MISSION of Lekki Free Trade Zone:
To develop an offshore economic growth zone,
attract foreign investments,
promote export,
create job opportunities,
minimize capital flight and
establish a one stop global business haven.
Sunday, 26 June 2016
OBJECTIVES of Lekki Free Trade Zone in Nigeria 2347051455404
OBJECTIVES OF LEKKI FREE ZONE
To stimulate the Nigerian economy.
To create an global economic haven.
To diversify of the Lagos State’s revenue base.
To create and encourage integration with foreign partners.
To ensure effective exploration of the country’s abundant resources.
To generate employment opportunities and skills acquisition
To stimulate the Nigerian economy.
To create an global economic haven.
To diversify of the Lagos State’s revenue base.
To create and encourage integration with foreign partners.
To ensure effective exploration of the country’s abundant resources.
To generate employment opportunities and skills acquisition
Nigeria is part of the Next Eleven N-11. the eleven countries identified by Goldman Sachs investment bank 2347087499733
The Reasons for Investment Opportunities in Nigeria are validations of the investment potentials of Nigeria.
Nigeria made the ‘N-11’ list of countries.
The Next Eleven (known also by the numeronym N-11)
are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam –
identified by Goldman Sachs investment bank and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICs, among the world's largest economies in the 21st century!
Nigeria made the ‘N-11’ list of countries.
The Next Eleven (known also by the numeronym N-11)
are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam –
identified by Goldman Sachs investment bank and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICs, among the world's largest economies in the 21st century!
Nigeria is Located in West Africa and occupies 923768sq km of Land. 2348120605856
Strategic Location – hub of the West and Central African Markets
Nigeria is located in West Africa and occupies 923,768 square kilometers of land with over 180 million people which also stretch into the growing West African sub-region of over 350 million people.
Also, Nigeria is strategically located as Africa’s business hub and can naturally connect to Europe, the Americas and Asia in relatively short time - in an average of eight hours.
This is the shorter than most African countries. And in some of the countries, Nigeria connects them in just six hours.
This relative short travel time should attract a lot of travelers into Nigeria for business, leisure or connect flights to other destination.
Nigeria is located in West Africa and occupies 923,768 square kilometers of land with over 180 million people which also stretch into the growing West African sub-region of over 350 million people.
Also, Nigeria is strategically located as Africa’s business hub and can naturally connect to Europe, the Americas and Asia in relatively short time - in an average of eight hours.
This is the shorter than most African countries. And in some of the countries, Nigeria connects them in just six hours.
This relative short travel time should attract a lot of travelers into Nigeria for business, leisure or connect flights to other destination.
NIPC Act replaced previous acts on foreign investment in Nigeria 2348120605856
Legislation
Previously, FDI in Nigeria was obstructed by minimum capital requirements and indigenous ownership thresholds (of up to 40 per cent in some cases).
The NIPC Act replaced previous acts on foreign investment in Nigeria and essentially removed restrictions on foreign ownership of business in Nigeria, except for in limited circumstances.
100% foreign ownership of Nigerian businesses is possible except for within the oil and gas industry, where investment is limited to existing joint ventures or new production sharing agreements and the Nigerian Local Content Act passed in 2010 seeks to promote local participation in the industry.
The NIPC Act also introduced legislation to prevent businesses from being nationalised or expropriated by the Nigerian government and protection against an investor being forced to surrender his interest in the business.
Previously, FDI in Nigeria was obstructed by minimum capital requirements and indigenous ownership thresholds (of up to 40 per cent in some cases).
The NIPC Act replaced previous acts on foreign investment in Nigeria and essentially removed restrictions on foreign ownership of business in Nigeria, except for in limited circumstances.
100% foreign ownership of Nigerian businesses is possible except for within the oil and gas industry, where investment is limited to existing joint ventures or new production sharing agreements and the Nigerian Local Content Act passed in 2010 seeks to promote local participation in the industry.
The NIPC Act also introduced legislation to prevent businesses from being nationalised or expropriated by the Nigerian government and protection against an investor being forced to surrender his interest in the business.
