For full compliance with the law, enterprises operating in Nigeria are required to:
The Business Facilitation Act (BFA) 2022 has amended business entry procedures, simplifying registration and expanding business operation frameworks in the country.
Relevant documents | Companies and Allied Matters Act 2020 Business Facilitation (Miscellaneous) Act (BFA) 2022 Nigerian Investment Promotion Commission Act 1995 Finance Act 2019 |
Relevant institutions | CAC FIRS NIPC |
A. Private Limited Liability Company (LTD)
The most common business structure, ideal for small to medium-sized enterprises. It requires a minimum share capital of NGN1,000,000 and offers limited liability, protecting owners from personal debts. An LTD must have at least two and no more than fifty shareholders, and its shares cannot be publicly traded. This structure provides flexibility while ensuring financial protection.
Designed for large businesses seeking public investment, a PLC requires a minimum share capital of NGN2,000,000 for incorporation and NGN500,000,000 for stock exchange listing. It allows unlimited shareholders and free transfer of shares, making it suitable for companies with expansion plans.
Ideal for non-profits, charities, and associations, a GTE limits members' liability to their guaranteed contributions. It serves organizations focused on social, educational, religious, or charitable purposes rather than profit-making.
This structure does not limit members' liability, meaning they are personally responsible for all debts. Rare in Nigeria, it is mainly used by professional service firms requiring unrestricted financial liability.
Combines the flexibility of a partnership with limited liability protection. It requires at least two designated partners, one of whom must reside in Nigeria. Commonly used by law firms, consultants, and accountants. Foreign LLPs must register before operating in Nigeria.
Consists of general partners (who manage and bear full liability) and limited partners (who invest but have limited liability). The total number of partners cannot exceed 20. Suitable for investment-driven ventures like private equity and real estate firms.
Sole Proprietorship – The simplest structure, owned and managed by one person. It offers full control but no liability protection, making personal assets vulnerable. Suitable for freelancers, artisans, and small businesses.
Business Name (Enterprise) – A registered business name without a separate legal entity. Cost-effective for small businesses and sole proprietors but lacks liability protection.
Incorporated Trustees – Used by NGOs, religious organisations, and humanitarian groups. Governed by a board of trustees, ensuring compliance and public benefit.
Relevant institutions | CAC |
To incorporate a business in Nigeria, follow the following steps:
STEP 1. Create an Account: Visit the CAC Registration Portal to create an account, which will be used for all your business registration activities.
STEP 2. Conduct a Name Availability Search: Use the CAC Public Search Tool to ensure your desired preferred business name is unique and available.
STEP 3. Reserve Your Business Name: After confirming name availability, reserve the name through the Name Reservation Page.
STEP 4. Complete the Pre-Registration Form: Log in to your CAC account and complete the appropriate pre-registration form for your type of business (e.g., Limited Liability Company, Business Name, Incorporated Trustee). Provide all necessary details, including information about proprietors, partners, or directors.
STEP 5. Upload Required Documents: Prepare and upload scanned copies of the necessary documents, such as:
STEP 6. Pay Filing Fees and Stamp Duty: Calculate and pay the required fees directly through the CAC portal, which provides a breakdown of fees for various services.
STEP 7. Submit the Application: After completing the forms and uploading documents, submit your application online for processing.
STEP 8. Obtain the Certificate of Incorporation: Once approved, download your Certificate of Incorporation and the Certified Extracts of Registration from the CAC portal.
For detailed guidelines and access to the registration portal, visit the CAC's official website.
Please note that the specific requirements and processes may vary depending on the type of business entity you are registering. It is advisable to consult the CAC's resources or seek professional assistance to ensure compliance with all legal requirements.
2. Form CAC 1.1 (Application for Registration) – This is the primary registration form containing company details, including directors, shareholders, and company secretaries.
3. Memorandum and Articles of Association (MEMARTs) – Defines the company's structure, objectives, and governance (mandatory for Limited Liability Companies).
4. Proficiency Certificate (if applicable) – Required for businesses in regulated sectors (e.g., legal, medical, engineering, or financial services).
5. Recognized Means of Identification – For all Directors, Shareholders, and the Company Secretary (any of the following):
6. Foreign Certificate of Incorporation and Board Resolution (if applicable) – Required if a foreign company or entity is subscribing to shares in a Nigerian company.
7. Residence Permit of Resident Foreigners (if applicable) – A requirement for foreigners residing in Nigeria who are part of the company's board or shareholders.
8. Stamp Duty Payment Evidence – Proof of payment via the Federal Inland Revenue Service (FIRS).
9. Evidence of CAC Incorporation Fee Payment – The incorporation fee depends on the share capital of the company.
10. Declaration of Compliance (Form CAC 4) – A document signed by a lawyer confirming that the company complies with the Companies and Allied Matters Act (CAMA).
Notes:
The Companies and Allied Matters Act (CAMA) 2020 and Business Facilitation (Miscellaneous Provisions) Act 2023 provide exemptions to specific categories of business enterprises from incorporation in Nigeria.
A. Under Section 788(2) of CAMA 2020, a Foreign Limited Liability Partnership (LLP) intending to operate in Nigeria is required to incorporate as a separate entity. However, certain exemptions allow a foreign LLP to operate without incorporation. These exemptions apply if the LLP is:
Invited by or with the approval of the Federal Government to execute a specific project: This includes LLPs brought in for particular assignments endorsed by the Nigerian government.
In Nigeria to execute a specific loan project on behalf of a donor country or international organisation, LLPs engaged in projects funded by foreign donors or international bodies fall under this category.
Owned by a foreign government and engaged solely in export promotion activities: This pertains to LLPs established by foreign governments focusing exclusively on promoting exports.
An engineering and technical expert engaged in a specialist project under contract with any government in the Federation or their agencies, approved by the Federal Government: This includes LLPs providing specialized technical or engineering services for government-approved projects.
All applications for exemption shall be forwarded to the Minister of Industry, Trade and Investment in compliance with the Companies Regulations 2021.
B. The Business Facilitation (Miscellaneous Provisions) Act 2023 expanded the categories of foreign companies exempt from incorporation in Nigeria to include those granted exemptions under any existing Act of the National Assembly.
Relevant documents | Companies Regulations 2021 Companies and Allied Matters Act 2020 Business Facilitation (Miscellaneous) Provisions Act |
Relevant institutions | CAC |
In compliance with the Stamp Duties Act, companies are required to pay Stamp Duties on the share capital of the company being incorporated, and the amount varies according to the company’s share capital.
1. Documents submitted for the payment of Stamp Duties are
2. Fees payable in respect of Stamp Duties on Business Incorporation
3. Please check with FIRS for the prevailing fees at the time of payment
Relevant institutions | FIRS |
The Nigerian Investment Promotion Commission Act, Chapter N117, Laws of the Federation of Nigeria 2004 (NIPC Act), established the Nigerian Investment Promotion Commission (NIPC) to encourage, promote, and coordinate all investments in Nigeria. This act also regulates the participation of foreign-owned businesses in the country.
Relevant documents | NIPC Act Nigeria Coast Inland Shipping Act 2003 |
Relevant institutions | NIPC |
To process NIPC Business Registration, go to the registration portal and fill in the required form. The following documents are required:
Memorandum & Articles of Association
CAC Certificate of Incorporation
CAC Status report (CAC Form 1.1 or CAC Forms CO2 and CO7 for old companies)
Power of Attorney/ Letter of Authority (optional)
Evidence of Payment of Processing Fee (The payment for business registration is made via remita and non-refundable).
Processing fee of N150,000.00 only
The One-Stop Investment Centre (OSIC) is the investment facilitation mechanism of the Nigerian Investment Promotion Commission (NIPC) that brings 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 in doing business in Nigeria.
Specifically, OSIC provides the following services:
The Centre presently has twenty-five (25) participating agencies.
Relevant institutions | NIPC |
Nigeria's primary legislation governing Environmental Impact Assessments (EIAs) is the Environmental Impact Assessment Act (Cap E12, LFN 2004). This law mandates that investors conduct an EIA to assess and mitigate potential environmental risks before embarking on any project that may significantly impact the environment.
Other relevant legal frameworks include:
While the Federal Ministry of Environment (FedEnv.), through the National Environmental Standards Regulatory and Enforcement Agency (NESREA) is primarily responsible for overseeing EIAs in Nigeria, their activities are complemented by compliance enforcement agencies at sector and sub-national levels - the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in the oil & gas sector and State Environmental Protection Agencies (SEPAs) at the state level.
Relevant documents | NESREA ACT 2007 Environmental Impact Assessment Act EIA Procedural Guideline EIA Applicable Fees Hamful Waste Act |
Relevant institutions | NESREA NUPRC FMEnv |
While environmental impact is evident across all sectors, Section 15 of the Environmental Impact Assessment (EIA) Act (Cap E12, LFN 2004) mandates that project promoters undertaking the following activities, which have been identified as having significant environmental and social impacts, must conduct an EIA and obtain the necessary approval before commencing project execution.
Agriculture |
|
Drainage and Irrigation |
|
Land Reclamation |
|
Fishing Activities |
|
Forestry |
|
Housing Development |
|
Airport Development |
|
Infrastructure Development |
|
Ports and Harbours |
|
Waste Treatment and Disposal |
|
Water Supply |
|
Power Generation and Transmission |
|
Industry |
|
Mining and Quarrying |
|
Tourism and Recreational Development |
|
This list ensures that projects with significant environmental and social impacts undergo a thorough assessment before implementation. Investors in these sectors must obtain EIA approval from the FMEnv or relevant regulatory bodies before proceeding with their projects.
Relevant documents | Environmental Impact Assessment Act |
Relevant institutions | FMEnv |
The Environmental Business Permit (EBP) is issued by the National Environmental Standards and Regulations Enforcement Agency (NESREA) to regulate activities with potential environmental impacts and ensure compliance with the NESREA Act, 2007 and its associated environmental regulations.
This permit is a mandatory compliance requirement for investors engaged in industries that have significant environmental footprints, including:
The Permit covers key environmental compliance areas, including waste management, air emissions, effluent discharge, hazardous substances handling, and noise pollution control. Obtaining this permit ensures that businesses operate in line with environmental safety standards, reducing risks to public health and the ecosystem.
For effective guidance and compliance enforcement, NESREA has developed and published thirty-five (35) Environmental Regulations, covering various activities to ensure sustainable environmental management and protection in Nigeria.
Relevant documents | NESREA Act |
Relevant institutions | NESREA |
Africa’s most populous country has an estimated population of 193 million, with more than half of its people under 30 years of age. Adult literacy rate is 59.6%.
Skills
There are four levels of education in Nigeria:
After obtaining the Basic Education Certificate, students can opt for 3 years of vocational education to obtain either the National Technical Certificate (NTC) or the National Business Certificate (NBC), both of which prepare their graduates to enter the labour market. The National Business and Technical Examination Board (NABTEB) conducts the examinations and issues the certificates.
On the other hand, students may choose to
complete 3 years of senior secondary school, to obtain the Senior School
Certificate, issued by either the West African Examinations Council (WAEC) or
the National Examinations Council (NECO). This certificate is required
alongside a successful completion of the University Tertiary Matriculation
Examination (UTME) to access 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.
Relevant institutions | NYSC |
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.
Relevant documents | Labour Act |
Relevant institutions | FMLE |
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.
