INVESTING IN NIGERIA |
WHY NIGERIA |
Nigeria is Africa’s foremost business destination second only to South Africa. Its currency is the Naira. $1.00USD is approximately N156. The country operates a market economy dominated by crude oil exports with the revenue earnings from the sector accounting for 90% of forex earnings and 65% of budgetary revenues. Other exports are cocoa, palm oil, groundnuts, cotton, timber and rubber.
Nigeria’s imports are in the region of $14.54billion USD. Import commodities include machinery, chemicals, transport, equipment, manufactured goods and live animals.
In recent times, focus is being directed at non oil exports and agriculture, which presently accounts for 30% of the GDP, to diversify the economic base. Opportunities exist for the exploitation and export of natural gas, bitumen, limestone, coal, tin, columbite, gold, silver, lead-zinc, gypsum, glass sands, clays, asbestos, graphite, and iron ore, among others.
- LARGE MARKET
- POLITICAL STABILITY
- ABUNDANT RESOURCES
- FREE MARKET ECONOMY
- ROBUST PRIVATE SECTOR
- FREE FLOW OF INVESTMENT
- FAST GROWING FINANCIAL SECTOR
- SKILLED AND LOW COST LABOUR
- ATTRACTIVE INCENTIVES
- INFRASTRUCTURE
The Nigerian Investment Promotion Commission (NIPC) |
The Nigerian Investment Promotion Commission (NIPC) is Federal Government Agency in Nigeria established by the NIPC Act N0. 16 of 1995 to promote, co-ordinate and monitor all investments in Nigeria. The basic functions and powers of the NIPC are as prescribed by Act 16 of 1995. |
The Commission has perpetual succession and a common seal, which is specially established, among other things, to:
|