Nigerian Investment Promotion Commission Act (Repeal and Re-enactment) Bill

A Bill repeals the outdated NIPC Act and replaces it with a modern law to promote and facilitate investment. It streamlines business registration and expands investment guarantees for both foreign and domestic investors. The goal is to significantly improve Nigeria's investment climate and attract substantial foreign direct investment.

Nigerian Investment Promotion Commission Act (Repeal and Re-enactment) Bill Policy Overview

What Is This Policy?

A bill to repeal and replace the outdated NIPC Act with a modern investment promotion and facilitation law that significantly improves Nigeria's investment climate, streamlines business registration, expands investment guarantees, and positions Nigeria as the top destination for FDI in Africa.

Who Does It Target?

Foreign and domestic investors in all sectors of the Nigerian economy Nigerian Investment Promotion Commission (NIPC) and One-Stop Investment Centre Federal and state government ministries with investment promotion roles Business associations, chambers of commerce, and investment advisory bodies

What Does It Aim to Achieve?

Attract $100 billion in cumulative FDI to Nigeria by 2030 through a dramatically improved investment framework Reduce business registration and investment approval timelines to 24 hours through digital reform Provide stronger investment protection guarantees including dispute resolution and expropriation compensation Empower NIPC as a genuine one-stop centre with authority over all investment approvals

Key Features

Current Status

Funding: NIPC self-funding through registration fees and federal appropriation

How to Access

Investors register investment through the NIPC One-Stop Investment Centre. Requirements: Company registration with CAC (domestic) or Letter of Intent (foreign) Business plan and investment value documentation Sector-specific regulatory clearances (facilitated by NIPC) Application method: NIPC One-Stop Centre: www.nipc.gov.ng | Abuja HQ and zonal offices

Important Terms

All investments registered with NIPC entitled to full repatriation of profits and capital Government cannot nationalise registered investments without prior notice and full compensation Investment incentives (tax holidays, pioneer status) accessed through NIPC one-stop process

Impact & Metrics

Nigeria attracted $3.3 billion in FDI in 2024, far below its potential; the re-enacted NIPC Act targets a 10x increase to $30 billion annually by 2030 through a transformed investment climate.

Official Resources

Website: www.nipc.gov.ng Contact: NIPC — [email protected] | Tel: 09-461-8527 Federal Republic of Nigeria — Policy Summary Document | March 2026

Legal Framework

The Nigerian Investment Promotion Commission Act (Repeal and Re-enactment) Bill would operate under the Nigerian Investment Promotion Commission Act 1995 (being repealed), the Companies and Allied Matters Act 2020, and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act. It aligns with the Industrial Development (Income Tax Relief) Act, the Nigeria Startup Act 2022, and Nigeria's bilateral investment treaties and obligations under the World Trade Organization Agreement on Trade-Related Investment Measures (TRIMs).