Relevant documents | Companies and Allied Matters Act 2020 |
Relevant institutions | CAC |
1. Private Limited
Liability Company (LTD): This is the most common form of business
set up by investors and it requires a minimum share capital of NGN100,000. A
private limited liability company is a legal entity in its own right, separate
from those who own it. The company requires a minimum of two (2) and a maximum
of fifty (50) shareholders and directors. Such a company is restricted from
transferring its shares freely and prohibited from inviting the public to
subscribe to its shares, debentures and/or deposit money for fixed periods
or payable at call, whether or not bearing interest.
2. Public Limited Liability Company (PLC): The minimum share capital for this type of company is NGN2,000,000. A Public Limited Company required a Memorandum of Understanding of two (2) shareholders. There is no restriction on the maximum number of shareholders or their right to transfer their shares freely. The public may be invited to subscribe to its capital and the shares may be traded on any securities Exchange.
3. Company Limited by Guarantee (GTE): Generally incorporated as a not-for-profit, this kind of company limits its members’ liability to the amount of their respective guarantees.
4. Unlimited Company: This type of company has no limit on the liability of its members.
5. Limited Liability Partnership (LLP): This form of a company requires at least 2 designated partners who are individuals where at least one of the partners shall be resident in Nigeria. A Foreign Limited Liability Partnership (FLLP) is required to be registered in Nigeria prior to carrying out business in Nigeria.
6. Limited Partnership (LP): Form of a company where the partners shall not exceed 20 and shall consist of general partners and limited partners. The general partner shall be liable for the debts and obligations of the partnerships.
Relevant institutions | CAC |
Businesses can be registered online via the CAC Company Registration Portal. Through this site, investors – or their agents – can conduct name searches, complete the required forms, submit all relevant incorporation documents, and also pay associated fees. However, investors may also visit the CAC office or the One-Stop Investment Centre (OSIC) of the Nigerian Investment Promotion Commission (NIPC) to complete or submit paper applications.
The online registration process is laid out below:
See Link: Summary of CAC fees and forms
In accordance with Section 788(2), a Foreign Limited Liability Partnership (LLP) may apply for exemption from incorporation if it is a:
1. LLP invited to Nigeria by or with the approval of the Federal Government to execute any specified individual project.
2. LLP in Nigeria for the execution of specific individual loan projects on behalf of a donor country or international organization.
3. LLP owned by a foreign government and engaged solely in export promotion activities.
4. An engineering and technical expert engaged on any individual specialist project under contract with any of the governments in the Federation or any of their agencies or with any other body or person, where such contract has been approved by the Federal Government.
Such applications for exemption shall be forwarded to the office of the Secretary to the Government of the Federation (SGF).Relevant documents | Companies Regulations 2021 Companies and Allied Matters Act 2020 |
Relevant institutions | CAC |
According to Chapter 3, Section 78 of the Companies and Allied
Matters Act (CAMA) Act 2020, all foreign company are required to incorporates a local company in Nigeria before commencing business.
The Nigerian Investment Promotion Commission Act, Chapter N117, Laws of the Federation of Nigeria 2004 established the Nigerian Investment Promotion Commission to encourage, promote, and coordinate all investments in Nigeria. This act also regulates the participation of foreign businesses in the country.
The NIPC Act provides for foreign nationals to own up to 100%
equity and undertake any type of business in Nigeria except those related to
the production of arms, ammunition, narcotics and related substances and any items
indicated on the negative list as defined by section 31 of the Act.
Section 20 of the NIPC Act requires all enterprises in which foreign participation is permitted to apply to the Commission for business registration.
