdays.

An employment may be terminated if the parties to the contract jointly agree to do so. Generally, however, for an employment to be unilaterally terminated, a notice of termination (based on the terms of the contract of employment and/or the circumstances surrounding the employment) must be given or salary paid in lieu of such notice.

An employer may dismiss an employee where there is a fundamental breach of the employment contract. Employers are encouraged to itemise examples of cases that could lead to dismissal and inform the employees through their employment contract. No compensation is usually payable upon a valid dismissal.

The Federal Ministry of Labour and Employment (FMLE) is responsible for industrial relations in general, including conciliation in labour disputes, technical training (through the Industrial Training Fund), manpower development, safety and welfare in the workplace, and supervision of trade union activities.

Registration of Factories

Every person who occupies or intends to occupy a factory is mandated to apply for registration to the Director of Factories who shall issue a certificate of registration if the proposed factory is suitable. Employers are compelled under the Factories Act to protect workers against industrial hazards and display an extract of the Act in their factory premises.

Wages

The National Minimum Wage is N30,000 per month. An employer is mandated to keep proper records of the wages and conditions of employment and to retain such records for three (3) years.

Non-wage Benefits

Leave

Employees are entitled to annual leave with full pay of at least twelve (12) working days (for persons under the age of 16 years, including apprentices) and 6 working days for older employees.

Other paid holidays and vacations include public holidays and maternity leave - which are normally fully paid. Maternity leave is typically three (3) months paid leave while paternity leave (though not common) is usually 2 to 5 days of paid leave.  Nursing mothers are allowed half an hour twice a day to attend to their babies.

Sick Leave: An employee is entitled to a maximum of twelve (12) working days of paid sick leave in any calendar year, provided this sickness is certified by a registered medical practitioner.

Social Security and Other Contributions

Contributory Pension Scheme

Under the Pension Reform Act of 2014, employers and employees are required to make a minimum contribution of 10% and 8% respectively of the employee's monthly emoluments to a Pension Fund Administrator chosen by the employee. In addition, an employer is also required to maintain a Group Life Insurance Policy for each employee for a minimum of three times the annual total emolument of the employee.

Employee Compensation Scheme

The Employee Compensation Act (ECA) provides for adequate compensation for employees or their dependants in the event of death, injury, disease or disability arising out of, or in the course of employment. The Act is also intended to provide for safer working conditions for employees, by ensuring that all relevant stakeholders contribute to the prevention of occupational hazards and disabilities. To this end, employers are required to contribute 1% of their payroll costs to the National Social Insurance Trust Fund (NSITF) to cover employees from work-related accidents and death.

National Housing Fund

The NHF seeks to facilitate the provision of houses to Nigerians at affordable prices. Employers are required to deduct 2.5% of employee’s basic salary and remit same to the Federal Mortgage Bank of Nigeria within one month of such deduction.

Health Insurance Scheme

The National Health Insurance Scheme (NHIS) provides all employees access to affordable health care. Companies with a minimum of ten (10) staff are expected to provide health insurance for their staff and their dependants.

National Health Insurance Scheme

Industrial Training Fund

The ITF was established to promote the acquisition of skills in industry and commerce with a view to generating a pool of indigenous trained manpower sufficient to meet the needs of the economy. Employers are required to contribute 1% of annual payroll costs to the ITF, if they

• have five (5) or more employees or an annual turnover of ₦50million and above;
• bid for or solicit contracts, businesses, goods and services from public and private establishments;
• require approval for Expatriate Quota; or
• utilise Customs services for import and export.

However, the ITF Governing Council may refund of up to 50% of an employer’s contributions if he submits evidence of providing relevant training to his employees.

Work Permits

Expatriate Quota

The Immigration Act, 2015 precludes any person other than a Nigerian citizen from accepting employment (not being employment by the Federal or State Government) without the consent in writing of the Minister of Interior. This consent is issued in the form of an Expatriate Quota (EQ) which permits companies to employ expatriates to specific job designations, and also specifies the duration of such employment.

An Expatriate Quota is granted for an initial period of three (3) years. It can however be renewed for further periods of two (2) years each subject to a maximum of ten (10) years. Limited quota positions are granted as Permanent until Reviewed (PUR) for senior executive positions such as the Chief Executive, Managing Director, or General Manager.

The Citizenship and Business Department of the Federal Ministry of Interior (FMI) is responsible for handling Expatriate Quota applications. The process may also be facilitated by the FMI desk at the One Stop Investment Centre (OSIC). 

The procedure and fees for obtaining the EQ (through NIPC) are outlined below:

• Pay the online registration and processing fees through the FMI portal ;
• Collect the Application Form (Business Form T1) from the FMI Business Department after payment has been confirmed;
• Submit the company's application letter to the Permanent Secretary through OSIC Desk Office attaching all the required documents as  listed below;
• Pay approval fee through the FMI portal. The total cost will depend on the number of expatriate quotas approved;
• Collect the letter of approval from the Business Registry. This can be done by a company representative with valid identification.

Items	Fees (NGN)
Online Registration fee	51,000
Processing Fee	30,000
Business Permit	100,000
Each approved EQ slot	30,000
Renewal of each EQ slot	20,000

Note:

• Applicant must be a registered company in Nigeria with a minimum share capital of N10 million
• The estimated time frame for processing Expatriate Quota is 14 working days.

Subject to Regularisation (STR) visa

Once an EQ approval is granted, the expatriate concerned must obtain a Subject to Regularization (STR) visa from the Nigerian Mission in his country of residence. The STR is issued to expatriates coming to work in Nigeria based on the EQ approval. The process for applying for the STR is listed below:

• Complete and print two copies of the online visa application form (IMM22).
• Make online payment via www.immigration.gov.ng and print the payment receipt.
• Affix two (2) passport-sized photographs to the completed visa form and submit along with required documents in person or via post to the Nigerian Mission in the country of applicant’s residence.

An STR application is processed within seven (7) days. Visa fees are not fixed, however the Immigration Facilities Handbook 2017 contains the schedule of visa fees per country.

Combined Expatriate Resident Permit and Aliens Card

Within ninety (90) days of arrival in Nigeria, the expatriate is expected to apply to the Nigerian Immigration Service (NIS) – through his employer – for a Combined Expatriate Resident Permit and Aliens Card (CERPAC). The employer must undertake to bear full immigration responsibility on behalf of the expatriate. The NIS assesses each application on its merit in line with the applicant’s qualifications, and takes a decision on the application. The CERPAC is valid for two years but can be renewed annually provided the Expatriate Quota is still valid and there are vacant positions.

CERPAC applications are processed within five (5) working days, and cost $1,000 per annum for all categories of expatriates.

Other Permits

The following permits are also available to foreigners coming into Nigeria for business or work:

Business Visa

This is issued mainly to foreign business men and investors to enable them attend business meetings in Nigeria. It is obtainable at Nigerian Missions but may also be issued on arrival (See Visa on Arrival below). It is valid for 90 days - not extendable - but not for employment.

Temporary Work Permit (TWP)

A TWP is issued to experts invited to perform highly technical and short-term assignments such as installation and repair of equipment, commissioning, conducting specialized training, etc. It is a single-entry visa which is valid for 90 days but may be extended while in-country. The host company shoulders immigration responsibilities of such an expatriate throughout the period of stay in Nigeria.

Visa on Arrival (VoA)

This is available to frequent travellers, high net-worth investors or visitors who may not be able to obtain Nigerian visas due to the absence of a Nigerian mission in their countries or exigencies of business travels. However, the traveller must have obtained a ‘Visa on Arrival Approval Letter’ before commencing travel. Investors may apply for this approval through the Immigration Desk at the NIPC OSIC or by sending an email to oa@nigeriaimmigration.gov.ng. The VoA approval letter is issued within 48 hours and is valid for 14 days. Upon arrival in Nigeria, the traveller will pay (or show evidence of online payment) for, and be issued, the visa.

ECOWAS Residence Card

Citizens of countries that are members of the Economic Community of West African States (ECOWAS) can reside and work in Nigeria without residence permits; they are however required to apply for the ECOWAS Residence Card within 90 days of their arrival in Nigeria.

Taxation of Expatriates

An expatriate is liable to tax in Nigeria if his employment costs are recharged to a Nigerian company; or he is in Nigeria for up to 183 days in a year (including leave and temporary absence); or where he is not liable to tax in another country which has a double tax agreement with Nigeria.

What Investors Think

Investors are optimistic about the quality of labour in Nigeria. They describe Nigerians as highly productive, fast learners, who can match anyone anywhere in the world. They however observed that in some instances, especially highly technical fields, they have to invest extensively in training new staff before they can get the desired quality of work from such staff.

Electricity

Coverage area and average tariffs per distribution company

Distribution Company	Coverage Area	Average Tariff (Kilowatt per hour)
Abuja	Abuja, Nassarawa, Niger, Kogi	NGN 33
Benin	Edo, Delta, Ondo, Ekiti	NGN 33
Eko	Lagos South & Agbara (Ogun)	NGN 28
Enugu	Anambra, Enugu, Abia, Imo, Ebonyi	NGN 35
Ibadan	Oyo, Ogun, Osun, Kwara	NGN 31
Ikeja	Lagos North	NGN 27
Jos	Plateau, Bauchi, Gombe, Benue	NGN 34
Kaduna	Kaduna, Kebbi, Sokoto, Zamfara	NGN 33
Kano	Kano, Jigawa, Katsina	NGN 30
Port Harcourt	Cross River, Akwa Ibom, Rivers, Bayelsa	NGN 34
Yola	Adamawa, Yobe, Borno, Taraba	NGN 27

In order to improve power supply, NERC has developed a regulation on embedded generation which allows for power generation plants (including renewable energy) to be directly connected to and evacuated through a distribution network. It provides a window for investors, communities, state and local governments to generate and sell/utilize power without going through the transmission grid. In addition, the commission developed a mini-grid regulation which seeks to provide an improved power supply in un-served and under-served locations in the country, especially the rural communities.

Rural Electrification Agency (REA)

REA is a Federal Government Agency saddled with the responsibility of providing electricity to rural communities in Nigeria. Here, you will find information on the Agency’s activities, event line up and rural electrification projects.

The Rural Electrification Goal of the Federal Government of Nigeria is to increase access to electricity to 75% and 90% by 2020 and 2030 respectively and at least 10% of renewable energy mix by 2025, fully utilizing the Rural Electrification Policy (2005) & National Electric Power Policy (2001). Rural Electricity Users Cooperative Societies (REUCS) are expected to own, operate, and maintain Rural Electricity Systems mainly in Cooperation with DisCos and other professional private sector companies providing the know-how required to operate such systems. It is REA’s sustainability platform.

Water

The table below shows the water rates in Lagos and the Federal Capital Territory (FCT)  

	FCT Water		Lagos State
	Metered Rate	Flat Rate	Metered Rate	Flat Rate
Commercial Premises	$0.41 per m3	$83.5/month	$0.97 per m3	5.56*/month
Domestic Premises	$0.22 per m3	$11/month	$0.70 per m3	$2.78*/month

*Flat rates in Lagos are dependent on the property size. The above flat rate billing applies to standard 3-bedroom properties and will increase according to the size of the property.

Telecommunications

Relevant Links: Tariff Information for major GSM companies, Internet Service Providers in Nigeria, Subscriber statistics for mobile and fixed telephony services

Road network

Railway

Nigeria's railway system has 3,505 route kilometres and 4332 track kilometres, most of which is Cape gauge. The country has two major rail lines: a western line connecting Lagos to Nguru in Yobe state, and an eastern line connecting Port Harcourt to Maiduguri.

The Lagos–Kano Standard Gauge Railway is being built in segments to replace the Western Cape gauge line. The Abuja-Kaduna line (186km) has been completed and commissioned; the Ajaokuta to Warri Line (277km) is nearing completion, while work has commenced on the Lagos – Ibadan line (180km).

10 new standard gauge rail lines are currently being planned, and these will cover a travelling distance of 3,421 km when completed. The Abuja – Kaduna rail is Nigeria’s first high speed rail, travelling at 150km/h.

Several metro systems – such as the Abuja Light Rail, Lagos Rail Mass Transit and Rivers Mono Rail - are under construction, while the Calabar Mono rail was commissioned in 2017.