Relevant documents | Factories Act |
Relevant institutions | FMLE |
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.
Relevant institutions | FMLE |
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.
Benefits | Number of days | Wages |
---|---|---|
Annual | Minimum of 6 days (for employees above 16 years old) 12 days for persons below 16 years (including apprentices) | Full Pay |
Sick Leave | Maximum of 12 days (certified by a registered medical practitioner | Full Pay |
Maternity Leave | 12 weeks (comprising 6 weeks immediately before and after childbirth) | Usually fully paid, but legally not less than 50% of wages, if the woman had been employed for at least 6 months. |
Relevant institutions | FMLE |
Contributory
Pension Scheme
Relevant documents | Pension Reform Act 2014 |
Relevant institutions | PENCOM |
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.
Relevant documents | Employee Compensation Act |
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.
Relevant documents | National Housing Fund Act |
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
Relevant documents | NHIS Operational Guidelines National Health Act 2014 |
Relevant institutions | NHIA |
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
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.
Relevant documents | Industrial Training Fund Act 2011 |
Relevant institutions | ITF |
Employer
contribution | Employee
Contribution | |
Pension
Contribution | 10% of
employee’s salary | 8% of
salary |
National
Housing Fund | None | 2.5%
of basic salary |
National
Health Insurance Scheme | 10% of
employee’s basic salary | 5% of
basic salary |
Industrial
Training Fund | 1% of
annual payroll | None |
Employee
Compensation Scheme | 1% of
annual payroll | None |
Relevant documents | Immigration Act 2015 |
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:
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:
All the above documents are required for processing. Failure to submit any of the documents may lead to delays.
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:
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.
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.
Relevant institutions | NIS |
The following permits are also available to foreigners coming into Nigeria for business or work:
Business VisaRelevant documents | Immigration Facilities Handbook 2017 Immigration Act 2015 Executive Order 001 |
Relevant institutions | NIS |
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.
Relevant institutions | NIS |
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.
The Nigerian Electricity Regulatory Commission (NERC) regulates the business of electricity generation, transmission, distribution and marketing in Nigeria.
Electricity is supplied directly to customers by the distribution companies (popularly called DisCos) which cover specific geographical areas as shown in the table below. There is also provision for licensing Independent Electricity Distribution Networks (IEDN) in addition to the DisCos.
The Multi-Year Tariff Order (MYTO) is the methodology adopted by NERC for setting electricity tariffs in Nigeria. It provides a 15-year tariff path with annual minor reviews, and major reviews every 5 years.
Customers are classified into any of the following tariff classes:
Residential (R)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.
The procedure for obtaining electricity is as laid out below:
The customer does not pay meter or installation costs as these are already covered by the electricity tariff.
See Link: Disco Tariffs
Responsibility for water supply is shared between the Federal, State and Local Governments. The Federal Ministry of Water Resources provides policy advice, monitoring and coordination of water resources development, while the State Water Agencies (SWA) are responsible for actual urban, semi-urban and rural water supply.
In Abuja, the source of urban water supply is not boreholes but surface water treatment system (River Usuma) then to our dam and treated for supply into our networks for customers. There are two types of water billing in Nigeria. Flat rate billing is allocated to the property type based on the estimated consumption per billing cycle. Meter rates on the other hand, help the government measure the actual consumption of water, and bill on that basis.Water rates vary from state to state.
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 |
Generally, especially in urban areas, boreholes are a major source of water for commercial and residential properties. However, the policy of the Lagos State Water Corporation (LSWC) is to meter all properties even where water comes from boreholes installed by the property owner, starting with commercial/industrial ones and this is being done gradually.
There are four major GSM (Global System for Mobile communication) operators in Nigeria: Airtel, Globacom, MTN and 9mobile with a combined subscriber base of about 150 million. The launching of GSM in the country has significantly improved the country’s domestic and international telecommunication services. Fixed Wired and Wireless services are provided by Visafone, Multilinks, MTN, Glo, Ntel, ipNX and 21st Century.
Under the current unified licensing regime, which was introduced by the Nigerian Communications Commission in 2006, there is no more segmentation of wireless licences into mobile and fixed service categories. On allocation of a spectrum, all licensees are free to offer voice, data or multimedia services as they deem fit. This harmonised platform has led to increased competition from all the telecommunication service operators in the country.
Each telecoms provider has an array of voice and data plans for customers to choose from. The number of internet users in Nigeria is about 90 million (or 53% of the population), which is the highest in Africa. Data services are provided by the afore-mentioned GSM operators, as well as several Internet Service Providers (ISP). Many of these offer fibre-optic services across the country, with 4G LTE available in Lagos, Ibadan, Abuja and Port Harcourt. Data plans vary by ISP, city, duration and choice of plan but monthly subscriptions start around $5.60 (excluding the cost of the modem).
Relevant Links: Tariff Information for major GSM companies, Internet Service Providers in Nigeria, Subscriber statistics for mobile and fixed telephony services
Unit | Value | Year | Comment | |
---|---|---|---|---|
On-net calls | USD | 0.0003 | 2018 | per second |
Off-net calls | USD | 0.0003 | 2018 | per second |
Local SMS | USD | 0.0111 | 2018 | per unit |
International SMS | USD | 0.0416 | 2018 | per unit |
Data | USD | 0.0001 | 2018 | per kilobyte |
Relevant institutions | Nigerian Copyright Commission (NCC) |
With 195,000 km of roads, Nigeria has the largest road network in West Africa, and second largest South of the Sahara. About 32,000 km of these are federal roads; 31,000 km are state roads, while the rest are local government roads.
The road transport system remains the most widely used transportation system in the county, accounting for 90 percent of commodity movements to and from the seaports, and other internal movements of goods and persons. The federal road network accounts for about 70 percent of the national vehicular and freight traffic.
The Federal
Ministry of Works is currently working to improve various sections of the
Federal Highway network and has given top priority to the North-South,
East-West routes used for the distribution of goods and services across the
country and major bridges. Also prioritised are roads which link major routes,
factories, agricultural producing hubs, mining depots, major ports and mineral
producing areas.
The Trans-Africa Highway is a network of nine (9) highways being developed to connect all regions of Africa. It aims to give every African country access to markets and ports and alleviate poverty through the development of highway infrastructure and management of road-based trade corridors. When completed, the total length of the highways will be over 56, 000km.
Nigeria is strategically located along four routes of the highway:
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.
Unit | Value | Year | Comment | |
---|---|---|---|---|
Abuja to Kaduna | Naira | 900 | 2017 | First Class (Adult) |
Abuja to Kaduna | Naira | 450 | 2017 | First Class (Children) |
Abuja to Kaduna | Naira | 600 | 2017 | Second Class (Adult) |
Abuja to Kaduna | Naira | 300 | 2017 | Second Class (Children) |
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.
Unit | Value | Year | Comment | |
---|---|---|---|---|
Abuja | Naira | 25,274 | 2018 | Economy Class |
Abuja | Naira | 45,000 | 2018 | Business Class |
Port Harcourt | Naira | 25,200 | 2018 | Economy Class |
Port Harcourt | Naira | 45,000 | 2018 | Business Class |
Enugu | Naira | 26,000 | 2018 | |
Owerri | Naira | 25,200 | 2018 | Economy |
Owerri | Naira | 45,000 | 2018 | Business Class |
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.
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:
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
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 |
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.
Unit | Value | Year | Comment | |
---|---|---|---|---|
Petrol/Fuel | USD | 0.41 | 2018 | 1 litre |
Diesel | USD | 0.51 | 2018 | 1 litre |
Cement | USD | 5.60 | 2018 | |
Milk | USD | 1.37 | 2018 | 1 litre |
Bread | USD | 0.94 | 2018 | 1 loaf |
Rice | USD | 2.27 | 2018 | 1 kg |
Eggs | USD | 1.68 | 2018 | Pack of 12 eggs |
Chicken Breasts | USD | 3.54 | 2018 | 1 kg |
Beef Round | USD | 3.95 | 2018 | 1 kg |
Apples | USD | 2.60 | 2018 | 1 kg |
Bottled water | USD | 0.45 | 2018 | 1.5 litres |
Domestic beer | USD | 0.84 | 2018 | 0.5 litre bottle |
Imported beer | USD | 1.77 | 2018 | 0.33 litre bottle |
Coca Cola | USD | 1.18 | 2018 | 2 litre bottle |
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.
The Land Use Act of 1978 vests ownership of all urban land within a state (except those vested in the Federal Government or its agent) in the State Governor who holds land in trust for the people and allocates same for residential, commercial, agricultural and other purposes. Similar powers with respect to rural (or non-urban) areas are vested in the Local Governments. This means the government becomes the lessor, responsible for granting leases.
There are two rights of occupancy: a statutory right of occupancy granted by the State Government and a customary right of occupancy granted by the Local Government. Leases are typically granted for 99 years, subject to review upon expiration. Title deeds/documents serve as documentary evidence of ownership and include:
Certificate of Occupancy (C of O)
This is a title document issued by the President, Governor or Local Government Chairperson which contain the terms of lease and grant rights of occupancy to the holder for the leasehold term stipulated therein.
Deed of assignment
This is a document of transfer of land from a seller to a buyer. It outlines the agreement between the person with the rights to a piece of land and the person to whom the rights are being transferred. It contains a detailed description of the land (including its ownership history), the agreed cost, and the date from which transfer takes effect.
Governor’s Consent
This is a legal document authorising the transfer of land from one person to another. In the case of the Federal Capital Territory (FCT), it is called Minister’s consent.
Relevant documents | Land Use Act |
Relevant institutions | FCDA |
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.
Below is the procedure for acquiring land in Abuja.
a. Photocopy of the receipt (from Step 3 above)
b. Two passport-sized photographs
b. Means of identification (national ID card, drivers’ license, passport)
d. Tax Clearance Certificate
Steps B – D above apply for land being acquired for residential purposes.
(For land being acquired for real estate development or commercial purposes),
e. Schematic design of the proposed building
f. Environmental Impact Assessment (EIA),
g. Evidence of Financial & Technical Capacity
h. Company registration certificates – CAC Form, Corporate Tax Clearance Certificates.
Due to the delays in acquiring government land, most people and institutions often purchase land from individual owners. However, the FCTA advises against this especially for foreign investors. NIPC can support investors with obtaining concessions and/or fast-tracking the acquisition of government land. Investors should however note that the FCTA does not sell land. The organisation only allocates and collects the processing fees, Certificate of Occupancy fees and annual ground rent.
The Abuja Master Plan has designated different areas for Residential, Commercial, Religious, Recreational, Industrial, Educational, Health, Institutional and Agricultural purposes and the FCTA monitors all land allocation to ensure adherence to the plan.Relevant Link: FCT LandAdministration Processes
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 |
A building plan approval is necessary before construction can commence. Each state has a ministry, department or agency responsible for issuing these permits.
In Abuja, building permits are processed by the FCTA’s Department of Development Control (DODC) which provides the following guidelines to aid the process:
- Evidence of rights over the land (Right of occupancy, Certificate of occupancy, Title Deed Plan and fulfillment of financial obligations).
- A site plan and detailed site analysis report certificate by a registered town planner.
- Environmental Impact Analysis (EIA) Report for commercial, industrial, public building, recreational, large scale residential development, change of use of plot or on existing buildings and any other land use as may be deemed necessary, prepared and authenticated by a registered town planner.
