Investing in Nigeria
There are over 2000 industrial establishments in the country. Among these are a giant oil industry, Iron complexes, steel rolling mills, pharmaceutical industries, food processing and car assembling. Government economic policy favours and places priority on greater investment in agricultural production and manufacturing and exports of production, abundantly skilled and versatile human resources and access to a vast local market of over 170 million people and beyond in the sub-region.
|Areas for Investment|
|Textile & Garments||Electrical & Electronics|
|Food Processing||Wood Products & Furniture|
|Plastics & Rubber Products||Fertilizer & Petroleum Plants|
|Agricultural Farms & Processing||Steel & Aluminum|
|Automobile Assembling & Automotive components||Oil & Gas|
|Bio-fuels||Recycling of products|
|Cosmetics & Chemical Products||Leather and Handicrafts Products|
|Logistics & Warehousing services||Pharmaceuticals|
|Printing Materials & Office Equipment||Machinery, Equipments & Metal Products|
|Ship Building & Repairs||Mining|
|Power generation & supply||Estate Development and more!!!|
The Nigerian Export Processing Zones Authority
Nigeria's big investment story is magnified even further by the Nigerian Export Processing Zones Authority. It is a Federal Government Agency under the supervision of the Federal Ministry of Industry, Trade & Investment and was established in 1992 following the enactment of the Nigeria Export Processing Zones Act 63, of 1992. The Agency is responsible for promoting and facilitating local and international investments into licensed Free Zones in Nigeria.
The Free Zone scheme was set up to strategically improve the investment climate by stimulating export oriented business activities through strengthening strategic national economic policies, streamlining administrative approval processes and providing a one-stop-shop service for businesses both within and outside Nigeria.
Pursuant to the vibrant transformative economic programmes of the Federal Government, the activities of the Authority have been strengthened and this has led to the establishment of 34 Free Zones spread across the country. Some of the Zones cater for a specific area of economic enterprise while others are more general in nature. There are currently over 300 licenced Free Zone enterprises operating in the various Zones across the country.
Since the inception of the scheme, Nigeria's economy has witnessed tremendous patronage and steady growth through FDI inflow and revitalisation of local industries. Locating in any Free Zone in Nigeria automatically confers upon the investor certain advantages, benefits and incentives which have been strategically designed by the Federal Government of Nigeria to create a business-friendly environment for the investor and to be competitive.
Benefits of Investing in Nigeria Free Zones
- Access to the Nigerian consumer market which is by far the largest consumer market in Africa with approximately 160 million people.
- Nigeria has an excellent location from which to export to the rest of Africa, the Middle East, Europe, and the Americas.
- Abundant supply of human and material resources.
- Nigeria enjoys several preferential trade arrangements such as ECOWAS, AGOA, WTO, GSTP, OPEC, D-8 etc
For more details, visit the official website of NEPZA