Aviation

The Federal Airports Authority of Nigeria operates five (5) international airports, located in Abuja, Lagos, Kano, Port Harcourt and Enugu as well as eighteen (18) domestic ones. Passenger traffic at these airports in 2016 alone was 15 million.

Nigeria has bilateral air services agreement with eighty-eight (88) countries, with direct flights to North America, several European and African countries as well as connecting flights to the rest of the world.

The existing airport infrastructure is being expanded, and eleven (11) airports are currently being upgraded to international standards.

Maritime

Nigeria has 8,600 km of inland waterways. The longest are the Niger River and its tributary, the Benue River but the most used, especially by larger powered boats and for commerce, are in the Niger Delta and along the coast from Lagos Lagoon to Cross River. Major transportation routes link the six major sea ports - Apapa, Tincan, Warri, Port Harcourt, Onne and Calabar – and other river ports and jetties.

There are 10 crude oil terminals. Nigeria records about 2,000 petroleum vessels, 35,000 vessels (excluding tankers) and cargo (excluding crude) averaging 80 million tons annually.

Twenty eight (28) of the nation’s thirty-six (36) states can be accessed through water. Nigeria can also link five neighbouring countries – Benin Republic (Port Novo), Equatorial Guinea, Cameroon, Chad and Niger Republic by water.

Current initiatives in the maritime sector include capital and infrastructure improvement, channel dredging and maintenance and installation of safety facilities aimed at increasing the share of water transportation. Nigeria is currently expanding existing ports and building 5 deep sea ports in Lagos, Ogun, Delta, Bayelsa and Akwa Ibom states, one of which is expected to be the largest in Africa.

Opportunities in the Nigerian Maritime Sector

Thus, emerging opportunities in the Nigerian maritime sector include the following:

1. Manpower and Human Capacity Development:

The maritime industry is highly labour and capital-intensive, and as such requires adequate funding, government support and policy consistencies to solve the manpower challenges it currently faces in Nigeria. One of the areas of Focus of the Federal Ministry of Transportation is ensuring adequate human capital development in the sector with special intervention for seafarers development to close up the existing gap in the industry. Recently NIMASA sponsored a total of 289 cadets for sea time (on board training) in Europe and Egypt under the Nigeria Seafarers Development Programme NSDP. Recent government efforts to fund the establishment of maritime institutions across the country are welcome developments that are worthy of commendation. Interventions such as this will definitely boost manpower development in the industry. Equally, collaboration between the various agencies in the industry, in carrying out their responsibilities, will raise the operational performance and efficiency of the sector.

2. Maritime Infrastructural Development:

A number of factors are responsible for the development of seaports and the supportive logistics infrastructure in Nigeria. This emphasises that maritime infrastructural development is a function of reaction to economic dynamics and global changes, which currently requires the urgent need to restructure and reposition for efficiency and functionality. In Nigeria, maritime infrastructural development, especially seaports, is often determined by:

• Increase in merchandise trade, particularly seaborne trade, which suggests for either the modernisation or expansion of port infrastructure and facilities; 
• Congestions or delays in the rendering of services, as a result of operational inefficiency, overutilisation of port capacity and shortage in human capacity;
• Technological innovations put in place to support manpower (in terms of containerisation, roll-on-rolloff needs, very large tanker vessels, draft level) and/ or;
• International conventions compelling signatory nations to effect and respond to developments. These determinants mentioned above somehow justified the response of the Federal Government to maritime and port-related infrastructure development, either through policy reforms, improvement in foreign direct investment, increased production volumes of crude oil and gas, environmental safety, financing, especially the Cabotage Vessel Finance Fund (CVFF) and shipyard building and repairs.

3. Globalisation and the Application of New Technology:

The application of innovative technology is possibly the strongest determinant of development in any maritime industry. From operational re-engineering to the architectural design of vessels, and dredging in an attempt to increase water draft levels within complex international trade development, there is indeed heavy reliance on technological interventions, as they affect virtually every aspect of maritime transportation. There is need for a constant response to the dynamics of technology and the globalisation tendency by the Nigerian government, all in an attempt to pursue sustainable maritime industry growth that could support international trade.

4. Maritime Research and Development:

There are numerous areas of research need associated with the maritime industry. NIMASA has established various maritime institutions designed to provide maritime education and research support to the industry. However, the absence of training vessels for practical application of theoretical knowledge remains a major setback, as this is imperative for professional qualification in the industry. The establishment of national fleets is suggested to provide onboard experience to prospective seafarers. Also, industry operators/stakeholders should be incentivised to conduct research that would benefit the industry, while more joint venture partnerships with foreign companies should be entered into, to facilitate the exchange of research ideas.

5. Maritime Security:

The International Maritime Bureau reports that in 2016, the Nigerian waters were largely unsafe due to the persistence of kidnapping incidents, as a direct result of the presence of pirates on these waters. While some progress has been made in boosting security in this area so far, there is still the need for greater focus in the efforts of security agencies in curtailing the occurrence of these incidents. There has been the renewed push for the naval police and Maritime Patrol Aircraft to be adequately equipped with modern arms and vehicles for the effective containment of criminal elements in our waters.

There is an equally the intensified drive for continuous investment in maritime security, as well as the creation of an enabling environment for the attraction of investors through maritime tourism and marine agriculture, towards sustainable development.

6. Marine Agriculture:

The increasing demand for food and water creates an opportunity for mariculture as a result of Nigeria‘s growing population, without an increasing pressure on terrestrial and marine habitats. Aquaculture, done well, offers a huge potential not just for producing food, but also providing livelihoods to coastal communities and in the effort to recover lost ecosystem services. The development of marine agriculture would be enhanced by improved security, the ratification and implementation of Port State Management Agreement (PSMA) and the formulation of a protectionist policy for investors-all presently being considered by the relevant authorities.

7. Marine Insurance:

In spite of the rapid growth of Nigeria‘s maritime sector, existing marine insurance products available in the country are considered to be primarily simple in structure and may not suit the needs of the fast-changing global market. In this respect, marine insurance companies could offer innovative products to provide comprehensive insurance solutions and innovative marine insurance products in order to serve Nigerian interests in overseas markets better. In this respect, any insurance company in Nigeria with the experience of insuring infrastructural projects, such as ports and related infrastructure development, should find a wealth of opportunities in offering tailor-made and advanced insurance products suitable for serving the needs of the shipping community.

8. Marine Tourism:

Tourism demand is increasing worldwide, and there are opportunities for investors and the government to exploit Nigeria‘s coastal and maritime resorts for revenue generation and job creation. These opportunities include the creation of a marine mall, cruise ships and the fostering of marine sports. With the enabling government policies, improved security, and enhanced safety operations driving the growth of marine tourism, this can be a huge area of opportunity going forward. .

9. Waste Management:

Control of the negative environmental impacts of a construction project in a marine environment, ensuring the pro-activity of the infrastructures and seizing the benefits associated with their presence at sea, in order to enhance specific ecological functions and marine biodiversity is also an area of opportunity in the maritime industry in Nigeria. These services include the design, construction, and supply of solutions for the restoration and enhancement of marine biodiversity, ecological integration of maritime infrastructures, support of fisheries and leisure activities, ecological restoration of damaged marine areas and coastal adaptation to climate change. These opportunities would be driven by improved policy development in terms of remediation for safety and management. Till date any discussion of the Nigerian ocean economy is narrowed down to the traditional domain of shipping, fishing and offshore oil and gas. Critical issues for the next three years in this regard, include:

ii. Mapping and Development of Marine Ecosystems

iii. Mapping and Development of Ocean Economy Intermediaries

Transport Costs

The table below shows indicative freight rates of laden containers to and from major trading routes.

SIZE OF CONTAINER                        10FT                           15FT                         20FT                           40FT

TRADE ROUTES	IMPORT	EXPORT	IMPORT	EXPORT	IMPORT	EXPORT	IMPORT	EXPORT
East/South Africa	$1,200	$409	$2,439	$817	$2,439	$817	$3,642	$1,581
North/West Africa	$392	$413	$782	$817	$782	$817	$2,202	$ 1,595
Europe/Middle East	$1,058	$635	$2,115	$1,270	$1,270	$2,115	$3,402	$1,654
South America/ Mexico	$1,203	$903	$2,405	$1,805	2,405	$1,805	$3,805	$ 2,380
North America/ Canada	$1,405	$988	$2,810	$1,975	2,810	$1,975	$4,135	$3,263
Far East/ China, Japan	$1,544	$282	$3,088	$1,657	3,088	$1,657	$4,736	$2,829
Far East/ India, Australia	$1,916	$3,835	$3,835	$1,760	3,835	$1,760	$6,086	$3,300

Other costs

The Cost of Living in Nigeria varies from city to city, with Lagos, Abuja and Port Harcourt being the most expensive. Prices in the table below would generally apply to these cities, and are accurate as at November 2017.

What Investors Think

Investors expressed the desire for a more consistent and predictable government policy as regards to infrastructure development. They stressed the need for speedy improvement in the power generation and distribution to reduce operating costs and create competititve market. 

Land Administration

Land Acquisition

A foreign investor cannot acquire land in Nigeria. He/she will need to partner with a Nigerian to establish a company before land can be allocated.

In states, land registration and administration procedures are undertaken by the Land Use and Allocation Committees (for urban land) and land allocation advisory committees (for non-urban land). In the FCT, the Department of Land Administration under the Federal Capital Territory Administration (FCTA) is responsible.

Land application and allocation procedures vary from State to State.

Land Costs

There are no fixed costs for land in Nigeria, and the charges applicable vary from state to state. The costs below apply to properties in Lagos state:

Type of property	Description	Indicative Cost
Land in Eko Atlantic City	Purchase, per square meter	$1,700
Land in Victoria Island	Purchase, per square meter	$1,377
Land in Banana Island, Ikoyi	Purchase, per square meter	$1,326
Duplex in Ikoyi/Victoria Island	Rent, per annum	$47,244
Apartment in Ikoyi/Victoria Island	Rent, per annum	$25,197
4 -5 Bedroom house (Lagos Mainland)	Purchase	$239,900
4 -5 Bedroom house (Lagos Island)	Purchase	$547,150

Construction Permit Procedures

Free Trade Zones

What Investors Think

There is land availability in Nigeria for investors including in the economic zones. However investors are concerned about the administration and procedure. Governments across the tiers are encouraged to further streamline the process to facilitate reliable access.  

Tax Introduction

The Nigerian Tax Legislation

Nigeria has a body of laws that provide for the levying of taxes and tax administration in the country.

The following are the existing tax legislation in Nigeria, as of 2020:

• Associated Gas Re-Injection Act
• Capital Gains Tax Act
• Casino Act
  
• Companies Income Tax Act
• Deep Offshore and Inland Basin Production Sharing Contracts Act
• Federal Inland Revenue Service (Establishment) Act
• Finance Act 2019
• Finance Act 2020
• Income Tax (Authorised Communications) Act
• Industrial Development (Income Tax Relief) Act
• Industrial Inspectorate Act
• National Information Technology Development Act
• Nigerian Export Processing Zones Act
• Nigeria LNG (Fiscal Incentive Guarantees and Assurances) Act
• Oil and Gas Export Free Zones Act
• Personal Income Tax Act
• Petroleum Profits Tax Act
• Stamp Duties Act
• Tertiary Education Trust Fund Act
  
• Taxes and Levies (Approved List for Collection) Act
• Value Added Tax Act
  

Reviews, amendments and modifications to tax legislations are continuous, evolving with global best practices and in keeping with the local socio-economic dynamics. The review and amendment of tax legislation are in keeping with the formal tax amendment process as provided for in the Nigerian constitution.

Companies Income Tax (CIT)

This is a tax chargeable on all resident and non-resident companies (other than those engaged in petroleum operations) incorporated in Nigeria. Also known as corporate tax, the CIT standard rate is 30% of the profit earned in the year preceding assessment.