- All application in respect of Special Development such as Petrol Filling Station, Water Supply, drilling/Outlets, private health and educational facilities, child welfare related developments etc. shall be accompanied by letters/license of the relevant regulatory body
Free Trade Zones (FTZ) are designed to attract foreign direct investment, increase foreign exchange earnings, promote technology transfer and develop export-oriented industry in Nigeria.The Nigerian Export Processing Zone Authority (NEPZA) was established by the Nigeria Free Trade Zone Act 1992 to grant all approvals for operators within the FTZ to the exclusion of other government bodies and agencies.
There are 33 FTZs with 15 operational and 18 under construction. Some of the operational FTZs are: Calabar Free Zone, Kano Free Zone, Lekki Free Zone, Tinapa Free Zone and Tourism Resort, Onne Oil and Gas Export Free Zone, Olokola Free Zone.
Foreign investors can set up businesses directly in FTZs without incorporating a company in the customs territory. Registered companies may also register separately and operate in an FTZ. Such registered FTZ entity would have a suffix FZE at the end of its name.
Relevant documents | NEPZA 2004 Regulations |
Relevant institutions | NEPZA OGFZA |
An FTZ entity enjoys several incentives:
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.
All businesses which operate in and derive income from Nigeria are liable to pay tax. The Nigerian tax system operates a self-assessment regime which allows taxpayers to assess, pay and file tax returns as prescribed in the extant tax laws.
Taxation in Nigeria is based on the three tiers of government as follows:
Relevant documents | Nigeria Tax Policy FIRS Tax Law Compendium Finance Act 2020 |
Relevant institutions | FIRS |
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:
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.
Relevant documents | National Tax Policy Approved List of Taxes and Levies |
Relevant institutions | FIRS |
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:
Minimum Tax under CITA arises where:
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.
Relevant documents | Companies Income Tax Act Amendment to 5th Schedule of CITA Finance Act 2019 Finance Act 2020 |
Relevant institutions | FIRS |
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:
Relevant documents | Stamp Duty Act Finance Act 2019 Finance Act 2020 |
Relevant institutions | FIRS |
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
Relevant documents | Personal Income Tax Act Personal Income Tax Act (amended) Finance Act 2019 Finance Act 2020 |
Relevant institutions | FIRS |
Petroleum Profit Tax is levied on the income of companies engaged in upstream petroleum operations in lieu of CIT. The rates vary as follows:
Relevant documents | Petroleum Profit Tax Act |
Relevant institutions | FIRS |
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.
Relevant documents | TETFund Act |
Relevant institutions | FIRS |
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:
Relevant documents | Value Added Tax Finance Act 2019 Finance Act 2020 |
Relevant institutions | FIRS |
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.
Relevant documents | Capital Gains Act |
Relevant institutions | FIRS |
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.
Relevant documents | Finance Act 2019 Finance Act 2020 |
Relevant institutions | FIRS |
Companies liable to pay the Levy are:
Relevant documents | National Information Technology Development Agency Act, CAP N156 LFN 2004 |
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.
Relevant institutions | FIRS |
A Tax Clearance Certificate (TCC) is a document that certifies that a company or individual has settled the income taxes due for the three preceding years of assessment. A TCC is a prerequisite for official transactions conducted by a company in the public sector, such as when tendering for government contracts, when remitting foreign exchange through the banks, etc.
Company TCCs are issued by the FIRS; while individual TCCs are issued by the relevant State Board Internal Revenue (SBIR). FIRS and Lagos SBIR issues TCC online (See link below).
Companies need to apply to the relevant FIRS tax office to obtain a TCC.
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.
Nigeria has developed a comprehensive and investor-friendly legal framework to attract, protect, and regulate both foreign and domestic investments. This framework is anchored on several statutes and regulatory instruments that collectively ensure transparency, legal certainty, and protection for investors across sectors.
The NIPC Act established the Nigerian Investment Promotion Commission (NIPC) as the apex agency for coordinating and promoting investments in Nigeria. The Act liberalizes the investment landscape and provides broad protections for foreign and local investors.
No Ownership Restrictions: Foreign investors may own up to 100% equity in any Nigerian enterprise except those on the negative list (e.g., arms production).
Free Entry and Exit: Investors may freely invest and repatriate capital, profits, and dividends without restrictions, subject to payment of applicable taxes.
Modes of Foreign Equity Contribution: Contributions can be made in cash, machinery, spare parts, raw materials, and other business assets without prior foreign exchange disbursement.
Repatriation Rights: Guarantees the unrestricted transfer of:
Dividends or profits (net of taxes)
Payments in respect of loan servicing
Remittances of salaries to expatriate staff
Proceeds from liquidation or sale of the enterprise
Foreign Loans: Nigerian companies can procure and repay foreign loans (principal and interest) without prior ministerial approval, provided such loans are registered with the Central Bank of Nigeria (CBN).
Relevant documents | Nigerian Investment Promotion Commission Act |
Relevant institutions | NIPC |
The Investment and Securities Act 2007 (ISA) governs Nigeria’s capital markets, ensuring orderly, transparent, and fair operations. It is administered by the Securities and Exchange Commission (SEC), which regulates public offerings, private placements, mergers, acquisitions, and takeovers.
Regulation of Securities Market: Covers issuance and trading of securities, collective investment schemes, capital market intermediaries, and securities exchanges.
Electronic Transactions: Legalizes electronic share transfers and record-keeping to support fintech and digital capital market innovations.
Investor Protection Mechanisms:
Establishment of Investor Protection Funds (IPFs) by exchanges and capital trade points to compensate victims of broker fraud or misconduct.
Creation of a National Investor Compensation Scheme for losses not covered by the IPFs.
Investment and Securities Tribunal (IST):
A quasi-judicial body that adjudicates capital market disputes, offering a faster alternative to conventional courts.
Appeals from the IST lie directly to the Court of Appeal.
Relevant documents | Investments and Securities Act |
Relevant institutions | SEC |
This Act governs investors' access to the official foreign exchange market.
Legal basis for the Autonomous Foreign Exchange Market (AFEM)
Guarantees foreign exchange availability for remittances of:
Dividends
Capital repatriation
Loan servicing
Royalties and technical fees
CAMA governs business registration, corporate governance, insolvency, and restructuring.
Online company registration
Introduction of Limited Liability Partnerships (LLPs)
Single-shareholder private companies
Enhanced protections for minority shareholders
Provisions supporting business continuity and mergers
BOFIA provides the regulatory framework for banking and financial institutions in Nigeria, under the supervision of the Central Bank of Nigeria (CBN).
Investor-Relevant Features:
Facilitates safe entry and operation of foreign financial institutions
Enhances banking stability, risk management, and corporate governance
Allows the CBN to issue licensing, supervise fintech operations, and regulate cross-border financial transactions
Protects depositors and investors in financial services through resolution frameworks
This law governs the mining and solid minerals sector and is administered by the Ministry of Solid Minerals Development.
Incentives and Legal Guarantees:
100% foreign ownership of mining assets permitted
3–5 year tax holiday
Exemption from customs and import duties on approved equipment
Free transferability of funds and capital
Land rights: licensees granted exclusive rights to explore and mine within concession areas
Environment: mandatory Environmental Impact Assessments (EIAs) and Community Development Agreements (CDAs)
The Electricity Act consolidates and modernizes power sector laws in Nigeria, replacing the Electric Power Sector Reform Act (EPSRA) of 2005.
Opportunities for Investors:
Enables state governments to legislate and regulate electricity within their territories
Promotes off-grid and renewable energy development
Encourages private sector participation across the electricity value chain—generation, transmission, distribution, and supply
Provides legal backing for:
Cost-reflective tariffs
Bilateral contracts
Embedded and mini-grid systems
The PIA overhauled Nigeria’s oil and gas regulatory landscape, improving transparency, governance, and investment conditions in the petroleum sector.
Establishment of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)
Conversion of existing oil licenses to new Petroleum Prospecting Licences (PPL) and Petroleum Mining Leases (PML)
Dual fiscal regime for oil (production sharing and royalties)
Introduction of hydrocarbon tax {in addition to Companies Income Tax (CIT)}
Guarantee of cost recovery and competitive returns
Promotion of host community development via the Host Community Development Trust Fund
Transparency and accountability through mandatory disclosures and audits
Nigeria’s tax regime, administered primarily by the Federal Inland Revenue Service (FIRS), provides clarity, certainty, and several incentives aimed at encouraging investment.
Companies Income Tax Act (CITA), Cap C21 LFN 2004 (as amended):
Imposes corporate income tax at 30% for large companies, 20% for medium enterprises, and 0% for small businesses
Tax incentives under the Pioneer Status Incentive (PSI) for qualifying industries (tax holidays up to 5 years)
Value Added Tax Act (VATA), Cap V1 LFN 2004 (as amended):
VAT is levied at 7.5% on eligible goods and services
Exemptions apply to basic food items, medical and pharmaceutical products, and agricultural inputs
Capital Gains Tax Act, Cap C1 LFN 2004:
10% tax on disposal of chargeable assets (real estate, shares, etc.)
Stamp Duties Act, Cap S8 LFN 2004:
Applicable to instruments like loan agreements, share transfers, and leases
Personal Income Tax Act (PITA), Cap P8 LFN 2004 (as amended):
Applies to individuals, partnerships, and unincorporated businesses
Tertiary Education Trust Fund Tax and National Information Technology Development Fund Levy (NITDA Levy):
Apply to companies in designated sectors (e.g., banking, insurance, telecommunications)
This Act mandates pre-investment inspection of capital expenditure projects above a stipulated threshold. It ensures:
Accurate valuation of investment inflows
Prevention of capital flight through inflated asset declarations
Investors in free zones enjoy fiscal and non-fiscal incentives, including:
100% foreign ownership
Full repatriation of capital and profits
Tax holidays (up to 100% exemption on all taxes, levies, and rates)
Duty-free import/export of goods within the zone
Streamlined administrative processes via NEPZA or OGFZA
Applicable to oil and gas investments, the NCDMB law mandates:
Use of Nigerian labour, materials, and goods
Capacity development and technology transfer
Partnerships with indigenous firms
Aligned with the UNCITRAL Model Law, this new law governs commercial arbitration and mediation in Nigeria.
Recognises international and domestic arbitration
Promotes the enforceability of foreign arbitral awards under the New York Convention
Encourages alternative dispute resolution for investors through institutional and ad hoc arbitration
The Nigerian Investment Promotion Commission Act, Chapter N117, Laws of the Federation of Nigeria 2004 (NIPC Act) prohibits the nationalisation or expropriation of businesses or assets, except in cases where the acquisition is deemed to be in the national interest or for a public purpose. In such instances, investors are entitled to fair compensation and the right to legal redress.
Specifically, Section 25 of the Act outlines the following provisions:
Such an acquisition must be conducted under a law that provides for:
Relevant documents | Nigerian Investment Promotion Act 1995 |
Relevant institutions | NIPC |
Section 26 of the Nigerian Investment Promotion Commission Act, Chapter N117, Laws of the Federation of Nigeria 2004 (NIPC Act) emphasises the amicable settlement of disputes between investors and the Government of Nigeria. Where such amicable resolution fails, arbitration is recognised as the primary alternative dispute resolution (ADR) mechanism.