Highest Return of Investment in Lekki Free Trade Zone in Africa 2347087499733
Dynamic private sector, which has assured greater responsibilities under the new economic environment –privatization of government owned enterprises. Presently, Return on Investment (RoI) ranges from 35% - 45% making it one of the most profitable investment destinations in the world.
Exchange control regulations have been liberalized to ensure free flow of international finance. Guarantee of unconditional transferability/repatriation of profit and dividends net taxes through an authorized dealer, in freely convertible currency.
Exchange control regulations have been liberalized to ensure free flow of international finance. Guarantee of unconditional transferability/repatriation of profit and dividends net taxes through an authorized dealer, in freely convertible currency.
Friday, 24 June 2016
Highest Returns on investment in Nigeria Africa 2347087499733
Highest Return on Investment (ROI) (35%-45%) in Africa
Dynamic private sector, which has assured greater responsibilities under the new economic environment –privatization of government owned enterprises. Presently, Return on Investment (RoI) ranges from 35% - 45% making it one of the most profitable investment destinations in the world.
Exchange control regulations have been liberalized to ensure free flow of international finance. Guarantee of unconditional transferability/repatriation of profit and dividends net taxes through an authorized dealer, in freely convertible currency.
Dynamic private sector, which has assured greater responsibilities under the new economic environment –privatization of government owned enterprises. Presently, Return on Investment (RoI) ranges from 35% - 45% making it one of the most profitable investment destinations in the world.
Exchange control regulations have been liberalized to ensure free flow of international finance. Guarantee of unconditional transferability/repatriation of profit and dividends net taxes through an authorized dealer, in freely convertible currency.
Policy Environment Supportive of Private Entrepreneurship in Lekki Free Zone Nigeria 2347087499733
Policy Environment Supportive of Private Entrepreneurship in Lekki Free Trade Zone
Nigeria's current industrial policy thrust is anchored on a guided dc-regulation of the economy and Government's dis-engagement from activities which are private-sector oriented, leaving Government to play the role of facilitator, concentrating on the provision of incentives policy and infrastructure that are necessary to enhance the private sector's role as the engine of growth.
The industrial policy is intended to:
Generate productive employment and raise productivity.Increase export of locally manufactured goods.
Create a wider geographical dispersal of industries.Improve the technological skills and capability available in the country.Increase the local content of industrial output by looking inward for the supply of basic and intermediate inputs.Increase private sector participation.
Nigeria's current industrial policy thrust is anchored on a guided dc-regulation of the economy and Government's dis-engagement from activities which are private-sector oriented, leaving Government to play the role of facilitator, concentrating on the provision of incentives policy and infrastructure that are necessary to enhance the private sector's role as the engine of growth.
The industrial policy is intended to:
Generate productive employment and raise productivity.Increase export of locally manufactured goods.
Create a wider geographical dispersal of industries.Improve the technological skills and capability available in the country.Increase the local content of industrial output by looking inward for the supply of basic and intermediate inputs.Increase private sector participation.
Tax Holiday Investment Incentives is available to People. 2347051455404
Investment Incentives
The Federal Government of Nigeria offer a number of investment incentives intended to stimulate foreign direct and internal investment. Some of these incentives are available across all sectors whilst others are industry specific.
The Companies Income Tax Act has been amended in a bid to encourage existing and potential investors and entrepreneurs.Industrial organisations are encouraged to engage in research and development (R & D) for the enhancement of their processes and products. Up to 120% of expenses on R & D are tax deductible provided that such R & D activities are carried out in Nigeria and are connected with businesses to which allowances are granted. The result of such research could be patented and protected in accordance with internationally accepted industrial property rights.A comprehensive package of incentives (e.g. 3-5years tax holiday for pioneer activities) put in place to encourage
The Federal Government of Nigeria offer a number of investment incentives intended to stimulate foreign direct and internal investment. Some of these incentives are available across all sectors whilst others are industry specific.
