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Investment in Nigeria

Nigeria with over one hundred and forty million population is a worthy destination for investors of all sorts.  Nigeria has an internal market that has no rival within the African continent.
In1988, the Industrial Coordination Committee (IDCC), now known as the Nigerian Investment Promotion Commission (NIPC) (established in 1995), was set up to manage the grant of all approvals with regards to the creation of new businesses by foreigners.

Investments into the following areas are unwelcome:

  • Arms and ammunition
  • Narcotic drugs and psychotropic substances
  • Military, paramilitary disciplined services uniforms

Before you Invest:
No doubt there are investment opportunities in Nigeria. However, there are some important tips to know before you invest. Beehive brings you some of these:

  • Know the sector you want to invest in. Research. Understand the market value of the sector.
  • Get incorporated by the Corporate Affairs’ Commission (CAC) by visiting any of their offices in any of the thirty-six states of the federation. There is more information about this on the CAC website:  
  • Investments with foreign participation are registered with the NIPC. (In practice, however, the NIPC has been limiting the registration to companies investing a minimum share capital of N10 million (about $80,000).)
  • Registration with NIPC is not necessary for companies establishing in the Export Processing Zones (EPZs), or obtaining the “Export Processing Factory” status.
  • In instances of Export Processing Zones (EPZs), or obtaining the “Export Processing Factory” status, investment approval and licensing is the responsibility of the Nigerian Export Processing Zones Authority.

Sectors with Potentials for Investments
The enormous profit that can be made in the oil and gas industry as made this sector with that most the highest number of investors.

Other sectors are:

Agriculture sector:This involves food preservation, animal feeds production, fruits processing, livestock and abattoir development, trawling fish and shrimps and large scale integration farming.
Solid Mineral sector: Nigeria has many untapped resources: Limestone, Coal, Tantalite, Gypsum, Gold, Barite, Marble, Manganese, Lead/zinc, Bitumen, Tin and columbite, Iron ore, Kaolin. The solid mineral sector can be explored. For more information, check this website
Telecommunications sector: Provision of private network links, sales and installation of terminal equipments, manufacture of telecommunication equipments and accessories.

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