The Arbitration and Conciliation Act (ACA), Cap A18, Laws of the Federation of Nigeria (LFN) 2004 provides a comprehensive legal structure for resolving commercial disputes through arbitration and conciliation. Key provisions of the Act include:
Establishment of a neutral and impartial arbitration process.
Equal treatment of all parties and full opportunity for each party to present its case.
Grounds and procedures for challenging arbitrators.
Recognition and enforcement of arbitral awards, including those made in Nigeria under international commercial arbitration agreements.
Incorporation of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958), commonly known as the New York Convention, ensures that foreign arbitral awards are enforceable in Nigeria.
The Act thus aligns Nigeria’s arbitration regime with international best practices, enhancing investor confidence in the country's legal system.
While arbitration remains the preferred option for resolving investor–state and commercial disputes, litigation in Nigerian courts remains a viable alternative. Nigerian civil courts are competent to adjudicate disputes involving:
Foreign investors and the government.
Disagreements between foreign investors and Nigerian companies or individuals.
Foreign judgments and arbitral awards can be enforced in Nigeria upon judicial confirmation, provided they meet the conditions of reciprocity, fairness, and due process under Nigerian law.
Where a dispute arises and the parties cannot agree on a resolution mechanism, Section 26(3) of the NIPC Act mandates that the dispute be referred to arbitration under the International Centre for Settlement of Investment Disputes (ICSID) framework, to which Nigeria is a contracting party. This provides an additional layer of protection for foreign investors.
Nigeria is also a participant in the United Nations Commission on International Trade Law (UNCITRAL) framework, further aligning its dispute resolution processes with global standards.
Relevant documents | Arbitration and Conciliation Act 2004 Convention on the Recognition and Enforcement of Foreign Arbitral Awards |
Nigeria maintains a comprehensive framework of international agreements designed to promote and protect foreign investments, facilitate cross-border trade, and prevent the double taxation of income. These instruments include Bilateral Investment Treaties (BITs), Investment Promotion and Protection Agreements (IPPAs), and Double Taxation Treaties (DTTs). Nigeria also actively participates in regional, continental, and multilateral frameworks, such as the ECOWAS Trade Liberalisation Scheme (ETLS), the African Continental Free Trade Area (AfCFTA) Investment Protocol, the European Union’s Generalised Scheme of Preferences (EU GSP), and commitments under the International Labour Organization (ILO) and the World Trade Organization (WTO).
Nigeria has signed 31 Bilateral Investment Treaties (BITs), with 15 currently in force. These treaties provide essential legal assurances to foreign investors, including protection against expropriation, fair and equitable treatment, non-discrimination, and access to international arbitration mechanisms.
Nigeria has also concluded several Investment Promotion and Protection Agreements (IPPAs) that further reinforce investor confidence by ensuring reciprocal protections and equitable treatment.
Countries with Enforceable BITs/IPPAs include:
China, Finland, France, Germany, Italy, Republic of Korea, Netherlands, Romania, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan Province of China, and the United Kingdom.
To reduce tax burdens and stimulate cross-border investments, Nigeria has signed Double Taxation Treaties with the following countries/partners:
Belgium, Canada, China, Czech Republic, France, Italy (limited to air and maritime transport), Netherlands, Pakistan, Philippines, Romania, Singapore, South Africa, South Korea, and the United Kingdom.
These agreements allocate taxing rights between treaty partners, helping avoid the double taxation of income and providing greater certainty and transparency for international investors and businesses.
Nigeria is a long-standing participant in the ECOWAS Trade Liberalisation Scheme (ETLS), the flagship regional initiative of the Economic Community of West African States (ECOWAS) aimed at eliminating tariffs and quotas on goods originating within member countries. The scheme supports free movement of goods, bolsters regional trade, and enhances economic integration.
Note: As of 2025, three member states; Burkina Faso, Mali, and Niger have exited ECOWAS. Despite these developments, Nigeria remains a committed participant, leveraging the ETLS to access broader regional markets and strengthen economic ties within West Africa.
Nigeria is a member of the African Continental Free Trade Area (AfCFTA), the world’s largest free trade area by number of participating countries. The AfCFTA Investment Protocol, adopted in 2023, establishes a harmonised investment regime across African countries.
Key provisions include:
Protection of investor rights and obligations
Promotion of sustainable and inclusive investment
Dispute resolution mechanisms (including investor-state and state-to-state arbitration)
Emphasis on Environmental, Social, and Governance (ESG) principles
The protocol aims to foster predictable, transparent, and responsible investment across the continent.
Nigeria is a beneficiary of the EU’s Generalised Scheme of Preferences, which allows for preferential access to the European Union market by reducing or eliminating tariffs on eligible exports. This arrangement enhances Nigeria’s export competitiveness and helps stimulate growth in targeted sectors such as agriculture, textiles, and light manufacturing.
As a member of the International Labour Organisation (ILO), Nigeria is committed to upholding international labour standards and promoting decent work through fair labour practices, protection of workers' rights, and employment creation.
Nigeria is a member of the World Trade Organisation (WTO). Through its WTO membership, Nigeria subscribes to global trade rules that promote non-discrimination, transparency, and predictability in trade and investment. The country participates in WTO negotiations and trade policy reviews, which help shape global commerce and support national economic development.
The Nigerian Investment Promotion Commission Act, Chapter N117, Laws of the Federation of Nigeria 2004 (NIPC Act), guarantees foreign investors the unrestricted transferability of proceeds from their investment in Nigeria, as well as capital repatriation in the event of liquidation. This legislation fosters a favourable investment climate by ensuring that investors can easily move funds across borders, contributing to a robust foreign investment environment.
Investments, whether in the form of share capital contributions or loans (including machinery), can be made in foreign currency. These transactions must comply with the provisions of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Chapter F34 LFN 2024, which regulates foreign exchange transactions in Nigeria. FEMPA mandates the registration of capital inflows, ensuring the protection and regulation of foreign exchange movements. Additionally, the Central Bank of Nigeria (CBN) requires that such transactions be reported through authorised channels and must be registered within 24 hours. A Certificate of Capital Importation (CCI) is issued to the investor to facilitate the repatriation of funds, in line with FEMPA and the CBN's Foreign Exchange (FX) Management Manual.
Once an investor obtains the CCI, the following can be repatriated without restriction:
Dividends, Rent, Royalties, and Profits (net of taxes) attributable to the investment.
There are no restrictions on the amount of profits that can be distributed as dividends, provided that the distribution is made from profits, not from capital. Furthermore, such distributions should not result in the company’s insolvency, and there must be no reasonable grounds to believe that the company would be insolvent after the payment is made.
Relevant documents | Nigerian Investment Promotion Commission Act |
Relevant institutions | NIPC CBN |
Nigeria’s intellectual property (IP) regulatory environment combines national laws with international obligations to support innovation and protect rights holders. Key domestic statutes include the Patents and Designs Act, Trademarks Act, and Copyright Act, administered by relevant government agencies. Nigeria is also a party to global agreements such as the WTO’s TRIPS Agreement, the Berne and Paris Conventions, and is a member of ARIPO. These commitments reflect the country’s efforts to align with global IP standards and promote a more investment-friendly environment.
The Nigerian legal system is committed to protecting intellectual property (IP) through various laws, including the Trade Marks Act, the Patents and Designs Act, the Copyright Act, and the Plant Variety Protection Act. These laws establish a comprehensive framework for safeguarding the rights of creators and innovators, promoting fair trade, and fostering an environment conducive to economic growth.
Trademarks serve as distinctive identifiers for goods or services, enabling consumers to distinguish between products from different businesses. Trademarks are registrable with the Trade Marks Registry in Abuja, and registration grants exclusive rights to the trademark holder for an initial period of seven (7) years, which can be renewed. Remedies for trademark infringement typically include injunctions, award of damages, and the destruction or delivery of infringing goods.
Patents protect inventions that are novel, industrially applicable, or represent an improvement on an existing patent. To be protected, a patent must be registered. A patent lasts for twenty (20) years from the date of registration, after which it expires. Designs, which cover the aesthetic aspects of products, are initially protected for five (5) years and can be renewed for two consecutive five-year periods.
Plant Variety Protection is another significant aspect of intellectual property in Nigeria. The Plant Variety Protection Act provides a legal framework for the protection of new plant varieties. This law is aimed at encouraging the development of new plant varieties, which contribute to agricultural innovation and food security. The Act grants breeders exclusive rights to their new plant varieties, which can be protected for up to twenty (20) years, allowing them to control the sale and reproduction of the protected varieties.
For more information, please contact the Nigerian Industrial Property Office.
Copyright protection arises automatically for original creative works, such as literary, musical, and artistic creations, as well as cinematographic films, sound recordings, and broadcasts, the moment they are created. The duration of copyright protection varies; it lasts for fifty (50) years for broadcasts, sound recordings, and cinematography, and seventy (70) years for literary, musical, and artistic works. This system encourages innovation and creativity by granting creators exclusive rights to their works, thereby promoting fair competition in the market.
For more information on copyright and its enforcement, please contact the Nigerian Copyright Commission.
Relevant documents | Trade Marks Act Copyright Act Patients and Design Act Plant Variety Protection Act |
Relevant institutions | Nigerian Copyright Commission (NCC) NOTAP NIPO |
Nigeria is an active member of the World Intellectual Property Organisation (WIPO) and a signatory to a range of significant international intellectual property (IP) treaties. These agreements are crucial in ensuring the protection of IP rights on a global scale and fostering international collaboration in the enforcement of IP laws. Some of the key treaties Nigeria is party to include:
The Universal Copyright Convention (UCC): This treaty provides a basic framework for the protection of copyright across nations, ensuring that the rights of authors are respected internationally.
The Berne Convention for the Protection of Literary and Artistic Works: As a signatory, Nigeria recognizes the right of authors to have their literary and artistic works protected in other member countries without needing to go through a formal registration process.
The Paris Convention for the Protection of Industrial Property (Lisbon Text): This treaty ensures the protection of industrial property rights, including patents, trademarks, and industrial designs, across its member states, simplifying the process of securing protection in multiple countries.
African Regional Intellectual Property Organisation (ARIPO): A regional body that promotes cooperation among African states in the administration and harmonisation of IP rights.
These international agreements significantly enhance Nigeria's capacity to protect intellectual property and facilitate cross-border trade and innovation.
Relevant documents | WIPO Convention |
The Paris Convention for the Protection of Industrial Property (1883) establishes industrial property protection rules regarding patents, marks, industrial designs, trade names, geographical indications and the repression of unfair competition. Its provisions include regulations regarding the national treatment, the right of priority and a number of common rules.
Relevant documents | WIPO Paris Convention |
Relevant documents | WIPO Berne Convention |
Lisbon Agreement for the Protection of Appellations of Origin and their International Registration (1958)
Relevant documents | WIPO Lisbon Agreement |
Established under the World Trade Organization, the TRIPS Agreement plays a critical role in facilitating trade in knowledge and creativity, in resolving trade disputes over intellectual property, and in assuring WTO members the latitude to achieve their domestic objectives. The Agreement is legal recognition of the significance of links between intellectual property and trade.