To process NIPC Business Registration, the following documents are required:
The One-Stop Investment Centre (OSIC) brings together relevant government agencies to one location to provide fast-tracked services to investors. The Centre is coordinated by the NIPC. The objective of the Centre is to simplify business entry processes by removing
administrative and regulatory bottlenecks pertaining
to doing business in Nigeria. The Centre presently has twenty-seven (27) participating agencies. |
Relevant institutions | NIPC |
Specifically OSIC provides the following services:
|
The Environmental Impact Assessment (EIA) is used to evaluate the probable positive and negative environmental, health and social impacts of a proposed project. The process provides the Federal Ministry of Environment and National Environmental Standards Regulatory and Enforcement Agency (NESREA) with information to determine the appropriate permit status of a project.
The procedures for obtaining EIA Certificate are outlined below:
See Link: Environmental Guidelines Revision
Item | Cost (NGN) |
---|---|
Initial Deposit | 250,000 |
Application Fee | 10,000 |
Relevant documents | NESREA ACT 2007 Environmental Impact Assessment Act EIA Procedural Guideline EIA Applicable Fees |
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.
The Nigerian legal system is composed of the English Common Law, Nigerian customary law, and Islamic Law. Business transactions are governed by the Common Law, as modified by statutes to meet local demands and conditions.
This Act established the NIPC as an investment promotion agency of the Government. NIPC is responsible for registering foreign investments in Nigeria, as well as liaising between investors and government, institutional lenders and other organisations concerned with investments.
The NIPC Act has removed the ceiling on foreign investment in Nigerian companies and introduced several positive changes such as:
The Investment and Securities Act 2007 contains comprehensive provisions on matters relating to securities and investments in Nigeria. The Act regulates mergers, acquisitions and other forms of business combination, securities transactions, including electronic transfer of registered shares, capital market operations in all their ramifications, borrowing by States, Local Government, other Government agencies and business entities, etc.
ISA provides for the establishment of:
Relevant documents | Investment and Securities Act 2007 National Investor Protection Fund |
Expropriation
The NIPC Act of 1995 forbids nationalization or expropriation of a business or assets unless the acquisition is in the national interest or for a public purpose. In such cases, investors are entitled to fair compensation and legal redress.
Specifically, Section 25 of the Act provides that:
1. Subject to subsections (2) and (3) of this section-2. There shall be no acquisition of an enterprise to which this Act applies by the Federal Government, unless the acquisition is in the national interest or for a public purpose and under a law which makes provision for-
- No enterprise shall be nationalized or expropriated by any Government of the Federation;
- No person who owns, whether wholly or in part, the capital of any enterprise shall be compelled by law to surrender his interest in the capital to any other person.
3. Any compensation payable under this section shall be paid without undue delay, and authorisation for its repatriation in convertible currency
- Payment of fair and adequate compensation; and
- A right of access to the courts for the determination of the investor's interest or right and the amount of compensation to which he is entitled.
shall where applicable, be issued.
Section 26 of the NIPC Act seeks to ensure the amicable settlement of disputes between investors and the government. However, where such is not successful, arbitration serves as the main alternative resolution mechanism.
The Arbitration and Conciliation Act of 1990 provides a unified legal framework for the fair and efficient settlement of commercial disputes by arbitration and conciliation. It also makes applicable the Convention on the Recognition and Enforcement of Arbitral Awards (New York Convention) to any award made in Nigeria arising out of international commercial arbitration. The Act allows parties to challenge arbitrators, provides that an arbitration tribunal shall ensure that the parties receive equal treatment, and ensures that each party has full opportunity to present its case.
Litigation is also a method of dispute resolution. Nigeria's civil courts handle disputes between foreign investors and the government as well as between foreign investors and Nigerian businesses. Nigerian law allows the enforcement of foreign judgments after proper hearings in Nigerian courts. However, where there is disagreement between the investor and the Federal Government as to the method of dispute settlement to be adopted, the International Centre for Settlement of Investment Dispute (ICSID) Rules shall apply.
Nigeria is a member of the United Nations
Commission on International Trade Law and a signatory to ICSID and the 1958
Convention on Recognition and Enforcement of Foreign Arbitral Awards (New York
Convention).
