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Why Invest in Nigeria
Nov 04

Why Invest in Nigeria

Nigeria has consistently been ranked as one of the top three destinations for foreign direct investment (FDI) in Africa over the past decade until 2014, with Nigeria's FDI stock reaching 98.73 billion in 2016, a 3% increase from 2015. While most of the investment is directed at the oil & gas sector, FDI flows are diversifying.

Market size of more than 195 million within Nigeria and 69 million within bordered-countries Abundant minerals and natural resources for easy access to raw material. Access to large foreign market through various regional and world trade agreements and strategic location in the world. Availability of investment-friendly incentives to reduce cost of production. Active membership with WTO. Nigeria holds significant political relevance in the region and on the international stage

Nigeria has introduced a number of incentives to assist foreign investors. The Nigerian Investment Promotion Commission Act ensures that investors can repatriate 100% of profits and dividends, and that 100% ownership of companies is allowed in all sectors apart from oil & gas. (While there are no restrictions on repatriating money for foreign entities, there are restrictions if all directors are Nigerian). Other incentives include a favourable Companies Income Tax, Pioneer Status Grants, Free Trade Zones and tax relief for research and development.

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