The enactment of the Federal Competition and Consumer Protection Act (FCCPA) represents a significant milestone in Nigeria’s economic reform agenda. Signed into law in 2019, the Act established the Federal Competition and Consumer Protection Commission (FCCPC) and the Competition and Consumer Protection Tribunal, laying the foundation for a robust legal and institutional framework to promote fair, transparent, and competitive markets across all sectors of the Nigerian economy.
This landmark legislation aims to eliminate monopolistic practices, foster innovation, and ensure that Nigerian consumers have access to safe products and quality services. It also provides a comprehensive regime for consumer rights protection, with clear provisions for redress and enforcement.
By establishing a nationally coordinated administrative structure, the FCCPA harmonises overlapping mandates, streamlines regulatory oversight, and strengthens cooperation among relevant agencies. Importantly, it introduces a strict liability offence for unfair trade practices—ensuring that businesses are held accountable for deceptive, exploitative, or anti-competitive conduct.
The FCCPA aligns Nigeria with global best practices in competition law and consumer protection, positioning the country to better attract investment, stimulate inclusive economic growth, and protect the rights and welfare of its citizens in an increasingly complex marketplace.
Relevant documents | Competition and Consumer Protection Act |
In today's competitive global economy, Nigeria stands at a pivotal juncture, poised to transform its business landscape and unlock unprecedented opportunities for growth. The Presidential Enabling Business Environment Council (PEBEC) was established and enabled as the federal government agent to facilitate a coordinated approach to streamlining business processes and reviewing enabling legislation.
Established in July 2016, PEBEC is a high-level council chaired by Vice President Kashim Shettima, comprising key ministers, the Head of the Civil Service, the Governor of the Central Bank, and representatives from the National Assembly, Judiciary, and private sector. Our mission is clear: to remove bureaucratic constraints and make Nigeria a progressively easier place to start and grow a business.
Through over 180 targeted reforms, Nigeria's business environment has been significantly improved. Notably, these initiatives have led to Nigeria's recognition among the top 10 most improved economies globally. In 2024, the 90-day Regulatory Reform Accelerator Action Plan was initiated to focus on eight key indicators, including transparency, port operations, agro-export reforms, and service level agreements, resulting in measurable institutionalisation of reforms across 38 priority MDAs.
Subnational Engagement Recognising the importance of state-level reforms, PEBEC initiated the Subnational Ease of Doing Business project in July 2017. This initiative aims to cascade ease of doing business reforms to all 36 states and the Federal Capital Territory (FCT), promoting competitiveness and improving the business climate across Nigeria. Enabling Business Environment Secretariat (EBES) The EBES serves as the operational arm of PEBEC, coordinating the implementation of reform initiatives and liaising with MDAs to ensure compliance and effectiveness. It also monitors progress and provides support to MDAs in achieving reform objectives. For more information and access to PEBEC's reports and updates, please visit www.pebec.gov.ng.
Relevant documents | The Executive Order |
Relevant institutions | PEBEC |
Nigeria operates a pluralistic legal system that draws from English Common Law, Nigerian Customary Law, and Islamic (Sharia) Law. This diverse legal framework underpins the country’s governance and provides investors with structured legal recourse across a range of economic and commercial matters.
For business and investment transactions, the Common Law system, as modified by Nigerian statutes and judicial interpretations, provides the principal legal foundation. It governs areas critical to investment such as contract enforcement, corporate governance, property rights, and commercial dispute resolution.
Nigeria’s judiciary, as established under the 1999 Constitution (as amended), is structured into superior and inferior courts. For investors, the superior courts are of primary importance due to their authority over investment-related disputes, regulatory interpretation, and enforcement of commercial rights.
Acts as the intermediate appellate court for decisions from:
This court is especially relevant to foreign and domestic investors as it has exclusive jurisdiction over key areas including:
Relevant institutions | FMoJ |
Nigeria continues to undertake substantial legal and institutional reforms aimed at:
Key developments include:
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.
According to World Bank data, Nigeria remains the largest economy in Sub-Saharan Africa, with a Gross Domestic Product (GDP) estimated at US$477 billion in 2022. The structure of the Nigerian economy has undergone a notable transformation, most recently highlighted by the 2025 GDP rebasing, which updated the base year from 2010 to 2020. This statistical update provided a more accurate and contemporary picture of Nigeria’s economic activity, capturing the rapid growth in previously underrepresented sectors such as technology-driven services, digital finance, e-commerce, and the creative industries.
It has affirmed an economy that continues its diversification away from traditional oil dependency with the services sector—including telecommunications, banking, entertainment, and real estate—now serving as the primary driver of GDP, contributing over 55% to total output. The expansion of fintech, mobile banking, digital platforms, and e-commerce ecosystems has not only increased revenue generation but also driven innovation, entrepreneurship, and employment across urban and semi-urban areas.
After contracting by 1.51% in 2016 due to a collapse in global oil prices and domestic production disruptions, the economy rebounded in 2017 with three consecutive quarters of growth. GDP rose by 1.4% in Q3 2017, exceeding the World Bank’s forecast of 1.2%, and the year ended with a growth rate of 0.86%. However, Nigeria slipped into a momentary recession in Q3 2020, triggered by the dual impact of the COVID-19 pandemic and a sharp drop in oil prices. GDP contracted by 6.1% in Q2 2020 and 3.6% in Q3, but again, another quick recovery followed, with the country exiting the recession in Q4 2020 through modest 0.11% growth. By 2021, the economy had rebounded with a 3.6% growth rate, led by the revitalisation of services and sustained public sector investments in infrastructure and health systems.
Nigeria’s financial services sector continues to grow in scope and sophistication, emerging as a critical pillar of regional and continental integration. With a dynamic banking landscape, a thriving fintech ecosystem, and sustained regulatory reforms by the Central Bank of Nigeria (CBN), Nigeria is positioning itself as a continental financial hub. Lagos, the country’s economic nerve centre, has become a launchpad for pan-African digital finance platforms and hosts the regional headquarters of multiple global and African financial institutions. These developments complement Nigeria’s strategic role in Africa-wide initiatives, including the African Continental Free Trade Area (AfCFTA) and the Pan-African Payment and Settlement System (PAPSS), aimed at enabling seamless trade and payments across African borders.
To attract and retain both domestic and foreign investment, Nigeria has developed a comprehensive suite of fiscal and investment incentives. These include:
The Naira (₦) remains the official currency for all domestic transactions. Foreign exchange operations are governed by the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act of 1995, alongside ongoing guidelines issued by the CBN. While cross-border financial flows are permitted, the regulatory environment enforces prudential measures aimed at protecting the stability of the Naira, maintaining healthy external reserves, and ensuring alignment with global best practices on anti-money laundering (AML) and counter-terrorism financing (CTF).
Nigeria is a member of the World Trade Organization (WTO) and continues to affirm its commitment to multilateral trade norms by ratifying the WTO Trade Facilitation Agreement (TFA). This milestone underscores Nigeria’s strategic intent to streamline its trade processes and strengthen its role as a gateway economy for West Africa and the driver of the continental economic growth.
The TFA outlines a comprehensive set of reforms aimed at expediting the movement, release, and clearance of goods across borders, while also enhancing transparency, cooperation, and predictability in customs operations. By aligning with global best practices, Nigeria aims to reduce trade costs, improve border efficiency, and boost competitiveness for local businesses—especially for small and medium enterprises (SMEs) seeking regional and global market access.
The implementation of the TFA also aligns with Nigeria’s broader economic diversification agenda and supports the objectives of the African Continental Free Trade Area (AfCFTA) by promoting seamless intra-African trade and investment flows.
Relevant institutions | FMITI |
As Africa’s largest economy, Nigeria plays a pivotal role in regional, continental, and global market development. Nigeria’s active participation in several key organisations underscores its commitment to promoting trade integration, economic cooperation, and sustainable development. The following organisations and agreements are integral to shaping Nigeria’s market development strategy, offering significant opportunities for investors.
Nigeria is a member of the African Union (AU), an organisation that aims to promote economic integration, unity, and political cooperation across Africa. The African Continental Free Trade Area (AfCFTA), a key initiative of the AU, aims to establish a single continental market for goods and services, facilitate industrialisation, and reduce trade barriers between African countries. By harmonising customs procedures, eliminating tariffs on many products, and creating a more predictable business environment, AfCFTA promotes intra-Africa trade and offers private investors access to a market of over 1.3 billion people with a combined GDP of over US$3 trillion.
Benefits to Private Investors:
Nigeria is a member of the Economic Community of West African States (ECOWAS), which was established to promote trade liberalization, economic integration, and regional market development in West Africa. ECOWAS aims to create a single regional market through initiatives such as the Trade Liberalisation Scheme (TLS) and the Common External Tariff (CET), designed to eliminate trade barriers and foster intra-regional trade.
Benefits to Private Investors:
Nigeria was recently admitted as a member of the BRICS grouping, which includes Brazil, Russia, India, China, and South Africa. The organisation focuses on promoting market development in emerging economies. Nigeria’s involvement in BRICS initiatives is aimed at enhancing trade opportunities, investment flows, and economic collaboration, benefiting from the market access and cooperation offered by the group.
Benefits to Private Investors:
Nigeria is a member of the Organisation of Islamic Cooperation (OIC), which fosters economic collaboration among Muslim-majority countries, including market development in trade and commerce. The OIC promotes economic integration and the development of trade relationships between member countries, creating more robust and diversified markets within the Islamic world.
Benefits to Private Investors:
Nigeria benefits from the African Growth and Opportunity Act (AGOA), a preferential trade agreement between the United States and eligible sub-Saharan African countries. AGOA provides Nigerian businesses with duty-free access to the U.S. market for over 6,000 products, including agricultural goods, textiles, and handicrafts. This agreement encourages trade expansion and enhances Nigeria's position in the U.S. market, contributing to the diversification of Nigeria’s export base.
Benefits to Private Investors:
Nigeria also enjoys preferential access to the European Union (EU) market under the Economic Partnership Agreement (EPA), which grants Nigerian exports reduced tariffs or duty-free access to EU markets. This access benefits sectors such as agriculture, manufacturing, and natural resources, further enhancing Nigeria’s trade relationships with the EU and driving market development within the country.
Benefits to Private Investors:
Nigeria possesses some of the most abundant natural resources for agricultural production in the world. With over 80 million hectares of arable land, only about 40% is currently under cultivation, presenting vast untapped opportunities for agribusiness and commercial farming. The country also boasts an estimated 230 billion cubic meters of renewable water resources, coupled with abundant and dependable rainfall across more than two-thirds of its landmass, creating favourable agro-climatic conditions for year-round farming.
Nigeria is a global agricultural powerhouse in several key commodities. It is the world’s largest producer of cassava, yams, and cowpeas (beans), the fourth-largest producer of groundnuts and cocoa, and the leading producer of tomatoes in Africa. In addition, the country grows a wide range of other crops, including maize, millet, sorghum, rice, palm oil, sesame seeds, and horticultural products. These outputs support both domestic consumption and growing export potential.
Nigeria’s agricultural sector remains a cornerstone of the economy, contributing significantly to GDP, employment (engaging over 60% of the labour force), and food security. With increasing investment in mechanisation, agro-processing, irrigation infrastructure, and digital farming solutions, the sector is poised to drive inclusive growth, reduce rural poverty, and enhance the country’s position in regional and global agri-food markets.