Relevant documents | Arbitration and Conciliation Act 2004 |
Nigeria has bilateral investment agreements with 31 countries; 15 of which are in force. The country also has Double Tax Treaties with 13 countries, and is a signatory to 21 Investment-related instruments.
Relevant Links Nigeria’s International Investment Treaties
The agreements make provisions for the elimination of double taxation with respect to taxes on income and capital gains. Section 41 CGTA provides that any arrangement set out in an order made under Section 38 PITA and Section 45 CITA so far as they provide (in whatever terms) for relief from tax chargeable in Nigeria on capital gains by virtue of this section, have effect in relation to CGT. |
Partners: Belgium, Canada, China, Czech Republic, France, Italy (airline and shipping only), Pakistan, Phillipines, Romania, Slovak Republic, South Africa, The Netherlands, United Kingdom |
An IPPA seeks reciprocal promotion and protection of investments by individuals and companies in the territories of participating States. An IPPA provides the baseline minimum protection for foreign investments. |
Partners: China, Finland, France, Germany, Italy, Korea Republic, Netherlands, Romania, Singapore, South Africa, Spain, Sweden, Switzerland, United Kingdom. |
ECOWAS Treaty is a multilateral agreement executed by 15 countries in West Africa to enhance and accelerate economic and social development in the region. Further to the Treaty, ECOWAS set up ETLS as an operational tool to promote and facilitate trade within the region. This Scheme provides for: (a) abolition of customs duties levied on imports and exports of goods produced and moving among member states; and (b) abolition of non-tariff barriers among members states to facilitate free movement of goods and services across member states. |
Partners: Benin, Burkina Faso, Cape Verde, Cote d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo |
The NIPC Act guarantees foreign investors the unrestricted transferability of proceeds from their investment in Nigeria and capital repatriation in the event of liquidation. Investments in form of share capital contribution or loans may be made in foreign currency but information on such transactions must be submitted to the CBN by the dealer (i.e. a Nigerian bank) within 24 hours in order to obtain a Certificate of Capital Importation (CCI).
Once the foreign investor has the CCI, the following can be repatriated without hindrance:
There is currently no ceiling on profits distributable as dividends, provided such distributions are from profits and not capital, and there are no reasonable grounds for believing that the company is or would be insolvent after the payment.
Relevant documents | Nigerian Investment Promotion Commission Act |
Relevant institutions | NIPC |
The Nigerian Legal system strives to protect intellectual property through the Trade Marks Act, the Patents and Designs Act, and the Copyright Act.
Trademarks distinguish the goods or services of one enterprise from those of another. They are registrable at the Trade Marks Registry, Abuja. Registration of a trademark confers on the person registering it, a right to the exclusive use of that trademark for a period of seven (7) years, which may be renewed. The common remedies for trademark infringement include an injunction, award of damages, delivery up or destruction of the infringing goods.
Patents and designs relate to inventions. An invention can be patented if it is new, is capable of industrial application, or constitutes an improvement upon a patented invention. This must also be registered to be protected. A patent expires after twenty (20) years from the date of registration, while a design is effective in the first instance for five (5) years but renewable for two (2) consecutive periods of five (5) years each.
Copyright automatically applies to original creative works (such as literary, musical and artistic works, cinematograph films, sound recordings, and broadcasts) as soon as they are created. Copyright is valid for fifty (50) years in the case of broadcasts, sound recordings and cinematography, and seventy (70) years for literary, musical and artistic works. The Nigerian system enables people with skill and enterprise to produce and market goods and services in the fairest possible conditions, thereby facilitating trade.
The Nigerian Copyright Commission is responsible for the administration of all copyright matters. The remedies for the breach or an infringement of copyright are damages, injunction, accounting for profits, delivery or destruction as well as the conversion of rights.