The Finance Act 2019 has reviewed the rate for different categories of companies as follows:

• Small sized companies (annual turnover < N25m) -  0%
• Medium sized companies (annual turnover N25 and N100m) - 20%
• Large companies (annual turnover > N100m) - 30%

Minimum Tax under CITA arises where:

• A company makes a loss
• A company has no tax payable
• Tax payable is less than minimum tax​

Resident companies are liable to CIT on their worldwide income (profits accruing in, derived from, brought into, or received in Nigeria) while non-residents are subject to CIT on the income derived from their Nigerian operations. A non-resident company with a fixed base in Nigeria is taxable on the profits attributable to that fixed based. Any WHT deducted at source from its Nigeria-source income is available as offset against the CIT liability.

Stamp Duties

Stamp Duties are basically taxes paid to the Federal or State Government on documents ( also known as instruments for the purpose of the Stamp Duties Act) such as Conveyances on Sale, Bills of Exchange, Promissory notes, Agreements, Contracts or even documents such as Letters and Certificates of Admission, Instruments of Apprenticeship, Insurance Policies etc. The payment of Stamp Duties is backed by legislation, the law being the Stamp Duties Act 1939 (as amended by numerous Acts and various resolutions and contained in Vol 22 Cap 411 LFN 1990). It also provides a list of documents in its Schedule and the duty payable on each of them. 

Finance Act 2019 has provided the following amendments to the administration of the Stamp Duty Act:

• N50 Stamp duty charge is now applicable only to transactions amounting to N10,000 and above, a significant increase on the former threshold of N1,000.
• List of items exempted from stamp duty has been expanded. 

Personal Income Tax (PIT)

The Personal Income Tax is charged on the income of individuals, employees, partnerships and incorporated trustees on the basis of residency and payable to the State Government. The Act requires an employer to deduct and remit its employee income tax under the Pay-As-You-Earn (PAYE) scheme. As such, the employer is required to register with the respective State Board of Internal Revenue (SBIR) to which each employee’s taxes are payable.

Personal income tax rate is applied on a graduated scale on taxable annual income. A Consolidated Relief Allowance shall be granted at a flat rate of N200,000 plus 20% of gross income subject to a minimum tax of 1% of gross income whichever is higher.

Finance Act 2019 has provided the following ammendments to the administration of the Personal Income Tax Act

• “electronic mail” is now acceptable form of correspondence for persons disputing assessments by the Tax Authorities.
• Contributions to Pension and Retirement Funds, Societies and Schemes are now unconditionally tax-deductible
  

Petroleum Profit Tax

Petroleum Profit Tax is levied on the income of companies engaged in upstream petroleum operations in lieu of CIT. The rates vary as follows:

• 50% for petroleum operations under Production Sharing Contracts (PSC) with the Nigerian National Petroleum Corporation (NNPC).
• 65.75% for non-PSC operations, including joint ventures (JVs), in the first five years during which the company has not fully amortised all pre-production capitalised expenditure.
• 85% for non-PSC operations after the first five years.

Tertiary Education Tax

All resident companies are required to contribute 2% of their assessable profits to the Tertiary Education Fund. This tax is usually filed alongside the relevant tax return (PPT or CIT).For companies subject to Petroleum Profit Tax,Tertiary Education Tax is treated as an allowable deduction.

Non-resident companies and unincorporated entities are exempt from Tertiary Education Tax.

Value-Added Tax

VAT is a consumption tax charged at 7.5% on the supply of taxable goods and services. All taxable persons are expected to obtain a VAT registration certificate, and display their Tax Identification (TIN) on all invoices. Oil and gas companies and government agencies are required to remit VAT on their purchases directly to the FIRS rather than pay it over to their vendors. A non-resident company carrying on business in Nigeria only needs to register for VAT using the address of its local counter-party and include the tax on its invoice. A Nigerian company is expected to remit the VAT directly to the FIRS rather than pay it over to a non-resident company. 

The Finance Act 2019 has provided the following exemptions:

• ­Basic food items
• ­Locally manufactured sanitary towels, pads or tampons
• ­Services rendered by microfinance banks
• ­Tuition relating to nursery, primary, secondary and tertiary education
• ­Businesses with turnover < N25m
  

Capital Gains Act

This is a 10% tax imposed on capital gains arising from a sale, exchange or other disposal of properties known as chargeable assets. Payable by corporate entities (including pioneer companies) and individuals, this tax is jointly administered by the FIRS and State Internal Revenue Services.

Withholding Tax

This is an advance payment of income tax which is made on account of the ultimate income tax liability of the taxpayers (individuals and companies). Withholding tax accruing from payments to companies is remitted to FIRS while payments from individuals should be remitted to SBIRs.

• Withholding Tax (WHT) is a method used to collect Income Tax in advance
• WHT is deducted at varying rates ranging from 5% to 10% depending on the transaction
• The due date for filing WHT returns is 21st day of every succeeding month
• Penalty for late filing of returns is N25, 000 for the first month it occurs and N5, 000 for each subsequent month the failure continues

National Information Technology Development Levy (NITDL)

1. The Levy is governed by National Information Technology Development Agency Act, CAP N156 LFN 2004 (as amended)
2. The Levy is charged at the rate of 1% of Profit before tax
3. The Levy is charged on specified companies with turnover of N100 million and above

Companies liable to pay the Levy are:

1. GSM Service Providers and all Telecommunication Companies
2. Cyber Companies and Internet Providers
3. Pension Managers and Pension Related Companies
4. Banks and other Financial Institutions and
5. Insurance Companies

Tax Registration Process

The first step to paying taxes for businesses in Nigeria is the registration of such a business. A free Taxpayer Identification Number (TIN) is automatically generated after registering the business, and this enables the business to start paying taxes.

• The TIN is been generated for all registered companies and enterprises. For new business owners, the TIN is generated automatically after incorporating the business.
• Registered businesses that have not obtained or have forgotten their TIN may visit the FIRS TIN Verification System to search for their TIN using their CAC Registration Number or Registered Phone Number. The corresponding business name and the assigned TIN and Tax Office will be displayed.
• Register to file and remit Value Added Tax (VAT) and Withholding Tax (WHT) at the nearest FIRS office. (See the list of FIRS offices in the link below). Note that VAT and WHT returns must be filed not later than the 21st day of the month following the month of transactions. 
• File your Companies Income Tax (CIT) returns not later than six months after the end of the accounting year or 18 months after the commencement of business, whichever comes first.
• Register as a corporate entity with the Corporate Affairs Commission (CAC) See Getting Started.

What Investors Think

Investors are positive about the tax incentives being offered by the government. However, they believe the implementation of the tax policy can be improved to ensure that more people and businesses pay their taxes.

Legal Framework

The Nigerian legal system is composed of the English Common Law, Nigerian customary law, and Islamic Law. Business transactions are governed by the Common Law, as modified by statutes to meet local demands and conditions.

• The Supreme Court is the highest court in the land with original and appellate jurisdiction in certain constitutional, civil and criminal matters prescribed in the Constitution.
• The Court of Appeal hears appeals from the National Industrial Court, Federal and State High Courts, Sharia Courts of Appeal and Customary Courts of Appeal.
• The Federal High Court has jurisdiction in matters connected with the revenue, admiralty, banking, foreign exchange and other currency and monetary or fiscal matters.
• The State High Court has jurisdiction to hear and determine both civil and criminal proceedings.
• The National Industrial Court has jurisdiction in labour and industrial relations matters.
• Sharia and Customary Courts of Appeal exercise jurisdiction in civil proceedings involving Sharia and customary law respectively.
• Magistrates’ Courts, District Courts, Area Courts and Customary Courts all have original jurisdiction in civil and criminal matters.

Nigerian Investment Promotion Commission Act

This Act established the NIPC as an investment promotion agency of the Government. NIPC is responsible for registering foreign investments in Nigeria, as well as liaising between investors and government, institutional lenders and other organisations concerned with investments.

The NIPC Act has removed the ceiling on foreign investment in Nigerian companies and introduced several positive changes such as:

• foreign portfolio investment in Nigerian-quoted companies through the NSE;
• enlargement of the modes of payment for foreign equity to include spare parts, raw materials and other business assets acquired without initial disbursement of foreign exchange from Nigeria;
• remittance of dividends and interest by guaranteeing to foreigners, the unrestricted transferability of dividends or profits (net of taxes) attributable to foreign investment in Nigeria, and capital repatriation in the event of liquidation. All that a foreign investor needs to do is to instruct an authorised dealer in foreign exchange to transfer the related funds in a defined currency on submission of the prescribed documents; and
• procurement and repayment of foreign loans and interest thereon by Nigerian companies without prior ministerial approval.

Investment & Securities Act (ISA)

The Investment and Securities Act 2007 contains comprehensive provisions on matters relating to securities and investments in Nigeria. The Act regulates mergers, acquisitions and other forms of business combination, securities transactions, including electronic transfer of registered shares, capital market operations in all their ramifications, borrowing by States, Local Government, other Government agencies and business entities, etc.

ISA provides for the establishment of:

• Individual Investor Protection Funds (IPF) by securities exchanges and capital trade points, to compensate investors who suffer pecuniary loss from any defalcation committed by a member of a stock exchange and any directors/employees of capital market operators;
  
• A nationwide scheme to compensate investors whose losses are not covered under the IPFs administered by securities exchanges and capital trade points;
  
• An Investment and Securities Tribunal to settle any dispute arising from the operators of capital trade points and exchanges in Nigeria.

Investment Protection

Expropriation

The NIPC Act of 1995 forbids nationalization or expropriation of a business or assets unless the acquisition is in the national interest or for a public purpose. In such cases, investors are entitled to fair compensation and legal redress.

Specifically, Section 25 of the Act provides that:

1.  Subject to subsections (2) and (3) of this section-

• No enterprise shall be nationalized or expropriated by any Government of the Federation;
• No person who owns, whether wholly or in part, the capital of any enterprise shall be compelled by law to surrender his interest in the capital to any other person.

2.  There shall be no acquisition of an enterprise to which this Act applies by the Federal Government, unless the acquisition is in the national interest or for a public purpose and under a law which makes provision for-

• Payment of fair and adequate compensation; and
• A right of access to the courts for the determination of the investor's interest or right and the amount of compensation to which he is entitled.

3.  Any compensation payable under this section shall be paid without undue delay, and authorisation for its repatriation in convertible currency

shall where applicable, be issued.

Dispute settlement

Section 26 of the NIPC Act seeks to ensure the amicable settlement of disputes between investors and the government. However, where such is not successful, arbitration serves as the main alternative resolution mechanism.

The Arbitration and Conciliation Act of 1990 provides a unified legal framework for the fair and efficient settlement of commercial disputes by arbitration and conciliation. It also makes applicable the Convention on the Recognition and Enforcement of Arbitral Awards (New York Convention) to any award made in Nigeria arising out of international commercial arbitration. The Act allows parties to challenge arbitrators, provides that an arbitration tribunal shall ensure that the parties receive equal treatment, and ensures that each party has full opportunity to present its case.

Litigation is also a method of dispute resolution. Nigeria's civil courts handle disputes between foreign investors and the government as well as between foreign investors and Nigerian businesses. Nigerian law allows the enforcement of foreign judgments after proper hearings in Nigerian courts. However, where there is disagreement between the investor and the Federal Government as to the method of dispute settlement to be adopted, the International Centre for Settlement of Investment Dispute (ICSID) Rules shall apply.

Nigeria is a member of the United Nations Commission on International Trade Law and a signatory to ICSID and the 1958 Convention on Recognition and Enforcement of Foreign Arbitral Awards (New York Convention). 

International Investment Agreements

Nigeria has bilateral investment agreements with 31 countries; 15 of which are in force. The country also has Double Tax Treaties with 13 countries, and is a signatory to 21 Investment-related instruments.

Relevant Links  Nigeria’s International Investment Treaties

Repatriation of Funds

The NIPC Act guarantees foreign investors the unrestricted transferability of proceeds from their investment in Nigeria and capital repatriation in the event of liquidation. Investments in form of share capital contribution or loans may be made in foreign currency but information on such transactions must be submitted to the CBN by the dealer (i.e. a Nigerian bank) within 24 hours in order to obtain a Certificate of Capital Importation (CCI).