Relevant documents | Agriculture Promotion Policy (2016 – 2020) |
Relevant institutions | FMAFS NIRSAL NIPC |
Agriculture remains the largest and most resilient sector in Nigeria’s economy, contributing approximately 22% to the national GDP and providing livelihoods for nearly 90% of the rural population. As the largest employer in the country, agriculture is central to inclusive economic development, rural transformation, and food security.
Even during Nigeria’s recent economic downturns, the agricultural sector demonstrated strong resilience. It maintained positive growth momentum despite recessionary pressures and the oil price shock, ultimately playing a critical role in lifting the country out of recession. With minimal exposure to global oil price volatility and exchange rate constraints, agriculture continues to serve as a stable foundation for economic diversification and long-term growth.
Vast Arable Land and Crop Diversity: Nigeria has over 80 million hectares of arable land spread across its 36 states, yet only 40% is currently cultivated. Each region offers comparative agricultural advantages, presenting unique opportunities for commercial farming, commodity processing, and export-oriented agribusinesses.
Significant Import Substitution Opportunity: Nigeria’s food import bill exceeds US$50 billion annually, with an estimated US$7.76 billion in immediate import substitution potential, equivalent to around 15% of total imports. This creates lucrative entry points for domestic production and local value chains.
Strategic Agricultural Policy Support: The Agricultural Promotion Policy (APP), also known as the “Green Alternative,” emphasizes the development of agribusiness by improving access to land, finance, markets, and technology. The policy encourages private sector participation and focuses on improving productivity, food sufficiency, and export competitiveness.
Agro-Processing Potential: There is strong demand and processing potential for a range of crops, including tomatoes, cassava, cocoa, maize, rice, vegetables, and fruits. Investment in agro-processing offers value-addition, job creation, and enhanced shelf-life for both domestic and export markets.
Forestry and Green Economy Opportunities: Over 10 million hectares of land are suitable for commercial forestry and plantation agriculture, offering scalable opportunities for timber, wood products, and carbon offset initiatives.
Youthful and Dynamic Workforce: Nigeria boasts one of the youngest populations globally, with a growing number of tech-savvy, entrepreneurial youth engaging in modern farming, agri-tech, and supply chain innovation.
Geostrategic Trade Location: Situated in the Gulf of Guinea, Nigeria provides direct maritime access to North and South America and Europe, markets with a combined GDP of over $43 trillion. Its central location within West Africa also makes it a vital trade gateway, with extensive road and rail linkages to neighbouring ECOWAS countries.
Access to Continental and Global Markets: Nigeria’s membership in trade-enhancing frameworks such as the African Continental Free Trade Area (AfCFTA), AGOA (U.S. Africa Growth and Opportunity Act), and preferential access to the EU market provides agricultural exporters with competitive access to over 1.5 billion consumers globally.
To stimulate agribusiness and boost food security, the Nigerian government offers a wide range of fiscal and financial incentives to both local and foreign investors in the agriculture and agro-allied sectors. These incentives aim to lower entry barriers, reduce operational costs, and de-risk investment across the value chain.
Nigerian Incentive-based Risk System for Agricultural Lending
Nigeria is richly endowed with a vast array of solid mineral resources spread across all 36 states and the Federal Capital Territory. These include precious metals, base metals, industrial minerals, and energy minerals that hold immense economic potential for diversification, industrialization, and job creation.
Over 40 commercially viable solid minerals have been identified, such as:
Despite this wealth, the sector remains largely underexplored and underdeveloped. To reposition mining as a key driver of economic growth, the Ministry of Mines and Steel Development (MMSD) has prioritized the development of seven strategic minerals due to their proven reserves and high economic potential:
These minerals have been identified not only for their export and industrial uses, but also for their potential to power value-adding industries such as cement manufacturing, steel production, construction, and energy generation.
Relevant documents | Nigerian Minerals and Mining Act 2007 Minerals Mines Regulations 2011 |
Relevant institutions | FMMSD NGSA NIPC |
Nigeria’s mining sector is emerging as one of the most promising frontiers for investment in Africa. Driven by government policy, geological potential, and market demand, the following factors make Nigeria an increasingly attractive destination for mining and mineral-based investments:
To stimulate private sector investment and position mining as a catalyst for economic diversification, the Nigerian government has put in place a robust package of fiscal, regulatory, and institutional incentives for local and foreign investors:
Pioneer Status Incentive (PSI)
Enterprises in the industry benefit from a corporate income tax exemption for an initial period of 3 years, extendable for an additional 2 years.
100% Ownership and Repatriation of Profits
Full foreign ownership is permitted, with unrestricted transfer of capital, dividends, and profits, net of taxes, through authorized dealers.
Zero Import Duty on Equipment and Machinery
Exemption from customs duties for imported plant, machinery, and mining equipment used in exploration, extraction, and processing.
Accelerated Capital Allowances
Up to 95% capital allowance on qualifying mining expenditure in the first year of use, significantly reducing tax liabilities.
Investment Allowance
Additional investment allowance of 15% on qualifying plant and machinery expenditures.
Solid Minerals Development Fund (SMDF)
Access to long-term financing, exploration grants, and technical support for mineral development, especially for small- and medium-scale operations.
Nigerian Export-Import Bank (NEXIM)
Financing options and credit guarantees for export-oriented mineral projects and value-added mineral products.
Public-Private Partnerships (PPPs)
Opportunities to enter PPP arrangements, especially in mineral logistics, processing zones, and shared infrastructure.
Guaranteed Tenure and Transferability
Secure tenure under the Nigerian Minerals and Mining Act, 2007, with rights transferable subject to regulatory approval.
Exemption from Customs and Excise Duties
For plant, machinery, and ancillary mining equipment brought in for the project.
Free Transferability of Licences
Mining leases and licences can be transferred, subject to prior consent from the Ministry of Mines and Steel Development.
As Africa’s largest economy with a youthful, tech-savvy population and a rapidly growing digital ecosystem, Nigeria offers a compelling investment destination for global and regional players in Information and Communication Technology (ICT) and Business Process Outsourcing (BPO).
Nigeria’s journey toward becoming a digital-first economy is underpinned by two robust policy frameworks:
Both policies prioritize the creation of a conducive environment for global outsourcing firms to operate, invest, and scale.
Relevant documents | National ICT Policy National Digital Economy Policy and Strategy |
Relevant institutions | FMCIDE NITDA NIPC |
Nigeria is fast becoming a competitive destination for Business Process Outsourcing (BPO), offering a dynamic blend of human capital, digital infrastructure, policy support, and market access. Below are the core drivers that make Nigeria a top choice for global BPO investment:
To drive digital transformation and job creation, the Government of Nigeria offers a suite of robust incentives that make the country an attractive destination for Business Process Outsourcing (BPO) and ICT investments:
Enjoy a tax holiday of up to 5 years for qualified ICT and BPO ventures.
Encourages early-stage profitability and reinvestment in scaling operations.
100% ownership is allowed for foreign investors in the BPO sector.
Unrestricted repatriation of profits, net of taxes, ensures investor confidence and return on investment.
Customs duty exemption on the importation of ICT and BPO-related machinery and infrastructure.
Reduces initial capital expenditure and accelerates operational setup.
Eligible businesses can tap into concessionary funding and credit guarantees through:
Bank of Industry (BoI)
Nigerian Export-Import Bank (NEXIM)
Nigeria Sovereign Investment Authority (NSIA)
Financing options are available for infrastructure, working capital, and technology upgrades.
Nigeria, as Africa's largest economy and one of the continent's most vibrant energy markets, offers significant opportunities in its power sector. Despite abundant natural resources and a growing economy, Nigeria faces an energy deficit that limits economic growth and industrial development. However, this gap presents a promising investment opportunity for those ready to engage in the country's evolving energy landscape. With government reforms, substantial resources, and a commitment to private sector participation, Nigeria’s power industry is poised for transformative growth.
Nigeria's power sector is at the forefront of economic development. With a population of over 200 million people, electricity demand is rapidly increasing. Yet, the country’s current electricity generation capacity of approximately 13,000 MW falls significantly short of meeting national demand. The Nigerian government has set an ambitious target to expand its generation capacity to 20,000 MW by 2026, opening a wide array of opportunities for private sector investment in power generation, transmission, and distribution.
- Thermal Generation
The Nigerian power mix is heavily reliant on gas-fired generation, which accounts for 75% of total electricity production. The country is blessed with over 200 trillion cubic feet of proven natural gas reserves; ranked 7th largest globally. However, less than 1% of these reserves are utilised for domestic power generation, signalling a vast untapped potential in gas-to-power projects.
- Hydropower Generation
Additionally, hydropower remains an essential source of energy, though its potential is underdeveloped. With an estimated 3,500 MW of hydropower capacity potential, the country has the opportunity to harness this resource to not only meet its growing electricity demand but also to diversify its energy mix, reduce dependence on fossil fuels, and support sustainable economic development. Nigeria’s hydropower potential is concentrated across two major river basins: the Niger River and the Benue River, as well as smaller rivers across the country. The government and various stakeholders have identified several key locations for both large-scale and small-scale hydropower projects.
- Renewable Energy Sources
The Nigerian government is proactively exploring and advancing the use of renewable energy sources, including solar, wind, and biomass, as part of a broader strategy to diversify the country’s energy mix and promote sustainable, low-carbon energy solutions. By harnessing the vast solar potential in the northern regions, the significant wind resources along the coastal areas, and the abundant biomass from agricultural waste, Nigeria aims to reduce its reliance on fossil fuels, improve energy access, and contribute to global environmental sustainability goals. These renewable energy initiatives are aligned with Nigeria’s long-term commitment to a green energy transition, creating investment opportunities in clean, renewable technologies, job creation, and enhanced energy security for the nation.
The national transmission grid is managed by the Transmission Company of Nigeria (TCN), which is responsible for the high-voltage transmission of electricity across the country. As of March 2025, Nigeria's transmission capacity stands at 8,500 MW, with plans to increase it to 10,000 MW by 2026. However, due to infrastructure limitations, the grid currently distributes only about 4,000 MW, which is insufficient for the nation's population exceeding 200 million. This presents a significant opportunity for investment in upgrading and expanding the grid to meet the growing demand for electricity.
The distribution of electricity is managed by 11 private Distribution Companies (DisCos). These companies are responsible for delivering power to consumers across the country. While Nigeria's Distribution Companies (DisCos) face numerous challenges, including ageing infrastructure, power theft, and inefficiencies in customer service, the government is actively pushing for reforms and investment to modernise the country's transmission and distribution infrastructure. These efforts are aimed at improving the efficiency, reliability, and coverage of the power sector.
Relevant documents | Energy Policy 2022 Electricity Act 2023 National Renewable Energy and Energy Efficiency Policy2025 |
Relevant institutions | TCN |
Nigeria has one of the largest energy deficits in Africa, with demand for electricity far outpacing supply. The country’s growing population, projected to reach over 400 million by 2050, and rapid industrialisation contribute to an increasing need for power, creating a substantial opportunity for investment in power generation, transmission, and distribution.
The Nigerian government has undertaken significant reforms in the power sector, particularly through the Electric Power Sector Reform Act (EPSRA), as revised by the Electricity Act 2023, which has facilitated the unbundling of the industry, privatisation of key assets and decentralisation of electricity market regulation. Government-backed initiatives, such as the National Renewable Energy and Energy Efficiency Policy (NREEEP), and the Energy Policy of Nigeria, promote investments in both renewable and non-renewable energy sources.