Relevant Institutions: Nigerian Copyright Commission
Trade Mark: http://www.nigeria-law.org/Trade%20Marks%20Act.htm
Relevant documents | Nigerian Copyright Act |
Relevant institutions | Nigerian Copyright Commission (NCC) |
NOTAP regulates the transfer of foreign technology and technical expertise to Nigerian companies. Any agreements involving the transfer of foreign technology to a Nigerian company must be registered with NOTAP as a pre-condition for obtaining foreign currency. Non-registration will frustrate transfer of any payments to be made outside Nigeria under the respective Agreement. Fees payable under the agreement (such as royalties, management fees, software licenses, etc.) must not exceed limits prescribed by the NOTAP and the CBN. The agreement must clearly specify the services to be provided or the features of the process or product being licensed.
Relevant Links NOTAP Act
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 |
The Nigerian House of Assembly recently passed the Federal Competition and Consumer Protection Bill 2017. The bill seeks to establish a Federal Competition and Consumer Protection Commission and Tribunal to promote fair, efficient and competitive markets in Nigeria. It will also facilitate access to safe products by all citizens and protect the rights of all consumers in Nigeria.
Now awaiting the assent of the President, the bill which will affect all sectors of Nigeria’s economy, will also establish a National Administrative Framework for consumer protection, remove regulatory overlaps, create regulatory harmony between the Commission and other agencies involved in consumer protection and create a strict liability offense for common unfair trade practices.
The Federal Government established the Presidential Enabling Business Environment Council (PEBEC) in July 2016 to work progressively towards removing bureaucratic constraints to doing business in Nigeria and make the country a easier place to start and grow a business.
The Council is an inter-governmental and inter-ministerial chaired by His Excellency, Vice President Yemi Osinbajo, SAN, and comprises ten ministers, the Head of the Civil Service of the Federation, the Governor of the Central Bank of Nigeria, representatives of the National Assembly, the Judiciary, and organized private sector.
The Council, in collaboration with the National Assembly, the Judiciary, the Ministries, Departments and Agencies (MDAs), and the private sector have implemented over 100 reform initiatives through accelerated national action plans focused on ten (10) indicators, these reforms are aimed at reducing the challenges faced by SMEs while doing business.
These reforms implemented across various sectors of the economy and Ministries, Departments, and Agencies (MDAs) of government have seen Nigeria sustained its reform agenda resulting in 15 places upward movement in the World Bank’s Ease of Doing Business Index 2020, from the 146th position on the 2019 ranking to 131st in the World Bank’s 2020 report.
In July 2017, the Council kicked off the sub-national Ease of Doing Business project with all States and the Federal Capital Territory (FCT), with the primary aim of cascading the ease of doing business initiatives down to the sub-national level by engaging and collaborating with state governments to implement reform initiatives that would increasingly make their states more attractive to business.
The Enabling Business Environment Secretariat (EBES) assists the MDAs to implement the reform agenda of the Council.
Please visit www.pebec.gov.ng for more information.
Relevant documents | The Executive Order PEBEC Status Report |
Relevant institutions | PEBEC |
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.
The Nigerian economy is the biggest economy in Sub-Saharan with a Gross Domestic Product (GDP) of US$405 billion in 2016; a year the economy contracted by 1.51%. The economy has since moved out of recession; and has expanded in the last three consecutive quarters of 2017; the third quarter growth rate of 1.4% was above the World Bank’s 1.2% projected growth rate for 2017. The economy ended the year with a growth rate of 0.86%.
Fiscal incentives in form of duty waivers, tax exemptions, tax holidays, rebate, accelerated capital allowances and many more are provided for companies that undertake manufacturing, agriculture, technology, innovation and export-related activities. The Naira (N) is used for day to day transactions with exchange transactions regulated by the Foreign Exchange Act 1995. Cross border transactions are allowed but with some level of restriction to protect the local currency, prevent funding of terrorism and curb money laundering.
Nigeria is a member of the World Trade Organisation, and has recently ratified the Trade Facilitation Agreement (TFA) – a move welcomed by trade experts given Nigeria’s position as Africa’s largest economy. The TFA sets forth a series of measures for expeditiously moving goods across borders inspired by the best practices from around the world.
