NIGERIAN INVESTMENT PROMOTION COMMISSION ACT

An Act establishes the Nigerian Investment Promotion Commission as the main body for promoting investments in Nigeria, offering protections and defining rules for foreign investment. It targets foreign and domestic investors, sector regulators, and international partners. This aims to attract investments by creating an enabling environment and providing incentives.

What Is This Policy?

An Act establishing the Nigerian Investment Promotion Commission (NIPC) as the apex body for promoting and coordinating investment activities in Nigeria, granting investment protections and defining the legal framework for foreign investment. Constitution of the Federal Republic of Nigeria 1999; Companies and Allied Matters Act; Foreign Exchange (Monitoring and Miscellaneous Provisions) Act; Investment and Securities Act; Finance Act; Nigerian Export Promotion Council Act

Foreign and domestic investors in Nigeria NIPC as the investment promotion body Sector ministries and regulators International investment partners and DFIs

Who Does It Target?

Domestic and foreign investors establishing or expanding businesses in Nigeria. The Nigerian Investment Promotion Commission (NIPC) and its officials. Federal Ministries, Departments, and Agencies involved in investment registration and facilitation. One-Stop Investment Centre (OSIC) and business registration stakeholders.

What Does It Aim to Achieve?

Attract and facilitate investment into Nigeria by creating an enabling legal environment, providing investment protection guarantees, offering incentives, and establishing a single facilitation window.

Key Features

Investment Protection: Guarantees against expropriation without fair compensation, ensuring investor security. Repatriation Rights: Allows foreign investors to freely repatriate profits, dividends, and capital through authorised channels. Pioneer Status: NIPC administers pioneer status tax holiday for qualifying industries. One-Stop Shop: Mandates NIPC to provide a single facilitation point for all investment-related approvals.

Current Status

Rollout Stage: Active Coverage: Nationwide, all investment sectors Beneficiaries: Foreign and domestic investors; Nigerian economy Funding: Federal Government appropriations

How to Access

Foreign investors must register their business in Nigeria through CAC Apply for NIPC registration as a foreign investor Pioneer status applications submitted to NIPC Application method: Register at https://www.nipc.gov.ng

Important Terms

Foreign investors are entitled to 100% ownership in most sectors Certain sectors have restricted or prohibited foreign ownership Pioneer status is time-limited and subject to conditions

Impact & Metrics

Nigeria consistently ranks among the top FDI destinations in Africa, with NIPC facilitating billions in annual foreign investment.

Official Resources

Website: https://www.nipc.gov.ng Contact: Nigerian Investment Promotion Commission (NIPC)

Legal Framework

Constitution of the Federal Republic of Nigeria 1999; Companies and Allied Matters Act; Foreign Exchange (Monitoring and Miscellaneous Provisions) Act; Investment and Securities Act; Finance Act; Nigerian Export Promotion Council Act