The privatisation of the power sector has attracted private investors to own and manage power generation, transmission, and distribution assets. The market liberalisation provides private-sector players with the opportunity to improve efficiency, optimise operations, and increase electricity access. This creates attractive opportunities for local and foreign investors.
Nigeria’s vast renewable energy potential, especially in solar, wind, and biomass, presents a rapidly growing segment for investment. Nigeria enjoys abundant sunshine, particularly in the northern regions, with solar energy providing a reliable alternative to conventional power generation methods. The government has prioritised renewable energy, providing incentives for investment in these sectors.
Nigeria’s power sector has received support from international financial institutions such as the World Bank, International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA). These organisations provide guarantees, loans, and credit enhancements to facilitate large-scale infrastructure projects and encourage private-sector participation.
With initiatives such as the Nigerian Electricity Market Stabilisation Fund and the Nigeria Electrification Project (NEP), there are growing opportunities for financing in the sector. These government-supported funding mechanisms provide critical capital for power generation, transmission, and distribution projects.
Nigeria’s location in the Gulf of Guinea provides a strategic advantage for the importation and exportation of energy resources. The country’s energy infrastructure offers potential for export-oriented power generation and regional electricity supply to neighbouring countries, enhancing market growth prospects.
As Africa’s largest economy, Nigeria is at the heart of the continent’s power demand, with regional energy markets dependent on Nigerian power generation capacity. This growing demand offers the potential for cross-border electricity trade and further expansion into regional power markets such as the West African Power Pool (WAPP).
Nigeria provides a robust set of investment incentives for those looking to engage in the power sector, aimed at attracting both local and foreign investors to address the country’s growing energy needs and modernisation goals. These incentives include:
Investors in qualifying power generation and related infrastructure projects can benefit from a tax holiday of up to five years, enabling them to reinvest savings into further development.
Foreign investors are granted full ownership rights and the ability to repatriate 100% of profits from their investments, enhancing the appeal of Nigeria's power sector as an investment destination.
Zero import duty is levied on power generation equipment and machinery, which reduces capital costs and facilitates the importation of necessary technology and infrastructure components for project development.
Capital allowances of up to 95% within the first year of investment allow investors to maximise their tax savings, providing strong financial incentives for initiating power sector projects.
Nigeria provides access to various financing mechanisms such as the Nigeria Sovereign Investment Authority (NSIA) and the Nigerian Bulk Electricity Trading Plc (NBET), both of which offer credit enhancements, guarantees, and loans to projects within the power sector.
In addition to the financing support provided by the NSIA and NBET, the government has launched several energy sector intervention funds to support investments in electricity generation, transmission, and renewable energy. These funds are designed to support both large-scale and off-grid power projects, helping to fill the financing gap in the sector.
The country’s growing role as a regional power hub, with the ability to supply neighbouring countries through cross-border power trading, enhances the investment prospects for infrastructure projects aimed at regional integration and energy exports.
Anchored in light manufacturing and agro-processing, Nigeria’s manufacturing sector offers one of the most compelling investment opportunities on the African continent. With a domestic market of over 220 million people and preferential access to an additional 1.3 billion consumers across Africa through the African Continental Free Trade Area (AfCFTA), Nigeria serves as a powerful gateway to regional and continental value chains.
Nigeria’s approach to industrial development is anchored on sustainable economic diversification, local value addition, and private sector-led growth. The country’s main framework for industrialization is the National Industrial Revolution Plan (NIRP), which aligns with broader national development strategies such as National Integrated Infrastructure Masterplan (NIIMP).
Despite infrastructural and regulatory challenges, the manufacturing sector has demonstrated resilience, contributing nearly 9% to GDP, supporting millions of jobs, and generating significant foreign exchange through rising non-oil exports.
To unlock and scale this potential, the government implements the NIRP, a transformative policy framework focused on boosting industrial productivity, enhancing local value addition, and driving export-led growth. The NIRP strategically targets key subsectors where Nigeria holds comparative and competitive advantage, including:
Agro-processing
Solid minerals beneficiation
Petrochemicals
Steel and metals
Cement
Textiles and garments
Light manufacturing
With focused reforms, expanding industrial infrastructure, and a wide range of investor-friendly incentives, Nigeria’s manufacturing sector is positioned for sustained growth and value creation, making the country an ideal hub for industrial production, regional supply chains, and export diversification in Africa.
NIRP sets the foundation for driving the country’s industrialisation, offering an integrated approach to growth, investment, and export-led economic development. The NIRP is complemented by targeted sectoral policies, legal frameworks, and robust initiatives that offer investors a clear path to growth.
Policy Focus: Development of SEZs and Free Trade Zones in strategic locations to promote economies of scale, attract FDI, and reduce the cost of doing business.
Legal Framework:
Key Sites:
Policy Focus: Simplification of regulatory procedures and automation of business processes to improve Nigeria's global competitiveness.
Legal Framework:
Key Achievements:
Policy Focus: Investments in power, logistics, and digital infrastructure to enable industrial productivity and regional trade.
Legal Framework:
Policy Focus: Targeted funding and credit support to de-risk industrial investments.
Legal Framework:
Key Programs:
Policy Focus: Integration into global value chains through preferential trade agreements.
Legal Framework:
Agreements Leveraged:
Nigeria’s National Industrial Revolution Plan (NIRP) is reinforced by targeted, sector-specific policies designed to unlock the country’s industrial potential, deepen value chains, reduce imports, and expand non-oil exports. These policies are aligned with national priorities and global competitiveness goals, offering tailored incentives and support mechanisms to attract private investment.
Objective:
Reduce the $400 million annual import bill and boost domestic processing.
Strategies:
Incentives:
Objective:
Revive the textile industry and create jobs across the cotton-to-garment value chain.
Strategies:
Incentives:
Objective:
Achieve national self-sufficiency and drive regional exports.
Strategies:
Incentives:
Objective:
Use Nigeria’s gas reserves as feedstock for the petrochemical and fertiliser industries.
Strategies:
Objective:
Strategies:
Incentives:
Objective:
Reduce Nigeria’s $600 million annual sugar import bill and attain self-sufficiency by 2030.
Strategies:
Incentives:
Relevant documents | Tomato Policy National Sugar Policy Nigerian Sugar Master Plan |
Relevant institutions | NSDC FMMSD |
Nigeria offers a robust suite of incentives designed to attract and retain investment in manufacturing, particularly for firms focused on value addition, export growth, and job creation. Key incentives include:
Nigeria is Africa’s leading crude oil producer, with an installed production capacity of 2.5 million barrels per day, ranking 6th globally among oil-producing nations. The country also holds over 200 trillion cubic feet (TCF) of proven natural gas reserves—the largest in Africa and 7th in the world—positioning Nigeria as a strategic hub for global energy investments.
These abundant hydrocarbon reserves are not only the backbone of the Nigerian economy but also present diverse and high-yield opportunities across the entire oil and gas value chain; from upstream exploration and production to midstream infrastructure, and downstream refining, petrochemicals, and gas-based industries.
Once challenged by high gas flaring rates, Nigeria is now undergoing a major energy transition. The country currently produces 2,000 Billion Standard Cubic Feet (BSCF) of natural gas annually, with 70% utilization for domestic supply, LNG export, and power generation. The remaining 30%—previously flared—is now the focus of intensive gas commercialization efforts, supported by public-private partnerships, infrastructure rollouts, and decarbonization strategies.
The sector is driven by the presence of top-tier international oil companies (IOCs). Alongside these global players is a rapidly expanding cadre of indigenous firms, empowered by the Nigerian Oil and Gas Industry Content Development Act and policies that localize value creation.
A transformative milestone for the sector was the passage of the Petroleum Industry Act (PIA) in 2021. The PIA establishes a transparent, market-driven framework for governance, licensing, royalties, and revenue-sharing—designed to de-risk investments, streamline operations, and make Nigeria’s oil and gas sector globally competitive.
Relevant documents | Petroleum Industry Act Oil & Gas Industry Content Development Act |
Relevant institutions | FMPR |
Nigeria’s oil and gas sector is undergoing a transformative shift, with targeted investments in infrastructure aimed at enhancing value addition, boosting energy security, and attracting new capital across the upstream, midstream, and downstream segments. The government and private sector are driving large-scale projects to reposition Nigeria as a fully integrated energy hub.
Nigeria is making bold strides to strengthen its refining and petrochemical base, aiming to reduce dependency on imported petroleum products, enhance energy security, and drive industrialization through local value addition. The refining landscape comprises a mix of large-scale private sector investments, modular refineries, and state-owned facilities, alongside a growing petrochemical footprint.
Location: Lekki Free Trade Zone, Lagos
Capacity: 650,000 barrels per day (bpd) — the largest single-train refinery in the world
Integration: Co-located with a world-class petrochemical complex and urea fertilizer plant
Impact: Expected to meet all domestic fuel needs and create a surplus for export, significantly saving foreign exchange
Operated by the Nigerian National Petroleum Company Limited (NNPCL), these refineries are currently undergoing comprehensive rehabilitation through public-private partnerships to restore them to optimal capacity:
Port Harcourt Refinery Complex
Capacity: 210,000 bpd (two plants: 150,000 and 60,000 bpd)
Rehabilitation is completed and operational
Warri Refinery
Capacity: 125,000 bpd
Undergoing revamp to resume phased operations
Kaduna Refinery
Capacity: 110,000 bpd
Plans are underway for a complete overhaul and modernisation
Designed to expand decentralised refining across oil-producing regions
Over 20 licensed modular refineries
Government support through policy incentives and crude supply agreements
Location: Eleme, Rivers State (near Port Harcourt Refinery)
Ownership: Subsidiary of Indorama Corporation (Privatised from NNPC)
Capacity: Produces polyethylene, polypropylene, and other petrochemical inputs
Significance: Key supplier to Nigerian manufacturing, plastics, and packaging industries; export-focused with global standards.
Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline
614 km natural gas pipeline under the Trans-Nigeria Gas Pipeline project.
Designed to transport 3,500 million cubic feet of gas daily for domestic power, industries, and exports.
Obiafu–Obrikom–Oben (OB3) Pipeline
Key east-west pipeline to improve gas supply integration across Nigeria.
Nigeria-Morocco Gas Pipeline (Proposed)
Ambitious trans-regional pipeline connecting Nigerian gas to North Africa and Europe via 13 West African countries.
NLNG Train 7 Project
Expansion of Nigeria LNG’s capacity from 22 MTPA to 30 MTPA.
Estimated $7 billion investment; creates thousands of jobs and boosts export revenues.
Promotion of LPG and CNG Infrastructure
Development of gas storage terminals, distribution hubs, and fueling stations.
Backed by the National Gas Expansion Programme (NGEP) and the Decade of Gas Initiative.
Crude Oil Terminals: Bonny, Forcados, Qua Iboe, and Escravos serve as export points to global markets.
Strategic Petroleum Storage
Investments in depots and tank farms to improve energy supply resilience.
Seaports and Jetties
Expansion of deep-sea ports (e.g., Lekki Deep Sea Port) to handle petrochemical and energy cargo.
National Oil and Gas Excellence Centre (NOGEC)
Launched by the DPR (now NUPRC) to drive real-time monitoring, operational excellence, and safety compliance.