Nigeria is a member of the following organisations and associations:
African Union: Nigeria is a founding member of the African Union (AU), formerly Organisation of African Unity (OAU), which was established in May 1963. The creation of the AU brings the dream of a common African currency, foreign policy, defence structure and economic programme closer to reality.
African Union Website
New Partnership for Africa’s Department (NEPAD): Nigeria is an active member of NEPAD (established by the AU) whose main objective is to give impetus to Africa’s development, by bridging existing gaps between Africa and the developed world.
ECOWAS: Nigeria is a founding member of the Economic Community of West African States, an economic union of 15 West African States established in May 1975 to facilitate trade in the region and to promote regional joint development efforts. In January 1990, ECOWAS commenced a Trade Liberalisation Scheme (TLS) aimed at the total elimination of customs duties and taxes of equivalent effect, removal of non-tariff barriers and the establishment of a Common External Tariff (CET) to protect goods produced in Member States.
ECOWAS Factsheet on Common External Tarrif
Commonwealth of Nations: Nigeria is a member of The Commonwealth, an intergovernmental association of 52 sovereign states that once made up the British Empire.
Commonwealth of Nations Website
Organisation of Petroleum Exporting Countries: OPEC is a permanent, inter-governmental organisation of fourteen oil-producing nations including Nigeria, which joined in 1971. OPEC seeks to co-ordinate and unify the petroleum policies of Member Countries, ensure the stabilisation of oil prices in order to secure efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to investors in the petroleum industry. A very active member of OPEC, Nigeria is the 13th largest producer of petroleum in the world, the 5th largest exporter and has the 10th largest proven reserves.
Nigeria is also a member of the United Nations (UN) and plays an active role in its peace-keeping activities globally.
Nigeria has some of the richest natural resources for agricultural production in the world: over 80 million hectares of arable land, of which only 40% is cultivated; 230 billion cubic meters of water; abundant and reliable rainfall in over two-thirds of its territory. Nigeria is the world’s largest producer of cassava, yams and cowpeas (beans); fourth largest producer of groundnut and cocoa; and Africa’s largest producer of tomatoes, besides several other crops.
Relevant documents | Agriculture Promotion Policy (2016 – 2020) |
Relevant institutions | FMAFS NIRSAL NIPC |
Agriculture is the country’s largest sector, contributing 22 percent of GDP. It is also the largest employer, providing livelihood for about 90 percent of the rural population. Despite the recent recession in the country, the agriculture sector sustained a positive momentum, eventually helping to lift the country out of recession. With its detachment from the negative effects of lower oil prices and illiquidity, agriculture is the most important and resilient sector in the Nigerian economy, attractive for the following reasons:
As part of the economic recovery plan, the Government prioritized the diversification of the country’s revenue base, and identified mining as one of the pivotal sectors. The MMSD issued a revised sector growth and development roadmap to address the key challenges and outline strategies for rapid development and utilization of key minerals and metals. One of the targets is to grow the sectors’ total contribution to Nigeria’s GDP to about 10% by 2026. The Government has launched a $83, 334, 000 (N30 billion) intervention fund to open up the sector to multinational companies. The fund will be used to promote exploration and research. Government is also open to negotiation with respect to the concession of the country’s railway infrastructure to boost evacuation.
Relevant documents | Nigerian Minerals and Mining Act 2007 Minerals Mines Regulations 2011 |
The National Information and Communication Technology Policy was developed by the Ministry of Communication Technology, in 2012 to help facilitate the transformation of Nigeria into a knowledge-based economy. The need to growth the BPO segment in Nigeria features within this policy document: “It is important… especially as Government continues to stimulate the creation of jobs – to urgently promote a conducive environment that will enable … firms to invest in and participate in the global BPO economy.”
