Nigerian Investment Promotion Commission

The Nigerian Investment Promotion Commission

The Nigerian Investment Promotion Commission (NIPC) is a Federal Government Agency established by the NIPC Act N0. 16 of 1995 to promote, co-ordinate and monitor all investments in Nigeria.

NIPC is headed by Yewande Sadiku as the Executive Secretary/CEO of NIPC. She is a banking and financial expert with over 23 years of experience. Ms Sadiku has handled projects for clients in nearly every sector of the Nigerian economy and contributed to the development of the Capital Markets in Nigeria.

NIPC ‘s objective is mainly to promote investments in Nigeria and coordinate the following functions:

* Be the agency of the Federal Government to co-ordinate and monitor all investment promotion activities to which this Act applies;

* Initiate and support measures which shall enhance the investment climate in Nigeria for both Nigerian and non- Nigerian investors;

* Promote investments in and outside Nigeria through effective promotional means;

* Collect, collate, analyze and disseminate information about investment opportunities and sources of investment capital, and advise on request, the availability, choice or suitability of partners in joint-venture projects;

* Register and keep records of enterprises to which this Act applies;

* Identify specific projects and invite interested investors for participation in those projects;

* Initiate, organize and participate in promotional activities such as exhibitions, conferences and seminars for the stimulation of investments;

* Maintain liaison between investors and Ministries, Government Departments and Agencies, institutional lenders and other authorities concerned with investments;

* Provide and disseminate up-to-date information on incentives available to investors;

* Assist incoming and existing investors by providing support services;

* Evaluate the impact of the Commission in investments in Nigeria and make appropriate recommendations;

* Advise the Federal Government on policy matters including fiscal measures designed to promote the industrialization of Nigeria or the general development of the economy; and

* Perform such other functions as are supplementary or incidental to the attainment of the objectives of the Act.

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How to Invest for Foreigners:

According to Section 54 of the Companies and Allied Matters Act (CAMA) Act 1 of 1990, all foreign companies are required to incorporate a local company in Nigeria before commencing business.

The NIPC Act of 1995 makes provision 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.

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 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.

Please visit www.nipc.gov.ng for more details.