Integrated Data Centres
Investment in exploration data and digital platforms to de-risk oil and gas investments.
Nigeria has proven to be among the most investment–friendly nations for IOCs, not only because of the geological configuration of its terrain but the relative security of investments in the economy. Also government is putting in place a regulatory framework that would promote competition and ensure transparency in the industry. Other reasons to invest include:
Investment opportunities in the Nigeria oil and gas industry had continued to grow steadily, and these opportunities are ranging from the upstream to downstream activities. These activities are:
The enactment of the Nigeria Local Content Act as enhanced synergies between the host community and the IOCs, thereby resulting in significant new opportunities in the development of marginal fields, engineering and support services for oil and gas operations.
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.
Relevant documents | Nigerian Economic Reform & Growth Plan |
Relevant institutions | FMHUD ICRC |
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:
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
Relevant institutions | NRC |
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:
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:
Relevant institutions | NCAA |
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 MasterplanInvestors 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 is endowed with immense economic potential and is projected to be one of the world’s largest economies by 2050. As a key emerging market, Nigeria is a member of the MINT (Mexico, Indonesia, Nigeria, and Turkey) group of fast-growing economies and, in 2024, was accepted as a partner country of the BRICS bloc (Brazil, Russia, India, China, and South Africa). This partnership underscores Nigeria’s growing influence in global economic affairs and its strategic importance among emerging markets.
With one of the largest internal markets in the world, Nigeria presents significant opportunities for market-seeking investments. Boasting a rapidly growing population of over 200 million, the country offers a vast consumer base, particularly for retail, manufacturing, and service-oriented industries. The retail sector is a significant contributor to Nigeria's economy, ranking as the second-largest contributor to GDP. The sector has experienced substantial growth, driven by urbanization, economic expansion, and a burgeoning middle class. By 2025, E-commerce, an emerging industrial activity, is projected to grow to about $29 billion in size.
Strategic Economic Initiatives
To harness this potential, Nigeria is implementing integrated strategic economic initiatives aimed at achieving sustainable and inclusive economic growth:
1. National Development Plan (NDP) 2021–2025: The NDP serves as Nigeria’s primary economic blueprint, focusing on economic diversification, infrastructure development, macroeconomic stability, investment climate enhancement, and social development. The plan aims to create 21 million full-time jobs and lift 35 million people out of poverty by 2025.
2. National Industrial Revolution Plan (NIRP): This initiative seeks to diversify Nigeria's economy by strengthening the manufacturing sector and reducing reliance on oil exports. It focuses on agro-processing, metals and solid minerals, oil and gas-related industries, and construction to transform Nigeria into a leading industrial nation.
3. Special Economic Zones (SEZs): Nigeria has established SEZs to promote industrialization, attract foreign direct investment, and enhance export competitiveness. These zones offer tax incentives, streamlined regulatory processes, and infrastructure support to boost manufacturing and value-added production. Key SEZs include the Lekki Free Trade Zone, Ogun-Guangdong Free Trade Zone, and the Kano Free Trade Zone, all of which are crucial in driving industrial growth and employment creation.
4. African Continental Free Trade Area (AfCFTA): Nigeria’s participation in AfCFTA presents significant opportunities for economic expansion. The agreement facilitates a single market for goods and services across Africa, boosting investment inflows and positioning Nigeria as a regional digital trade hub. By leveraging AfCFTA, Nigeria aims to unlock new markets and solidify its regional and global trade position.
Enhancing a Competitive Business Environment
Nigeria has been consistent in its drive to improve the prevailing business environment. The government has implemented economic reforms such as unifying exchange rates, streamlining business entry procedures and tax administration regimes, eliminating fuel subsidies, enhancing transport intermodal connectivity and promoting compressed natural gas (CNG) as an alternative energy source to reduce transportation costs and enhance logistic efficiency. These measures aim to stabilize the economy, attract foreign direct investment, and create a more resilient financial system. The administration remains focused on achieving higher economic growth rates beyond the current 3.5% to accelerate poverty reduction and improve living standards.
With strong market fundamentals, abundant natural and human resources, and a government committed to reforms, Nigeria is not just open for business — Nigeria is ready for business!
Nigeria’s Investment Climate: Open and High-Yielding Opportunities
Description | |
---|---|
Young and Skilled Workforce | Young and skilled workforce with 41% of the population under 15 years, improving labour productivity and over 600 thousand new graduates every year; 2% achieving first-class honors, 31% attaining second-class upper division, and 50% securing second-class lower division, the economy is equipped with youthful intelligence and talents. |
High urbanization rate & growing middle class | With 50% of the population already in urban areas and projected to reach 60%, Nigeria continues to experience rapid urbanization and structural transformation. Alongside this trend, real household spending is expected to grow at 3% year-on-year in the coming years, reinforcing the country’s position as one of the fastest-urbanizing nations globally. |
Vibrant financial systems | Nigeria is a key financial hub in Africa, hosting 3 of the continent’s top 20 banks with a combined asset base exceeding US$84 billion. The Nigerian Exchange (NGX), with a market capitalization of US$49.56 billion, is the fourth-largest in Africa, reinforcing the country’s position as a dynamic investment destination. |
Improving business conditions | Haven implemented strategic measures to address short-term macroeconomic challenges, yielding notable outcomes across various sectors, a sustained focus is anticipated to further enhance the nation's macroeconomic stability and security landscape. |
Abundant land & natural resources | Nigeria has 34 million hectares of arable land for tropical and temperate agriculture, Africa’s largest gas reserves (5.94 trillion m³, 3% of global reserves), and 44 commercially viable minerals, offering vast investment and growth opportunities. |
Largest market in Africa | Nigeria has the largest market in Africa and was the first African economy to surpass half a trillion dollars in GDP. With an internal market of over 200 million people and unrestricted access to the rest of the continent through the African Continental Free Trade Area (AfCFTA) – a market valued at over US$3.4 trillion in GDP and 1.4 billion people, projected to reach US$6.7 trillion in consumer spending by 2030 – Nigeria stands as the catalyst for Africa’s economic transformation. |
Cluster of large companies | Nigeria is home to 23 companies with annual revenues exceeding US$1 billion, making it the third-largest cluster of large companies in Africa. The country has a competitive edge in key industries such as cement, energy, telecommunications, and the fast-food industry. |
Government incentives & reforms | Investors benefit from tax holidays, free trade zones, export incentives, and business-friendly policies. |
Booming technology & startup ecosystem | Nigeria is home to Africa’s biggest tech hub (Lagos) and fast-growing fintech companies attracting global venture capital. |
Strategic location within the continent | Nigeria is strategically positioned with land borders connecting West and Central Africa, and well-integrated into global trade networks through five international airports, major seaports, and extensive trade routes, ensuring seamless access to Asia, Europe, and the Americas. |
Relevant institutions | NIPC |
Date | ||
---|---|---|
Official name | Federal Republic of Nigeria | |
Country area | 923,768 square kilometres | |
Capital city | Abuja | |
Political structure | Federal 3-tier System, Bicameral Legislature & an Independent Judiciary | |
Administrative structure | 36 States and 1 Federal Capital Territory | |
Population | 236 million | 2025 estimate |
Local currency | Naira | |
Official language(s) | English | |
Other national language(s) | Hausa, Igbo, Yoruba | |
GDP (USD) | 363.85 billion | 2023 |
GDP growth rate (%) | 2.74 | 2023 |
GDP per capita (USD) | 1,596.6 | 2023 |
Exchange rate (NGN/USD) | 1,492.49 | 28 February 2025 |
Inflation rate (%) | 24.48 | January 2025 |
Labour size (% of working age population) | 80.4% | Q2 2023 |
“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.
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 |
Opportunities for investment exist in:
Obioma Ogbonna
Honorable Commissioner
Ministry of Tourism, Arts & Culture
Umuahia
Abia State
Email: abiatourism@abiastate.gov.ng
Website: abiastate.gov.ng
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.
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 |
Opportunities for investment exist in:
Abba Fufore
Managing Director
Adamawa Investment Company
Email: abbas_fufore@yahoo.co.uk
Telephone: 08039358136
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.
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 |
Opportunities for investment exist in:
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
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.
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 |
Opportunities for investment exist in:
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, 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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
Princ. Manager Invest.
Benue Investment & Property Dev. Company
Km5, Gboko Road,
Makurdi
Telephone: +234 8036161165
Email: simonkpelai@gmail.com
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.
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 |
Opportunities for investment exist in:
Managing Director
Borno Investment Company Limited
No 10, Nguru Road, Maiduguri
Email: mmzarma@gmail.com
Telephone: +234 8064041440; +234 8066713498
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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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
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.
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 |
Opportunities for investment exist in:
The Director General
Kano State Investment Promotion Agency
Kano State
Email: itukur55@yahoo.co.uk, hafsatysani@yahoo.com
Telephone: +234 8035591241
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.
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 |
Opportunities for investment exist in:
Director General
Katsina State Investment Promotion Agency
Email: itukur55@yahoo.co.uk
Telephone: +234 8032873529
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.
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 |
Opportunities for investment exist in:
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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
Permanent Secretary
Ministry of Commerce and Cooperatives
State Secretariat, Kwara
Email: nimabi1961@gmail.com
Telephone: +234 8136436851
Website: www.kwarastate.gov.ng
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.
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
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
tax base | |
tax rate (case No.1) |
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.
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 |
Opportunities for investment exist in:
Director General
One-Stop-Shop Investment Centre (OSIC)
Minna Niger State
Email: sarkibello@yahoo.co.uk
Telephone: +234 8033327693
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.
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 |
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 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.
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 |
Opportunities for investment exist in:
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 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).
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 |
Opportunities for investment exist in:
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 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.
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 |
Opportunities for investment exist in:
Ministry of Economic Planning and Budget
State Government of Osun,
Osogbo
Email: olalekanyinusa@gmail.com; yinusaolalekan@yahoo.com
Telephone: 08035171663
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.
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 |
Opportunities for investment exist in:
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.
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 |
Opportunities for investment exist in:
Permanent Secretary
Ministry Commerce, Trade and Industries
Rivers State
Email: nkemladi@yahoo.com
Telephone: 08037055587
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.
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 |
Opportunities for investment exist in:
Chairman
Sokoto State Investment Company Ltd
8, Kano Road, Sokoto
Email: tukuree@yahoo.com; sakkwato@gmail.com
Telephone: +234 8036060044, +234 8065296661
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.
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 |
Opportunities for investment exist in:
Managing Director
Taraba Investment and Properties Limited
Taraba
Email: rabiuahmadbako@gmail.com
Telephone: +234 8065416167
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.
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 |
Opportunities for investment exist in:
Managing Director
Yobe Investment Company Ltd
Email: hamzasaidu1966@gmail.com; littleliquid83@gmail.com; yobeinvestment@gmail.com;
Telephone: +234 8062347777
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”
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 |
Opportunities for investment exist in:
Managing Director
Zamfara State Investment Property Development Company
Gusau, Zamfara State
Email: murygusau2014@gmail.com
Telephone: 8099407720
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.
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 |
Opportunities for investment exist in:
Coordinator
Abuja Infrastructure Investment Centre
Investment House,
No. 4 Nkwere Street
Off Muhammadu Buhari,
Garki 2, Abj
Email: musakubau@yahoo.com
Telephone: +234 8037860431