Relevant documents | Economic-Recovery-Growth-Plan-2017-2020 |
Key factors making the sector attractive include:
The Nigerian Power sector has undergone several reforms over the last decade yet it remains in need of significant investment as its utility-scale electricity generation capacity continues to fall short of meeting domestic demands. The goal is to increase power generation from fossil sources to 20,000MW by 2020 through private sector participation.
Electricity in Nigeria is generated either through gas or hydro (water) with gas contributing 75 percent of the country’s energy mix. While Nigeria is estimated to have over 160 trillion cubic feet in natural gas reserves, seventh largest in the world, the country produces less than 1 percent of its reserves – thus underscoring power generation’s dependency on the oil and gas sector given that gas supply and pricing remain key issues for industry operators… particularly generation companies.
To promote investor confidence, the World Bank, International Finance Corporation (IFC) and MIGA (Multilateral Investment Guarantee Agency) provided credit support to the industry in the form of partial risk guarantees (PRGs) and partial credit guarantees (PCGs). This included a PRG of $245 million to support the establishment of the Azura gas-fired power plant by Azura Power West Africa in Edo State synchronized with loans and hedging instruments up to $135 million with guarantees up to $659 million.
The Renewable Energy Programme
The Renewable Energy Programme is initiated by the Federal Ministry of Environment in fulfillment of the Federal Republic of Nigeria’s obligation to the United Nations Framework on Climate Change (UNFCC) and as part of African strategy on voluntary emission reduction. The programme is developed as mitigation tool by Nigeria in response to the UNFCCC Accord, which includes:
For more information on Renewable Programme
Relevant documents | NATIONAL RENEWABLE ENERGY AND ENERGY EFFICIENCY POLICY (NREEEP) |
Relevant institutions | FMHUD NERC NIPC |
Manufacturing grew by 10.32 percent in the third quarter of 2017, contributing 8.81 percent to Nigeria’s GDP. The largest manufacturing sub-sectors are agro-processing, comprising food, beverages and tobacco (45 per cent of total in 2015), light manufacturing, including textile and wood products (31 per cent), and resource processing, e.g., cement and basic metals (18 per cent). These sectors all enjoyed sustained growth in 2010-2015.
The government seeks to improve the performance and size of this sector by developing Special Economic Zones (SEZs) to provide dedicated infrastructure to support hub productivity and re-energize local industries.
Through the Nigerian Industrial Revolution Plan (NIRP) which is designed to accelerate the build-up of industrial capacity, the government plans to improve access to credit and financial services, infrastructure and power supply thus reducing the input costs of manufacturers and increasing their overall competitiveness and profitability.
The
Nigeria manufacturing sector operates at minimum investment risk guaranteeing
considerable return on investment. The industry is exposed to a huge local
resource of trainable and affordable workforce, vibrant small and medium enterprises
in various value chains, and most importantly, a large internal market with
considerable purchasing power. Other reasons why you should invest in Nigeria manufacturing
sector include:
Investment opportunities abound in the following activities in the activities:
New industries are emerging everyday and the economy is acquiring necessary skills and capacity in these new areas.
With a crude oil production capacity of 2.5 million barrels per day, Nigeria ranks as Africa's largest producer of oil and the sixth largest oil producing country in the world.
The country equally has the largest natural gas reserves in Africa, and ranks seventh in the world. It is eager to capitalize on this important resource after many years of flaring from oil fields. The country has attained an annual average production of about 2,000 Billion Standard Cubic Feet (BSCF) of Natural Gas; of which about 70% is utilized while 30% is still being flared annually.
Nigeria continues to attract major international oil companies (IOC), most of which are presently represented in Nigeria: Total, Chevron, ExxonMobil, Elf, Shell, ConocoPhillips and Eni.
Relevant institutions | FMPR |
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.
The economy is endowed with great economic potentials and is expected to be one of the world’s top economies by 2050. A member of the MINT countries, and one of the next four largest emerging and developing economies after the BRIC countries. All these are clear attestation to the potentials inherent in the economy.