Once the foreign investor has the CCI, the following can be repatriated without hindrance:

• Dividends, Rent, Royalties, Profits (net of taxes) attributable to the investment. Dividend payments are subject to withholding tax at 10% as final tax (7.5% for qualifying recipients in a treaty country).
• Payment of interest and capital on foreign loans. A tax clearance certificate is required to remit dividend and interest out of the country.
• The remittance of proceeds (net of taxes) and other obligations in the event of a sale or liquidation of the enterprise or any interest attributable to the investment.

There is currently no ceiling on profits distributable as dividends, provided such distributions are from profits and not capital, and there are no reasonable grounds for believing that the company is or would be insolvent after the payment.

Intellectual Property

The Nigerian Legal system strives to protect intellectual property through the Trade Marks Act, the Patents and Designs Act, and the Copyright Act.

Trademarks distinguish the goods or services of one enterprise from those of another. They are registrable at the Trade Marks Registry, Abuja. Registration of a trademark confers on the person registering it, a right to the exclusive use of that trademark for a period of seven (7) years, which may be renewed. The common remedies for trademark infringement include an injunction, award of damages, delivery up or destruction of the infringing goods.

Patents and designs relate to inventions. An invention can be patented if it is new, is capable of industrial application, or constitutes an improvement upon a patented invention. This must also be registered to be protected. A patent expires after twenty (20) years from the date of registration, while a design is effective in the first instance for five (5) years but renewable for two (2) consecutive periods of five (5) years each.

Copyright automatically applies to original creative works (such as literary, musical and artistic works, cinematograph films, sound recordings, and broadcasts) as soon as they are created. Copyright is valid for fifty (50) years in the case of broadcasts, sound recordings and cinematography, and seventy (70) years for literary, musical and artistic works. The Nigerian system enables people with skill and enterprise to produce and market goods and services in the fairest possible conditions, thereby facilitating trade.

The Nigerian Copyright Commission is responsible for the administration of all copyright matters. The remedies for the breach or an infringement of copyright are damages, injunction, accounting for profits, delivery or destruction as well as the conversion of rights.

Relevant Institutions:  Nigerian Copyright Commission

Trade Mark: http://www.nigeria-law.org/Trade%20Marks%20Act.htm

International IP Agreements

Competition law

Enabling Business Evironment

The Federal Government established the Presidential Enabling Business Environment Council (PEBEC) in July 2016 to work progressively towards removing bureaucratic constraints to doing business in Nigeria and make the country a easier place to start and grow a business.

The Council is an inter-governmental and inter-ministerial chaired by His Excellency, Vice President Yemi Osinbajo, SAN, and comprises ten ministers, the Head of the Civil Service of the Federation, the Governor of the Central Bank of Nigeria, representatives of the National Assembly, the Judiciary, and organized private sector.

The Council, in collaboration with the National Assembly, the Judiciary, the Ministries, Departments and Agencies (MDAs), and the private sector have implemented over 100 reform initiatives through accelerated national action plans focused on ten (10) indicators, these reforms are aimed at reducing the challenges faced by SMEs while doing business.

These reforms implemented across various sectors of the economy and Ministries, Departments, and Agencies (MDAs) of government have seen Nigeria sustained its reform agenda resulting in 15 places upward movement in the World Bank’s Ease of Doing Business Index 2020, from the 146th position on the 2019 ranking to 131st in the World Bank’s 2020 report.

In July 2017, the Council kicked off the sub-national Ease of Doing Business project with all States and the Federal Capital Territory (FCT), with the primary aim of cascading the ease of doing business initiatives down to the sub-national level by engaging and collaborating with state governments to implement reform initiatives that would increasingly make their states more attractive to business.

The Enabling Business Environment Secretariat (EBES) assists the MDAs to implement the reform agenda of the Council. 

Please visit www.pebec.gov.ng for more information.

What Investors Think

Investors are happy about the government’s commitment to reducing the cost of doing business as they believe this is already creating a more enabling environment for existing businesses to thrive, and new ones to emerge, thereby improving competition in the economy.

Some expressed concerns about the regulatory environment. They believe there are too many regulators, resulting in overlaps of their functions. There is need for government to harmonise agendas of these agencies in order to strengthen their oversight functions.

Economy and Domestic Production

The Nigerian economy is the biggest economy in Sub-Saharan with a Gross Domestic Product (GDP) of US$405 billion in 2016; a year the economy contracted by 1.51%. The economy has since moved out of recession; and has expanded in the last three consecutive quarters of 2017; the third quarter growth rate of 1.4% was above the World Bank’s 1.2% projected growth rate for 2017. The economy ended the year with a growth rate of 0.86%.

Fiscal incentives in form of duty waivers, tax exemptions, tax holidays, rebate, accelerated capital allowances and many more are provided for companies that undertake manufacturing, agriculture, technology, innovation and export-related activities. The Naira (N) is used for day to day transactions with exchange transactions regulated by the Foreign Exchange Act 1995. Cross border transactions are allowed but with some level of restriction to protect the local currency, prevent funding of terrorism and curb money laundering.

Market Access

Nigeria is a member of the World Trade Organisation, and has recently ratified the Trade Facilitation Agreement (TFA) – a move welcomed by trade experts given Nigeria’s position as Africa’s largest economy. The TFA sets forth a series of measures for expeditiously moving goods across borders inspired by the best practices from around the world.

Regional and International Markets

Nigeria is a member of the following organisations and associations:

African Union: Nigeria is a founding member of the African Union (AU), formerly Organisation of African Unity (OAU), which was established in May 1963. The creation of the AU brings the dream of a common African currency, foreign policy, defence structure and economic programme closer to reality.

African Union Website

New Partnership for Africa’s Department (NEPAD): Nigeria is an active member of NEPAD (established by the AU) whose main objective is to give impetus to Africa’s development, by bridging existing gaps between Africa and the developed world.

NEPAD Website

ECOWAS: Nigeria is a founding member of the Economic Community of West African States, an economic union of 15 West African States established in May 1975 to facilitate trade in the region and to promote regional joint development efforts. In January 1990, ECOWAS commenced a Trade Liberalisation Scheme (TLS) aimed at the total elimination of customs duties and taxes of equivalent effect, removal of non-tariff barriers and the establishment of a Common External Tariff (CET) to protect goods produced in Member States.

ECOWAS Factsheet on Common External Tarrif

Commonwealth of Nations: Nigeria is a member of The Commonwealth, an intergovernmental association of 52 sovereign states that once made up the British Empire.

Commonwealth of Nations Website

Organisation of Petroleum Exporting Countries: OPEC is a permanent, inter-governmental organisation of fourteen oil-producing nations including Nigeria, which joined in 1971. OPEC seeks to co-ordinate and unify the petroleum policies of Member Countries, ensure the stabilisation of oil prices in order to secure efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to investors in the petroleum industry. A very active member of OPEC, Nigeria is the 13th largest producer of petroleum in the world, the 5th largest exporter and has the 10th largest proven reserves.

OPEC Website

Nigeria is also a member of the United Nations (UN) and plays an active role in its peace-keeping activities globally.

Agriculture

Mining

Business Process Outsourcing (BPO)

The National Information and Communication Technology Policy was developed by the Ministry of Communication Technology, in 2012 to help facilitate the transformation of Nigeria into a knowledge-based economy. The need to growth the BPO segment in Nigeria features within this policy document: “It is important… especially as Government continues to stimulate the creation of jobs – to urgently promote a conducive environment that will enable … firms to invest in and participate in the global BPO economy.”

Power

The Renewable Energy Programme

The Renewable Energy Programme is initiated by the Federal Ministry of Environment in fulfillment of the Federal Republic of Nigeria’s obligation to the United Nations Framework on Climate Change (UNFCC) and as part of African strategy on voluntary emission reduction. The programme is developed as mitigation tool by Nigeria in response to the UNFCCC Accord, which includes:

• The commitments emission reduction targets and mitigation action by developing countries by 2020.
• Short term fun ding for immediate action and long term financing.
• Mechanisms to support technology transfer.

For more information on Renewable Programme 

Manufacturing

Oil & Gas

With a crude oil production capacity of 2.5 million barrels per day, Nigeria ranks as Africa's largest producer of oil and the sixth largest oil producing country in the world.

The country equally has the largest natural gas reserves in Africa, and ranks seventh in the world. It is eager to capitalize on this important resource after many years of flaring from oil fields. The country has attained an annual average production of about 2,000 Billion Standard Cubic Feet (BSCF) of Natural Gas; of which about 70% is utilized while 30% is still being flared annually.

Nigeria continues to attract major international oil companies (IOC), most of which are presently represented in Nigeria: Total, Chevron, ExxonMobil, Elf, Shell, ConocoPhillips and Eni. 

Transportation

The Nigeria's transportation network is one of the best in Africa; featuring an extensive system of paved highways, railroads, airports, waterways and seaports. The sector contributes about 3% to the gross domestic product (GDP) annually. 

Towards facilitating private sector participation in infrastructure development and management in the economy, government established the Infrastructure Concession and Regulatory Commission (ICRC) to manage the selection, development, procurement, implementation and monitoring of Private Public Partnership (PPP) projects.

Road

Nigeria’s road network is unarguable the largest in West Africa and the second largest south of the Sahara; the national road network is currently estimated to be 194,200km of which 34,120km (17.6%) are federal roads, 30,500km (15.7%) state roads and 129,580km (66.7%) local and rural roads. However a huge proportion of this network is buckling under the strain of carrying up to 80% of passenger and freight traffic. 

Investment opportunities include:

• construction and maintenance of paved roads through concessionary or any of the PPP models;
  
• building of tolls infrastructure and collection of tolls for the use of the service facilities provided to help sustain the system;
  
• provision of mass urban and rural transportation services – freight and passenger services;
  
• service facilities at the terminals on both the highways and destinations;
  
• central terminals in various urban and rural locations in the country with service facilities. 
  

Rail

The Nigerian railway network covers an approximate distance of 3,500km of narrow gauge lines connecting the south-western part of the country (Lagos) with the Northwest (Kano) and Northeast (Maiduguri). The network has been extended by a narrow gauge line between Onne and the Enugu-Port Harcourt line and a standard gauge line from Ajaokuta to Warri.

The Nigerian Railway Corporation (NRC) owns and operates country’s rail and rolling stock. There is on-going reform to allow private sector participation in virtually all activities in the industry.

Investment Opportunities in the activity include

• construction and maintenance of standard gauge rail lines through concession or any of the PPP models;
  
• provision of train transportation services - freight and passenger services.
  

Waterways

Nigeria’s sea ports handle 68% of West Africa’s maritime trade. The main seaports in Nigeria are at Calabar, Port Harcourt, Lagos, Sapele, Onne, and Warri. The Nigerian Port Authority (NPA) regulates activities in the Ports. A number of activities have been slated for privatisation or while some are already under concession.

The country has an inland navigable waterway of about 3000km which transverse 20 of the 36 states presenting huge investment potential. The coastline is about 852 km. The Nigerian Inland Waterways Authority (NIWA) serves as the regulator of the activity. The Nigerian Coastal and Inland Shipping (Cabotage) Act of 2003 facilitate private participation in coastal and inland waterway transport services, and the construction and management of infrastructure to support the industry. 

Investment Opportunities:

• port services management and operation;
  
• liner services – foreign shipping companies can engage in the provision of Liner Services through joint sailing agreement with Nigerian shipping companies;
  
• tramp services;
  
• coastal and inland water transportation under cabotage law- government encourages joint venture in the ownership and operation of light vessels between ports, which must be fully registered in Nigeria;
  
• terminal and jetty development;
  
• ship acquisition and ship building fund/lifting of crude oil and gas;
  
• towage and pilot services
  

Aviation

Airports and air navigational facilities constitute major infrastructure of the country’s transport sector; the country has a total of 19 airports and 62 airstrips distributed all over the country. Lagos, Abuja, Kano and Port Harcourt Airports are the four international airports and combined, they account for up to 90% of all passenger movements and aircraft movements.

The operation and management of most of the airport facilities are presently done through the Federal Airports Authority of Nigeria (FAAN). The National Airspace Management Agency (NAMA) is responsible for regulation, licensing, traffic control and navigational aids for aircrafts.

The active participation of the private sector in the industry as licensed operators, concessionaire or in PPP arrangement for the delivery and management of infrastructure and services continues to have huge impact in the transformation of the industry. A new National Aviation Policy has been approved to address safety issues in the industry.

Nigeria has developed an integrated master plan to transform the country’s aviation industry into air service hub of the West African region and creating agricultural products cargo terminals

Investment Opportunities: With the growing traffic numbers, significant investment is needed in:

• the aviation infrastructure – maintenance hangers, communications and safety infrastructures,  airports and landing strips
  
• air catering services
  
• airline operations
  
• establishment of modern aircraft training facilities
  

National Integrated Infrastructure Masterplan

NIIMP identifies investment required to bring infrastructure in Nigeria to desirable state. NIIMP’s key objective is to ensure coordinated approach to infrastructure development in Nigeria and help to integrate diverse infrastructure plans and projects across all sectors and regions in Nigeria.

In order to bridge the current infrastructure gap and reach desired optimal investment, NIIMP states that Nigeria must increase core infrastructure stock from 35-40% of GDP in 2012 to 70% by 2043. The NIIMP document indicates that about $127 billion is required over the next 5 years translating to an average of $25 billion per annum from 2014-2018 (“the 1st Operational Plan Period”).

Budgetary resources alone, currently standing at $9 -10 billion for capital expenditure per year, will be inadequate to meet Nigeria’s infrastructure requirements. At the Federal and States level, financing of infrastructure will also require private sector participation. During the 1st Operational Plan Period, Private sector investment requirement is projected to increase from 46% to 48% and Public Sector investment projected at 52% out of which only about 15% of public sector funding is projected to be from the government treasury leaving the balance of 85% to be sourced through the debt capital markets as well as the traditional lending market. 

National Integrated Infrastructure Masterplan 

What Investors Think

Investors are eager to see the government’s Economic Recovery and Growth Plan in action. They recognise the position of Nigeria as Africa’s largest market, and say that despite the challenges in the environment, Nigeria is still worth investing in, particularly because of its population, geographical location, and proximity to international markets.  However, they stressed the need for significant infrastructural improvement, which they consider as critical to the success of sectors prioritized for investment. 

Nigeria: An Investment Destination of Choice

The economy is endowed with great economic potentials and is expected to be one of the world’s top economies by 2050. A member of the MINT countries, and one of the next four largest emerging and developing economies after the BRIC countries. All these are clear attestation to the potentials inherent in the economy.

The economy possesses one of the largest internal markets in the world. With a growing population of over 193 million, the economy presents huge opportunity for market seeking investments. According to Global Retail Development Index, Nigeria’s retail sector made a national sale of over US$125 billion in 2016. This was made possible by a middle-class population that has grown by over 600% in the last few years, and now represents over 38% of the population of the country.

The Economic Recovery and Growth Plan (ERGP); the national medium term economic plan for 2017 – 2020 has a vision for sustained inclusive growth that is anchored on:

i.  a stable macroeconomic environment

ii.  agriculture and food security

iii.  energy sufficiency (power and petroleum products)

iv.  improved transportation infrastructure

v.  industrialization focusing on small and medium scale enterprises

Overall, the Plan projects to grow the economy at an annual average of 4.62%. This is to be achieved by focusing on growth sectors - sectors that have consistently contributed significantly to the GDP and attracted investors interests, both domestic and foreign.

The commitment to improve the enabling environment has seen an improved ranking of the economy by the World Bank in the 2018 Doing Business Report. The economy achieved a 24 places upward movement to being ranked 145 out of 190 countries in the process recording positive change in seven out of the ten indicators. Efforts are on to ensure this trend is sustained to ensure the country makes top 100 ease of doing business ranking by 2020.

Please be assured that Nigeria is not just open for business, Nigeria is ready for business!

Why Invest in Nigeria?

Nigeria has been rated one of the top 10 improved economies by the World Bank in the Doing Business Index 2020, the 2nd time within 3 years. Through its Presidential Enabling Business Environment Committee (PEBEC), the country is actively improving its business environment to attract investors. So far, Nigeria has streamlined the business incorporation, tax payment and Visa-on-Arrival processes, improved access to credit, fast-tracked export procedures, eliminated manual baggage searches at its airports and improved its tax administration framework. The most populous nation in Africa is open for business, offering the following to investors:

Country data

		Date
Official name	Federal Republic of Nigeria
Country area	923,768 square kilometres
Capital city	Abuja
Population	206 million	2020 estimate
Administrative structure	36 States and 1 Federal Capital Territory
Local currency	Naira
Official language(s)	English
Other national language(s)	Hausa, Igbo, Yoruba
GDP (Current USD)	468.60 billion	2020
GDP growth rate (%)	(1.92)	2020
GDP per capita (USD)	2,273.20	2020
Exchange rate (NGN/USD)	410.42	07 Sept. 2021
Inflation rate (%)	17.38	July 2021
Labour size (% of population)	69.7 million (34%)	Q4 2020

Country map

Abia State Profile

“Abia” is an acronym formed from the initial letters of four groups of people, namely: Aba, Bende, Isuikwuato and Afikpo. These constituted the major groups in the state at its creation. At the country’s independence in 1960, Abia was part of the then Eastern Region. From 27th May 1967, it became a part of the East Central State, created by the then Head of State of the Federal Military Government, General Yakubu Gowon. On 3rd February 1967, the Federal Military Government headed by General Murtala Mohammed split East Central State into two states -Anambra and Imo.

On 27th August 1991, the Federal Military Government under General Ibrahim Babangida carved out Abia State from Imo State.

Basic Information

Capital	Omuahia
Local Government Areas	Aba North, Aba South, Isiala Ngwa North, Isiala Ngwa South, UkwaWest, Ukwa East, Obingwa, Ikwuano, Bende, Arochukwu, Ohafia, Isuikwuato, Umuahia North, Umuahia South, Ugwunagbo, Osisioma and Nnochi.
Land Area	4,900 sqkm
Population	3,727,347	2017 est.
Labour Force	1,635,467	Q4 2020
Climate	Tropical Savannah and Monsoon
Topograph	Stony, Humus and Loamy soil

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Auto components
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Obioma Ogbonna 

Honorable Commissioner 

Ministry of Tourism, Arts & Culture 

Umuahia

Abia State 

Email: abiatourism@abiastate.gov.ng

Website: abiastate.gov.ng

Adamawa State Profile

Adamawa State is located in the North East  Geopolitical zone of Nigeria. The State was created in August 1991 from the defunct Gongola State.

River Benue is the biggest river in the state and has a number of tributaries draining into it. The state is a mountainous land dissected by the valleys of River Benue, Gongola and Yedzaram.

Basic Information

Capital	Yola
Local Government Areas	Demsa, Fufore, Ganaye, Gireri, Gombi, Guyuk, Hong, Jada, Lamurde, Madagali, Maiha, Mayo-Belwa, Michika, Mubi North, Mubi South, Numan, Shelleng, Song, Toungo, Yola North, Yola South.
Land Area	38,700 sq km
Population	4,248,436	2017 est.
Labour Force	1,639,013	Q4 2020
Climate	Tropical Savannah
Topography	Mountainous; River valleys

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Abba Fufore

Managing Director

Adamawa Investment Company

Email: abbas_fufore@yahoo.co.uk 

Telephone: 08039358136

Akwa Ibom State Profile

Akwa Ibom State was created on September 23, 1987 from the former Cross River State, South South Geo-political Region of Nigeria.

The Atlantic coastline stretches 129km from Oron in the East to Ikot Abasi in the West. The State comprises several related sub-ethnic groups. They include Ibibio, Annang, Oron, Eket, Ibeno, Mbo, Okobo and the Andonis. They share a common ancestry and are reputed to be the first settlers in present day South Eastern Nigeria.

Basic Information

Capital	Uyo
Local Government Areas	Abak, Eastern Obolo, Eket, Esit Eket, Essien Udim, Etim Ekpo, Etinan, Ibeno, Ibesikpo Asutan, Ibiono Ibom, Ika, Ikono, Ikot Abasi, Ikot Ekpene, Ini, Itu, Mbo, Mkpat Enin, Nsit Atai, Nsit Ibom, Nsit Ubium, Obot Akara, Okobo, Onna, Oron, Oruk Anam, Udung Uko, Ukanafun, Uruan, Urue-Offong/Oruko, Uyo
Land Area	6,900 sqkm
Population	5,482,177	2017 est.
Labour Force	2,475,522	Q4 2020
Climate	Tropical Monsoon
Topography	Saline water swamp forest, Fresh water swamp forest and the rain forest

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Dr Elijah Akpan 

The Executive Chairman

APICO Investment House (3rd Floor),

Plot 143 Olusegun Obasanjo Avenue

Uyo, Akwa Ibom State

Email: elijah-a@hotmail.com

Telephone: 0802 584 9973

Website: www.akicorpng.com

Anambra State Profile

The state is located in the South East Geo-Political Zone of Nigeria. It was created on 27 August 1991 out of the old Anambra State. The state capital is Awka and its major commercial cities are Onitsha and Nnewi.

Some important tourist attractions are; the Ogbunike Cave, Agulu Lake/Gully, Odinani Museum and Igbo Ukwu Archaeological Escavations.

Basic Information

Capita	Awka
Local Government Areas	Aguata, Awka North, Awka South, Anambra East, Anambra West, Anaocha, Ayamelum, Dunukofia, Ekwusigo, Idemili North, Idemili South, Ihiala, Njikoka, Nnewi North, Nnewi South, Ogbaru, Onitsha North, Onitsha South, Orumba North, Orumba South, Oyi.
Land Area	4,865 km2
Population	5,527,809	2017 est.
Labour Force	2,150,796	Q4 2020
Climate	Tropical Savannah

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Auto components
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Dr. Ifediora Amobi

Executive Director

Anambra State Investment Promotion Agency

ANSIPPA Millenium Plaza

B Block, Enugu-Onitsha Express Road

Awka, Anambra State

Email: ifediora.amobi@anambrastate.gov.ng 

Telephone: 08037221674

Bauchi State Profile

Bauchi, usually referred to as Bauchi State to distinguish it from the city of Bauchi, is a state in Northern Nigeria.

Its capital is the city of Bauchi. The state was formed in 1976 when the former North-Eastern State was broken up. In 1996, the present day Gombe state was carved out of Bauchi State.

Basic Information

Capital	Bauchi
Local Government Areas	Bauchi, Tafawa Balewa, Bogoro, Dass, Toro, Ningi, Warji, Ganjuwa, Kirfi, Alkaleri, Darazo, Misau, Giade, Shira, Jama’are, Katagum, Itas/Gadau, Zaki, Gamawa and Dambam.
Land Area	49,119 km2
Population	6,537,314	2017 est.
Labour Force	1,792,629	Q4 2020
Climate	Tropical Savannah, Hot semi-arid
Topography	Mountainous, Sandy

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Director General

Bauchi Investment Promotion Agency

Investment House

No.37 Abdulkadir Ahmed Road,

Bauchi, Bauchi State

Email: aminumusa9@gmail.com

Telephone: +234 8037420081

Bayelsa State Profile

Bayelsa State was created on October 1, 1996 out of the old Rivers State. The name, Bayelsa, is an acronym of three former Local Government areas – Brass, Yenagoa and Sagbama – in the then Rivers State, which had earlier on comprised the entire area now constituting Bayelsa State. It has interstate boundaries with Rivers State to the west and northwest and Delta State to the east and southeast. The Gulf of Guinea lies to its south.

Basic Information

Capital	Yenagoa
Local Government Areas
Land Area	9,059sqkm
Population	2,268,582	2017 est.
Labour Force	955,031	Q4 2020
Climate	Tropical Savannah and Monsoon
Topography	Riverine, Estuarine

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining
• Transportation

Key Contacts

Director General

Bayelsa State Investment Promotion Agency

1st Floor, State Secretariat Annex,

No. 6. Onopa, Yenagoa,

Bayelsa State

Email: patience.abah@bayelsa.gov.ng, poeabah@gmail.com, duate.iyabi@gmail.com

Telephone: +234 8065889047

Website: www.investbayelsa.ng

Benue State Profile

Benue state was created on February 3, 1976. It was one of the seven new states created by the military administration headed by late General Murtala Muhammed, which increased the number of states in the federation from twelve to nineteen. The state derives its name from the River Benue, which is the second largest river in the country.