The economy possesses one of the largest internal markets in the world. With a growing population of over 193 million, the economy presents huge opportunity for market seeking investments. According to Global Retail Development Index, Nigeria’s retail sector made a national sale of over US$125 billion in 2016. This was made possible by a middle-class population that has grown by over 600% in the last few years, and now represents over 38% of the population of the country.
The Economic Recovery and Growth Plan (ERGP);
the national medium term economic plan for 2017 – 2020 has a vision
for sustained inclusive growth that is anchored on:
i. a stable macroeconomic environment
ii. agriculture and food security
iii. energy sufficiency (power and petroleum products)
iv. improved transportation infrastructure
v. industrialization focusing on small and medium scale enterprises
Overall, the Plan projects to grow the economy at an annual average of 4.62%. This is to be achieved by focusing on growth sectors - sectors that have consistently contributed significantly to the GDP and attracted investors interests, both domestic and foreign.
The commitment to improve the enabling
environment has seen an improved ranking of the economy by the World Bank in
the 2018 Doing Business Report. The economy achieved a 24 places upward
movement to being ranked 145 out of 190 countries in the process recording
positive change in seven out of the ten indicators. Efforts are on to ensure
this trend is sustained to ensure the country makes top 100 ease of doing
business ranking by 2020.
Please
be assured that Nigeria is not just open for business, Nigeria is ready for
business!
Nigeria has been rated one of the top 10 improved economies by the World Bank in the Doing Business Index 2020, the 2nd time within 3 years. Through its Presidential Enabling Business Environment Committee (PEBEC), the country is actively improving its business environment to attract investors. So far, Nigeria has streamlined the business incorporation, tax payment and Visa-on-Arrival processes, improved access to credit, fast-tracked export procedures, eliminated manual baggage searches at its airports and improved its tax administration framework. The most populous nation in Africa is open for business, offering the following to investors:
Description | |
---|---|
Young and Skilled Workforce | Young and skilled workforce with 43% of the population under 15 years, improved labour productivity and over 1.8million new graduates every year |
High urbanization rate & growing middle class | High urbanization rate with 48% of the population in urban areas and 168mn people forecasted to live in big cities by 2030. Rising consumer spend projected to increase by $94bn in 2025 |
Vibrant financial systems | Robust financial markets with 7 of the top 25 banks in Africa and the second largest Stock Exchange on the continent |
Improving business conditions | Implementation of a strategic plan to tackle short term macro-economic challenges. Active anti-corruption campaign and decline in casualties from security incidents. |
Abundant land & natural resources | 84million hectares of arable land, 9th largest gas reserves and 44 exploitable minerals in proven commercial quantities |
Largest market in Africa | Largest market in Africa with proximity to other west African markets. Land borders with Benin, Cameroon, Chad & Niger & 5 international airports |
2nd biggest cluster of large companies | 56 companies with revenues over $500mn and 2nd largest cluster of large companies in Africa |
56 companies with revenues over $500mn and 2nd largest cluster of large companies in Africa | Investor friendly climate with strong appetite to encourage private sector investments. Generous statutory incentives with 14 Free Trade Zones |
Relevant institutions | NIPC |
Date | ||
---|---|---|
Official name | Federal Republic of Nigeria | |
Country area | 923,768 square kilometres | |
Capital city | Abuja | |
Population | 206 million | 2020 estimate |
Administrative structure | 36 States and 1 Federal Capital Territory | |
Local currency | Naira | |
Official language(s) | English | |
Other national language(s) | Hausa, Igbo, Yoruba | |
GDP (Current USD) | 468.60 billion | 2020 |
GDP growth rate (%) | (1.92) | 2020 |
GDP per capita (USD) | 2,273.20 | 2020 |
Exchange rate (NGN/USD) | 410.42 | 07 Sept. 2021 |
Inflation rate (%) | 17.38 | July 2021 |
Labour size (% of population) | 69.7 million (34%) | Q4 2020 |
“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