Basic Information

Capital	Makurdi
Local Government Areas	Ado, Agatu, Apa, Buruku, Gboko, Guma, Gwer, Gwer-West, Katsina-Ala, Konshisha, Kwande, Logo, Makurdi, Obi, Ogbadibo, Ohimini, Oju, Okpokwu, Otukpo, Tarka, Ukum, Ushongo, Vandeikya.
Land Area	30,800sqkm
Population	5,716,538	2017 est.
Labour Force	2,832,948	Q4 2020
Climate	Tropical Savannah
Topography	Marine Sediments

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Princ. Manager Invest.

Benue Investment & Property Dev. Company

Km5, Gboko Road,

Makurdi

Telephone: +234 8036161165

Email: simonkpelai@gmail.com

Borno State Profile

Borno State, known as the Home of Peace, is located in the northeastern corner of Nigeria. It is the largest state in the Federation in terms of landmass. The State occupies the greatest part of the Chad Basin and shares borders with the Republics of Niger to the North, Chad to the Northeast and Cameroon to the East. Within the country, its neighbors are Adamawa to the South, Yobe to the West and Gombe to the Southwest.

Basic Information

Capital	Maiduguri
Local Government Areas	Abadam Askira-Uba Bama Bayo, Biu, Chibok Damboa Dikwa, Gubio Guzamala Gwoza Hawul, Jere, Kaga Kala/Balge Kondunga Kukawa Kwaya Kusar Mafa Magumeri Maiduguri Marte Mobbar Monguno Ngala Nganzai Shani
Land Area	72,609sqkm
Population	5,827,153	2017 est.
Labour Force	1,061,155	Q4 2020
Climate	Tropical Savannah, Hot semi-arid and Hot Desert
Topography	Desert

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Manufacturing
• Real Estate
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Managing Director

Borno Investment Company Limited

No 10, Nguru Road, Maiduguri

Email: mmzarma@gmail.com

Telephone: +234 8064041440; +234 8066713498

Cross River State Profile

Cross River State was created on May 27, 1967 from the former Eastern Region, Nigeria by the General Yakubu Gowon regime. Its name was changed to Cross River State in the 1976 state creation exercise by the then General Murtala Mohammed regime from South Eastern State. The present day Akwa Ibom State was excised from it in the state creation exercise of September 1987 by the then regime of General Ibrahim Babangida.

Basic Information

Capital	Calabar
Local Government Areas	Abi, Akamkpa, Akpabuyo, Bakassi, Bekwarra, Biase, Boki, Calabar Municipal, Calabar South, Etung, Ikom, Obanliku, Obubra, Obudu, Odukpani, Ogoja, Yakuur, Yala.
Land Area	21,787sqkm
Population	3,850,352	2017 est.
Labour Force	1,860,552	Q4 2020
Climate	Tropical Savannah and Monsoon
Topography	Low-lying undulating terrain

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Real Estate
• Tourism
• Energy
• Mining

Key Contacts

Director General/CEO

Cross River State Investment Promotion Bureau

3rd Floor, Prof. Eyo Ita House, Marian Road, Calabar

Email: johnetimbassey@gmail.com, mefoniulofu@gmail.com

Telephone: +234 8181430000

Delta State Profile

Delta State is in the South-South geo-political zone of Nigeria and its state capital is the bustling city of Asaba. It is also home to Warri, which is the most populous of its cities and is its economic nerve centre. Delta State is an oil-producing state, and is one of the nine Niger-Delta states in Nigeria. The River Ethiope which is reputed to be the deepest inland waterway in Africa is sourced in and flows through Delta State. Delta State also has a thriving fishing industry.

Basic Information

Capital	Asaba
Local Government Areas	Ethiope East, Ethiope West, Okpe, Sapele, Udu, Ughelli North, Ughelli South, Uvwie, Aniocha North, Aniocha South, Ika North East, Ikaa South, Ndokwa East, Ndokwa West, Oshimili North, Oshimili South, Ukwuani, Bomadi, Burutu, Isoko North, Isoko South, Patani, Warri North, Warri South and Warri South-West.
Land Area	17,108sqkm
Population	5,635,041	2017 est.
Labour Force	2,669,869	Q4 2020
Climate	Tropical Savannah and Monsoon

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Director General/CEO

Delta State Investment Development Agency

Governor's Office, 14 BRO Izegbu Street, GRA, Asaba Delta

Email: loomoru@gmail.com

Telephone: +234 8033042792

Ebonyi State Profile

Ebonyi State is a state in Nigeria, in the south of the Eastern region. It is inhabited and populated primarily by Igbo. Its capital and largest city is Abakaliki. It is one of the six states created in 1996 by the Abacha government. Ebonyi was created from parts of both Enugu State and Abia State.

Basic Information

Capital	Abakaliki
Local Government Areas	Abakaliki, Izzi, Ezza North, Afikpo South, Ohaukwu, Ebonyi, Onicha, Ishielu, Ezza South, Ikwo, Afikpo North, Ohaozara, Ivo.
Land Area	6,400sqkm
Population	2,869,320	2017 est.
Labour Force	1,069,939	Q4 2020
Climate	Tropical Savannah
Topography	Grassland

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Energy
• Mining

Key Contacts

Ag. General Manger

Ebonyi State Government

Ebonyi State Investment & Property Co.Ltd

1 Onwe Road, Abakaliki, Ebonyi state

Email: ebinpro14@gmail.com; ebonyissg@gmail.com

Telephone: +234 8033412715

Edo State Profile

Edo State is referred to as the “heartbeat of Nigeria” and is located in the South-South geo-political zone of Nigeria. Edo State is an oil-producing state, and is one of the nine Niger-Delta states in Nigeria. It has a rich rainforest vegetation interspersed with hills as well as a rich cultural heritage that makes it a tourist destination. Edo State is also endowed with a wide variety of mineral resources and arable land for cash crops.

Basic Information

Capital	Benin
Local Government Areas	Akoko-Edo, Egor, Esan Central, Esan North-East, Esan South-East, Esan West, Etsako Central, Etsako East, Etsako West, Igueben, Ikpoba-Okha, Oredo, Orhionmwon, Ovia North-East, Ovia South-West, Owan East, Owan West and Uhunmwonde.
Land Area	19,187sqkm
Population	4,220,455	2017 est.
Labour Force	1,446,453	Q4 2020
Climate	Tropical Savannah and Monsoon
Topography	Swampy, Forestry

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

SSA Investment Promotion

Government House, Edo

Dennis Osadebey Avenue,

Benin City, Edo

Email: kelvin.uwaibi@googlemail.com, taiwo_akerele@yahoo.com, taiwoakerele@edostate.gov.ng

Telephone: +234 8055354490

Website: www.edostate.gov.ng

Ekiti State Profile

Ekiti is a state in the south-western region of Nigeria. Its name came about as a result of the large number of hills it possesses, around which much of its population resides. It is also notable for its achievement of producing the highest number of professors in Nigeria. It has a number of major rivers and is naturally endowed with mineral deposits and agricultural resources. The state is also home to some tourist sites, such as the Ikogosi Warm Springs and the Ipole-Iloro Water Falls.

Basic Information

Capital	Ado-Ekiti
Local Government Areas
Land Area	5,435sqkm
Population	3,255,436	2017 est.
Labour Force	1,450,037	Q4 2020
Climate	Tropical Savannah
Topography	Rocky, Mountainous

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Energy
• Mining
• Tourism

Enugu State Profile

Enugu state, South-East of Nigeria, is one of the thirty-six States constituting the Nigerian Federation. It came into being on August 27, 1991 when the administration of President Ibrahim Babangida finally acquiesced to the long agitations of Waawa people for a State they could truly call their own. Enugu State derives its name from the capital city, Enugu (top of the hill), which is regarded as the oldest urban area in the Igbo speaking area of Southeast Nigeria. The city owes its geopolitical significance to the discovery of coal in 1909 by a team of British geologists. The state shares borders with Abia State and Imo State to the south, Ebonyi State to the east, Benue State to the Northeast, Kogi State to the northwest and Anambra State to the west.

Basic Information

Capital	Enugu
Local Government Areas	Aninri, Awgu, Enugu East, Enugu North, Enugu South, Ezeagu, Igbo-Etiti, Igboeze North, Igboeze South, Isi-Uzo, Nkanu East, Nkanu West, Nsukka, Oji River, Udenu, Udi, Uzo-Uwani.
Land Area	7,534sqkm
Population	4,391,700	2017 est.
Labour Force	1,712,751	Q4 2020
Climate	Tropical Savannah
Topography	Swampy, Hilly

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Honourable Commissioner

Ministry of Commerce and Industry

State Secretariat, Enugu

Email: suogbu.commerce@enugustate.gov.ng; suogbu@gmail.com, okaforchibuzorssa@yahoo.com

Telephone: +234 7033770130

Website: www.enugustate.gov.ng

Gombe State Profile

Gombe State came into existence on October 1, 1996 during the regime of the late General Sanni Abacha, carved out of the old Bauchi State. Gombe state shares boundaries with Yobe state to the north, Borno and Adamawa states to the east and Bauchi state to the west and Taraba State to the south. The Climate of the state is warm not exceeding 30°C during hottest months (March – May) with an annual average rainfall of 850mm.

Basic Information

Capital	Gombe
Local Government Areas	Akko, Balanga, Billiri, Dukku, Kaltungo, Kwami, Shomgom, Funakaye, Gombe, Nafada/Bajoga, Yamaltu/Deba
Land Area	17,100sqkm
Population	3,240,675	2017 est.
Labour Force	826,246	Q4 2020
Climate	Tropical Savannah, Hot semi-arid
Topography	Sandstone, Clay, Silt

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Managing Director

Gombe State Investment& Property Development Company Ltd.

Old CBN Office,

opposite Deputy Governors Office,

PMB 111 Gombe,

Gombe State

jaloahmedganga@gmail.com  md@gombeinvestment.com.ng 

Email: jaloahmedganga@gmail.com, md@gombeinvestment.com.ng,

Telephone: +234 8064265555

Imo State Profile

Imo State was created on February 3, 1976 out of the old East Central State by the then regime of General Murtala Mohammed. The State is named after the Imo River. Part of it was split off in 1991 as Abia State, and another part became Ebonyi State.

Basic Information

Capital	Owerri
Local Government Areas	Aboh Mbaise, Ahiazu Mbaise, Ehime Mbano, Ezinihite-Mbaise, Ideato North, Ideato South, Ihitte/Uboma, Ikeduru, Isiala Mbano, Isu, Mbaitoli, Mgbidi, Ngor-Okpala, Njaba, Nkwerre, Nwangele, Obowo, Oguta, Ohaji/Egbema, Okigwe, Onuimo, Orlu, Orsu, Oru East, Oru West, Owerri Municipal, Owerri North, Owerri West.
Land Area	5,288sqkm
Population	5,381,708	2017 est.
Labour Force	1,946,682	Q4 2020
Climate	Tropical Savannah, Tropical Monsoon
Topography	Coastal plain sands

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Business Process Outsourcing
• Tourism
• Energy
• Mining

Key Contacts

The Director General

Imo State Investment Promotion Agency

First floor, Imo Trade and Investment Centers,

Pocket Layout Owerri,

Municipal Imo

Email: justus.onyekwere@outlook.com;

Telephone: +234 8033469392

Jigawa State Profile

Jigawa is a state in northern Nigeria. Its capital is Dutse. The state was created on Tuesday August 27, 1991. Excised from Kano State it covers a total land area of about 22,410sq Km. It is bordered on the West by Kano State, on the East by Bauchi and Yobe States and on the North by Katsina and Yobe States and the Republic of Niger.

Basic Information

Capital	Dutse
Local Government Areas	Auyo, Babura, Biminwa, Brinin Kudu, Buji, Dutse, Gagarawa, Garki, Gumel, Guri, Gwaram, Gwiwa, Hadejia, Jahun, Kafin Hausa, Kaugama, Kazaure, Kiri Kasama, Kiyawa, Maigatari, Mallam Madori, Miga, Ringim, Roni, Sule Tankarkar, Taura, Yankwashi.
Land Area	23,287sqkm
Population	5,804,169	2017 est.
Labour Force	1,462,821	Q4 2020
Climate	Tropical Savannah, Hot desert and Semi-arid
Topograhy	Sandy, Surface Water

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Head Advocacy

Jigawa State Investment Promotion Agency

2nd Floor, Block A, State Secretariate, Dutse, Jigawa

Email: jamilahfarouk@investjigawa.gov.ng; jfarouk11@gmail.com

Telephone: +234 08167574342

Website: www.investjigawa.gov.ng

Kaduna State Profile

Kaduna is one of the major states in Nigeria. One etymological account states that Kaduna derived its name from the Gbayi ethnic group, which has lived there for centuries.

In 1967, Kaduna became the capital of the North Central State, which was created from the Northern region. By 1976, General Murtala Mohammed gave the state its name. In 1987, the military administration of General Ibrahim Babangida created the state of Katsina from Kaduna. Interestingly, the Nok tribe, one of Africa’s earliest civilizations is located within the area that makes up Kaduna. The state slogan is The Centre of Learning because it is home to a number of prestigious institutions. The Nigerian Defense Academy (NDA), Ahmadu Bello University (ABU), Nigerian College of Aviation, Zaria, Barewa College and Nuhu Bamalli Polytechnic among many others.

Basic Information

Capital	Kaduna
Local Government Areas	Birni – Gwari, Chikun, Giwa, Igabi, Ikara, Jaba, Jema’a, Kachia, Kaduna North, Kaduna South, Kagarko, Kajuru, Kaura, Kauru, Kubau, Kudan, Lere, Makarfi, Sabon – Gari, Sanga, Soba, Zangon – Kataf, Zaria.
Land Area	42,481sqkm
Population	8,216,037	2017 est.
Labour Force	2,505,417	Q4 2020
Climate	Tropical Savannah; Scattered short trees, shrubs and grasses
Topograph	Loamy, sandy and clay

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Business Process Outsourcing
• Energy
• Mining

Key Contacts

Umma Y. Aboki

The Executive Secretary

Kaduna Investment Promotion Agency (KADIPA)

Ground Floor Government House

Kaduna

Email: ummaaboki@gmail.com

Telephone: +234 8033033693

Head, Investment Relation

Kaduna Investment Promotion Agency (KADIPA)

Ground Floor Government House Kaduna

Email: mhbayero1@gmail.com

Telephone: +234 8165590026, +234 808733330

Kano State Profile

Created May 27th, 1967 and historically known as the Centre of Commerce in Nigeria. Strategically located at the center of northern Nigeria, Kano has served as a major entry port to the nation and as the Southern hub of the trans-Saharan trade route for centuries. The capital, Kano City, acts as a regional trade hub servicing a market of over 300 million people located in northern Nigeria, neighboring countries such as Niger, Chad and Cameroon.

Basic Information

Capital	Kano
Local Government Areas	Ajingi, Albasu, Bagwai, Bebeji, Bichi, Bunkure, Dala, Dambatta, Dawakin Kudu, Dawakin Tofa, Doguwa, Fagge, Gabasawa, Garko, Garum Mallam, Gaya, Gezawa, Gwale, Gwarzo, Kabo, Kano Municipal, Karaye, Kibiya, Kiru, Kumbosto, Kunchi, Kura, Madobi, Makoda, Minjibir, Nasarawa, Rano, Rimin Gado, Rogo, Shanono, Sumaila, Takai, Tarauni, Tofa, Tsanyawa, Tudun Wada, Ungogo, Warawa, Wudil.
Land Area	20,280sqkm
Population	13,007,402	2017 est
Laour Force	2,827,830	Q4 2020
Climate	Tropical, Savannah Hot Semi-arid
Topography	Loamy, Sandy and Clay

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Business Process Outsourcing
• Tourism
• Energy
• Mining

Key Contacts

The Director General

Kano State Investment Promotion Agency

Kano State

Email: itukur55@yahoo.co.uk, hafsatysani@yahoo.com

Telephone: +234 8035591241

Katshina State Profile

From pre-colonial times to the present, Katsina state has always been the shining star of the North. It is not only the cultural pacesetter of the region; it is also birthplace of the seven historic Hausa states that form the nucleus of what is today northwest Nigeria. The state was formed in 1987 from part of Kaduna State. The State is bounded in the East by Kano State, in the West by Sokoto State, in the South by Kaduna State and in the North by the Niger Republic.

Basic Information

Capital	Katsina
Local Government Areas	Bakori, Batagarawa, Batsari, Baure, Bindawa, Charanchi, Dan Musa, Dandume, Danja, Daura, Dustin – Ma, Dutsi, Faskari, Funtua, Ingawa, Jibia, Kafur, Kaita, Kankara, Kankia, Katsina, Kurfi, Kusada, Mai’adua, Malumfashi, Mani, Mashi, Matazu, Musawa, Rimi, Sabuwa, Safana, Sandamu, Zango.
Land Area	23,561sqkm
Population	7,796,844	2017 est.
Labour Force	1,735,849	Q4 2020
Climate	TropicalSavannah, Hot Semi-arid
Topography	Undulating Plains, Crystalline rocks

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Director General

Katsina State Investment Promotion Agency

Email: itukur55@yahoo.co.uk

Telephone: +234 8032873529

Kebbi State Profile

Kebbi State (slogan: Land of Equity) was created out of the then Sokoto State on 27 August 1991 by the government of General Ibrahim Badamosi Babangida. It lies in North-western Nigeria with its capital in Birnin Kebbi. It became part of the Songhai Empire in the fifteenth century. Kebbi State is bordered by Sokoto State to the North and East, Niger State to the South, Dosso Region in the Republic of Niger to the Northwest and the Republic of Benin to the West.

Basic Information

Capital	Birnin Kebbi
Local Government Areas	Aleiro, Arewa – Dandi, Argungu, Augie, Bagudo, Birnin Kebbi, Bunza, Dandi, Fakai, Gwandu, Jega, Kalgo, Koko / Besse, Maiyama, Ngaski, Sakaba, Shanga, Suru, Wasagu / Danko, Yauri, Zuru.
Land Area	36,985sqkm
Population	4,419,195	2017 est.
Labour Force	1,237,910	Q4 2020
Climate	Tropical Savannah, Hot Semi-arid
Topography	Rocky & Sandy

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Business Process Outsourcing
• Tourism
• Energy
• Mining

Key Contacts

Kogi State Profile

Kogi is a state in the north-central zone of Nigeria and commonly referred to as the confluence state, a named derived from Lokoja as being the city of confluence of Rivers Niger and Benue. The State is bounded in the north by Niger, Kwara, Nassarawa and the Federal Capital Territory, to the East by Benue and Enugu states, south by Enugu and Anambra States, and to the west by Ondo, Ekiti and Edo states. Kogi State was carved out of Benue and Kwara States on August 27, 1991.

The Ajaokutal Steel Company, standing on a 24,000 hectare land, is located in the State. The industry, potentially, is the bedrock for the industrialization of Nigeria.

Basic Information

Capital	Lokoja
Land Area	27,747sqkm
Population	4,453,797	2017 est.
Labour Force	1,983,882	Q4 2020
Climate	Tropical Savannah
Topography	Woodland, Forestry

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Tourism
  
• Energy
• Mining

Key Contacts

The Chief of Staff to the Governor

Kogi State Investment Promotion Agency

Along Zone 8 Road,Lokoja Kogi

Email: kogistateeconomicteam@gmail.com, anusiy@gmail.com, achileomali@gmail.com

Telephone: +234 8036015331 +234 8037974282

Kwara State Profile

Kwara State was created in May 1967, as one of the first of 12 states to replace the nation’s four regions. Originally the state was known as West Central State but the name was changed to Kwara, a local name for the Niger River. The size of the state has been reduced over the years, as new states have been created within the federation.

Basic Information

Capital	Ilorin
Local Government Areas	Asa, Baruten, Edu, Ekiti, Ifelodun, Illorin East, Illorin South, Illorin West, Irepodun, Isin, Kaiama, Moro, Offa, Oke-Ero, Oyun, Pategi.
Land Area	35,705sqkm
Population	3,178,837	2017 est.
Labour Force	1,458,151	Q4 2020
Climate	Tropical Savannah
Topography	Rocky

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Permanent Secretary

Ministry of Commerce and Cooperatives

State Secretariat, Kwara

Email: nimabi1961@gmail.com

Telephone: +234 8136436851

Website: www.kwarastate.gov.ng

Lagos State Profile

Lagos State is located in the Southwestern geopolitical zone of Nigeria. It was created on the 27th of May 1967. Lagos State spans the Guinea coast of the Atlantic Ocean for over 180km., from the Republic of Benin on the west to its boundary with Ogun state in the east.

Basic Information

Capital	Ikeja
Local Government Areas	Agege, Ajeromi Ifelodun Ajegunle, Alimosho, Amuwo Odofin, Apapa, Badagry, Epe, Ibeju-Lekki, Ifako Ijaye, Ikeja, Ikorodu, Kosofe, Lagos Island Isale-Eko, Lagos Mainland, Mushin, Ojo, Oshodi Isolo, Shomolu, and Surulere.
Land Area	3,671sqkm
Population	12,487,836	2017 est.
Labour Force	4,971,488	Q4 2020
Climate	Tropical Savannah
Topography	Islands, Sandbars and Lagoons

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Abdul-Ahmed Mustapha

Office of Overseas Affairs & Investment

3rd Floor Administrative Building

Alausa, Lagos

Email: abdul.mustapha@gmail.com; info@lagosglobal.org saidat60@yahoo.co.uk

Telephone: 08174516679

Website: www.lagosglobal.org, www.lagosstate.gov.ng

Nasarawa State Profile

Nasarawa state was created in 1996 out of neighboring Plateau state. Located in the North-Central region of Nigeria, it is bordered on the West by the Federal Capital Territory, the North by Kaduna, the South by Benue and Kogi, and on the East by Plateau and Taraba states.

Basic Information

Capital	Lafia
Local Government Areas	Akwanga, Awe, Doma, Karu, Keana, Keffi, Kokona, Lafia, Nasarawa, Nasarawa Egon, Obi, Toto, Wamba
Land Area	28,735sqkm
Population	2,512,286	2017 est.
Labour Force	1,102,696	Q4 2020
Climate	Tropical Savannah
Topography	Hilly

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Deputy General Manager, Investment

Nasarawa Investment & Property Dev. Company

32, Investment House, Jos Road, Lafia

Email: kasimubabaabdullahi@gmail.com; kasimubaba@yahoo.com;

Telephone: +234: 8037032460, +234 8036584832

Specific licensing requirements and procedures

Taxes,incentives and custom duty concessions

Niger State Profile

Niger State was created on 3rd February 1976 from the defunct North-Western State during the regime of General Murtala Ramat Mohammed. Zamfara State, West by Kebbi State, South by Kogi State, South West by Kwara State, Northeast by Kaduna State and South East by FCT border the State to the North. The State also has an International Boundary with the Republic of Benin along Agwara and Borgu LGAs to the North West.

Basic Information

Capital	Minna
Local Government Areas	Agaie, Agwara, Bida, Borgu, Bosso, Chanchaga, Edati, Gbako, Gurara, Katcha, Kontagora, Lapai, Lavun, Magama, Mariga, Mashegu, Mokwa, Munya, Paikoro, Rafi, Rijau, Shiroro, Suleja, Tafa, Wushishi.
Land Area	68,925sqkm
Population	5,524,931	2017 est.
Labour Force	1,716,829	Q4 2020
Climate	Tropical Savannah
Topography	Rocky

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Director General

One-Stop-Shop Investment Centre (OSIC)

Minna Niger State

Email: sarkibello@yahoo.co.uk

Telephone: +234 8033327693

Ogun State Profile

Ogun State is located in the South-Western region of Nigeria and is categorized under the Yoruba ethnic group. It is referred to as the “gateway to Nigeria” and is home to the modern city of Abeokuta, its state capital. A number of large investors in Nigeria (including Nestle and DHL) are situated in Ogun State, and this is mainly as a result of the incentives the state provides for investments.

Basic Information

Capital	Abeokuta
Local Government Areas	Abeokuta North, Abeokuta South, Ota, Ewekoro, Ifo, Ijebu East, Ijebu North, Ijebu North East, Ijebu Ode, Ikenne, Imeko Afon, Ipokia, Obafemi Owode, Odogbolu, Odeda, Ogun Waterside, Remo North, Sagamu, Yewa North and Yewa South.
Land Area	16,400 sq km
Population	5,189,990	2017 est.
Labour Force	2,370,574	Q4 2020
Climate	Coastal, Rainforest, Savannah
Topography	Rocky

Socio-economic Profile

Investment Opportunities

• Agribusiness
• Light Manufacturing
• Healthcare
• Energy
• Mining
• Tourism

Key Contacts

Mrs Babi Subair

Special Adviser to the Governor 

One-Stop Investment Centre (OSIC)

Ogun State Secretariat 

Block D, Room 114 - 115

Oke Mosan

Abeokuta

Ogun State

email: babi.subair@ogunstate.gov.ng

web address: www.ogunstate.gov.ng

Ondo State Profile

Ondo State is a state in the South-Western region of Nigeria. The economy of Ondo State is the sixth largest in Nigeria and is dominated by crude oil and crop production. Ondo State is a peaceful state with an abundance of investment opportunities. Ondo presents a spectrum of investment opportunities across a range of sectors.

Basic Information

Capital	Akure
Local Government Areas
Land Area	15,820sqkm
Population	4,651,129	2017 est.
Labour Force	2,495,918	Q4 2020
Climate	Tropical Savannah & Tropical Monsoon
Topography	Rocky & Swampy

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Special Adviser to the Governor

Ondo State Development and Investment Promotion Agency (ONDIPA)

Email: boye@silveragegroup.com; boye.oyewumi@ondostate.gov.ng; boye@ondipa.org

Telephone: +234 8034002234

Oyo State Profile

Oyo State popularly referred to, as the “Pace Setter” is one of the 36 States of the Federal Republic of Nigeria. It came into existence with the break up of the old Western State of Nigeria during the State creation exercise in 1976 and it originally included Osun State, which was split off in 1991. The first university in Nigeria is the University of Ibadan (established as a college of the University of London when it was founded in 1948, and later converted into an Autonomous university in 1962).

Basic Information

Capital	Ibadan
Local Government Areas	Akinyele, Afijio, Egbeda, Ibadan North, Ibadan North-East, IbadanNorth-West, Ibadan South-West, Ibadan South-East, Ibarapa Central, Ibarapa East, Ido, Irepo, Iseyin, Kajola, Lagelu, Ogbomosho North, Ogbomosho South, Oyo West, Atiba, Atigbo, Saki West, Saki East, Itesiwaju, Iwajowa, Ibarapa North, Olorunsogo, Oluyole, Ogo Oluwa, Surulere, Orelope, Ori Ire, Oyo East, Ona Ara.
Land Area	26,500 km2
Population	7,540,300	2017 est.
Labour Force	3,315,261	Q4 2020
Climate	Tropical Savannah
Topography	Rocky

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Executive Secretary

Bureau of Investment Promotion

Room 30, Governor's Office, Secretariat, Parliament Road, Agodi, Ibadan, Oyo

Email: yinkafatoki@gmail.com;

Telephone: +234 8021180877

Osun State Profile

Osun State is located in the South-Western region of Nigeria and is categorized under the Yoruba ethnic group. There are over two hundred towns in Osun State. Its capital is Osogbo, which is home to the Osun-Osogbo Grove, a UNESCO World Heritage Site. Osogbo can be reached from any part of the state by road within an hour. The state also has a natural rail line that cuts through its capital. Economic activities in Osun State are predominantly commerce and farming. A number of rivers flow through Ogun State and provide irrigation for its agronomic activities.

Basic Information

Capital	Osogbo
Local Government Areas	Aiyedaade, Aiyedire, Atakunmosa East, Atakunmosa West, Boluwaduro, Boripe, Ede North, Ede South, Egbedore, Ejigbo, Ife Central, Ife East, Ife North, Ife South, Ifedayo, Ifelodun, Ila, Ilesa East, Ilesa West, Irepodun, Irewole, Isokan, Iwo, Obokun, Odo Otin, Ola Oluwa, Olorunda, Oriade, Orolu and Osogbo.
Land Area	9,026sqkm
Population	4,682,057	2017 est.
Labour Force	1,847,205	Q4 2020
Climate	Tropical Savannah
Topography	Rocky

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Energy
• Mining
• Tourism

Key Contacts

Ministry of Economic Planning and Budget

State Government of Osun,
Osogbo

Email: olalekanyinusa@gmail.com; yinusaolalekan@yahoo.com

Telephone: 08035171663

Plateau State Profile

Plateau State was created in 1976 from the old Benue-Plateau State. In 1996, Plateau State was further subdivided to create Nasarawa State, which was carved out of the western half of Plateau State by Sani Abacha’s military regime. Adjacent states: Bauchi State to the Northeast, Kaduna to the Northwest, Nasarawa State to the South West, and Taraba State to the South East border the state. The state is named after the picturesque Jos Plateau, a mountainous area in the north of the state with captivating rock formations.

Basic Information

Capital	Jos
Local Government Areas	Jos North, Jos South, Jos East, Bassa, Kanam, Barakin Ladi, Quai’an-Pam, Wase, Langtang North, Langtang South, Pankshin, Shendam, Riyom, Mikang, Kanke, Mangu and Bokkos
Land Area	27,147sqkm
Population	4,185,428	2017 est.
Laour Force	1,284,574	Q4 2020
Climate	Tropical Savannah
Topography	Rocky

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Rivers State Profile

Rivers State is in the South-South of Nigeria and its capital, Port Harcourt, is its largest city and is regarded as the centre of Nigeria’s oil and gas industry. Rivers State is on Nigeria’s coastline and has a number of seaports. Prior to the discovery of oil in Rivers State, Agriculture was the mainstay of its economy. About 39 percent of the state’s total land mass is suitable for crop cultivation. Rivers State also has a lucrative fishing industry.

Basic Information

Capital	Port Harcourt
Local Government Areas	Port-Harcourt, Obio-Akpor, Okrika, Ogu-Bolo, Eleme, Tai, Gokana, Khana, Oyigbo, Opobo-Nkoro, Andoni, Bonny, Degema, Asari-Toru, Akuku-Toru, Abua-Odual, Ahoada West, Ahoada East, Ogba-Egbema-Ndoni, Emohua, Ikwerre, Etche and Omuma.
Land Area	10,575sqkm
Population	7,262,756	2017 est
Labour Force	3,940,441	Q4 2020
Climate	Tropical Monsoon & Tropical Rainforest
Topography	Swampy

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Permanent Secretary

Ministry Commerce, Trade and Industries

Rivers State

Email: nkemladi@yahoo.com

Telephone: 08037055587

Sokoto State Profile

Sokoto state is located in the Northwestern region of Nigeria. Created in 1967, the state shares its borders with Niger Republic to the North, Katsina State to the East, Zamfara State to the Southeast, Kebbi State to the South and Benin Republic to the West.

Basic Information

Capital	Sokoto
Local Government Areas	Binji, Bodinga, Dange-shnsi, Gada, Goronyo, Gudu, Gawabawa, Illela, Isa, Kware, kebbe, Rabah, Sabon birni, Shagari, Silame, Sokoto North, Sokoto South, Tambuwal, Tqngaza, Tureta, Wamako, Wurno, Yabo.
Land Area	27,825sqkm
Population	4,976,087	2017 est.
Labour Force	1,121,328	Q4 2020
Climate	Hot Semi-Arid & Tropical Savannah
Topography	Open Grassland

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Chairman

Sokoto State Investment Company Ltd

8, Kano Road, Sokoto

Email: tukuree@yahoo.com; sakkwato@gmail.com

Telephone: +234 8036060044, +234 8065296661

Taraba State Profile

Taraba State was created on August 27th, 1991 out of the defunct Gongola State. Aptly christened ‘Nature’s Gift to the Nation’. The state derives its name from River Taraba and lies in the Northeast geopolitical region of Nigeria; Taraba State shares common boundaries with Bauchi and Gombe State to the North, Adamawa State to the Northeast, Plateau State to the West and Benue state to the Southwest and Eastern part of the State. It also shares International Boundaries with the Republic of Cameroun to the Southern and Eastern parts of the state.

Basic Information

Capital	Jalingo
Local Government Areas	Ardo Kola, Bali, Donga, Gashaka, Gassol, Ibi, Jalingo, Karim Lamido, Kurmi, Lau, Sardauna, Takum, Ussa, Wukari, Yorro, and Zing.
Land Area	56,282sqkm
Population	3,054,208	2017 est.
Labour Force	990,728	Q4 2020
Climate	Tropical Savannah & Subtropical highland oceanic
Topography	Mountainous

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Managing Director

Taraba Investment and Properties Limited

Taraba

Email: rabiuahmadbako@gmail.com

Telephone: +234 8065416167

Yobe State Profile

Yobe State is located in the North eastern geopolitical zone. The state was created on the 27 of August, 1991. Its major towns include Potiskum (the largest city), Nguru, Geidam, Bade, Fika and Damaturu which is the state’s capital. The major ethnic groups living in Yobe are Kanuri, while other ethnic communities include Ngizin, Karai-Karai, Bolewa, Bade, Hausa, Ngamo, Shuwa, Fulani (Bura) and Maga.

Basic Information

Capital	Damaturu
Local Government Areas	Bade, Bursari, Damaturu, Fika, Fune, Geidam, Gujba, Jakusko, Karasuwa, Machina, Nangere, Nguru, Potiskum, Tarmuwa, Yunusari, Yusufari.
Land Area	46,609sqkm
Population	3,274,478	2017 est.
Labour Force	579,117	Q4 2020
Climate	Hot Semi-Arid, Hot Desert & Tropical Savannah
Topography	Sandy

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Managing Director

Yobe Investment Company Ltd

Email: hamzasaidu1966@gmail.com; littleliquid83@gmail.com; yobeinvestment@gmail.com;

Telephone: +234 8062347777

Zamfara State Profile

Zamfara State is a state in Northwestern Nigeria and its capital is Gusau. Until 1996 the state was part of Sokoto State. Zamfara is bounded by Sokoto State on the North, Niger and Kaduna States on the South, Kebbi State on the West, and Katsina State on the East. The occupation of the people of the state is primarily farming, hence, the State slogan- “Farming is our Pride”

Basic Information

Capital	Gusau
Local Government Areas	Zurmi, Maradun, Talata Mafara, Gusau, Kaura Namoda, Bungudu, Chafe, Maru, Anka, Bukkuyum, Gummi, Bakura, Birin Magaji/Kiyaw and Shinkafi.
Land Area	37,931sqkm
Population	4,492,846	2017 est.
Labour Force	1,559,110	Q4 2020
Climate	Tropical Savannah & Hot Semi-Arid
Topography	Rocky

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Managing Director

Zamfara State Investment Property Development Company

Gusau, Zamfara State

Email: murygusau2014@gmail.com

Telephone: 8099407720

FCT Profile

The Federal Capital Territory (FCT) is the home of Abuja, the capital of Nigeria. The territory was formed in 1976 from parts of former Nasarawa, Niger, and Kogi States and it is in the central region of Nigeria, bordered to the north by Kaduna State, to the east by Nassarawa State, to the southwest by Kogi State and to the west by Niger State.

Basic Information

Administrative City	Abuja
Local Government Areas	Abaji, Abuja Municipal, Gwagwalada, Kuje, Bwari, and Kwali.
Land Area	7,607sqkm
Population	3,421,848	2017 est.
Labour Force	1,643,252	Q4 2020
Climate	Rocky
Topography	Mountainous

Investment Opportunities

Opportunities for investment exist in:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

Key Contacts

Coordinator

Abuja Infrastructure Investment Centre

Investment House,

No. 4 Nkwere Street

Off Muhammadu Buhari,

Garki 2, Abj

Email: musakubau@yahoo.com

Telephone: +234 8037860431