The Companies Income Tax Act has been amended in a bid to encourage existing and potential investors and entrepreneurs.Industrial organisations are encouraged to engage in research and development (R & D) for the enhancement of their processes and products. Up to 120% of expenses on R & D are tax deductible provided that such R & D activities are carried out in Nigeria and are connected with businesses to which allowances are granted. The result of such research could be patented and protected in accordance with internationally accepted industrial property rights.A comprehensive package of incentives (e.g. 3-5years tax holiday for pioneer activities) put in place to encourage
Abundant Natural Resources is available in Nigeria 2347051455404
Abundant Natural Resources is available in Nigeria.
Nigeria is endowed with significant agricultural, mineral, marine and forest resources that are needed for the production of goods and execution of services. Its multiple vegetation zones, plentiful rain, surface water and underground water resources and moderate climatic extremes, allow for production of diverse food and cash crops.
The main cash crops are cocoa, cotton, groundnuts, oil palm and rubber. Extractions from these for export and local industrial use include cocoa flour and butter, rubber crumb, vegetable oil, cotton fibre and yarn. The rain forests have been well exploited for timber and wood products of exotic and popular species.
Oil and Gas, by value, are the most important minerals; often extracted by foreign multinationals that bring in the much needed capital and knowledge. They are exploited and produced in the Niger Delta basin and off-shore on the continental shelf and in the deep-sea of the territorial waters.
Nevertheless, there are significant non-oil mineral deposits on land many of which have been identified and evaluated: coal, iron ore, gypsum, kaolin, phosphates, lime -stone, marble, columbine, baryte and gold.
Nigeria is endowed with significant agricultural, mineral, marine and forest resources that are needed for the production of goods and execution of services. Its multiple vegetation zones, plentiful rain, surface water and underground water resources and moderate climatic extremes, allow for production of diverse food and cash crops.
The main cash crops are cocoa, cotton, groundnuts, oil palm and rubber. Extractions from these for export and local industrial use include cocoa flour and butter, rubber crumb, vegetable oil, cotton fibre and yarn. The rain forests have been well exploited for timber and wood products of exotic and popular species.
Oil and Gas, by value, are the most important minerals; often extracted by foreign multinationals that bring in the much needed capital and knowledge. They are exploited and produced in the Niger Delta basin and off-shore on the continental shelf and in the deep-sea of the territorial waters.
Nevertheless, there are significant non-oil mineral deposits on land many of which have been identified and evaluated: coal, iron ore, gypsum, kaolin, phosphates, lime -stone, marble, columbine, baryte and gold.
8 Key Reasons why Ibeju Lekki Free Trade Zone is good. Lagos Nigeria 2347051455404
There are numerous reasons why Nigeria is increasingly viewed as a viable and attractive investment destination in the world. As they say, numbers don’t lie, below are some numbers to quickly give you an overview of the investment potentials of Nigeria.
Nominal GDP = $568.5 Billion (2014) The Biggest Economy in AfricaGDP growth rate = GDP per Capital = FDI Inflow = $3.64 Billion (2015)External Reserve = $27.87 Billion (March, 2016)Inflation Rate = Marginal Revenue Product [MPR] = Unemployment Rate = Debt Stock = $55.58 Billion (June, 2015) Domestic: $44.86 billion, External:$10.72 billionDebt to GDP ratio =
Certain key drivers are responsible for making Nigeria an attractive investment destination; this article discusses 8 of such key Drivers of Investment Opportunities in Nigeria.
8 Key Drivers of Investment Opportunities in Nigeria
1. Abundant Natural Resources
Nigeria is endowed with significant agricultural, mineral, marine and forest resources that are needed for the production of goods and execution of services. Its multiple vegetation zones, plentiful rain, surface water and underground water resources and moderate climatic extremes, allow for production of diverse food and cash crops.
The main cash crops are cocoa, cotton, groundnuts, oil palm and rubber. Extractions from these for export and local industrial use include cocoa flour and butter, rubber crumb, vegetable oil, cotton fibre and yarn. The rain forests have been well exploited for timber and wood products of exotic and popular species.
Oil and Gas, by value, are the most important minerals; often extracted by foreign multinationals that bring in the much needed capital and knowledge. They are exploited and produced in the Niger Delta basin and off-shore on the continental shelf and in the deep-sea of the territorial waters.
Nevertheless, there are significant non-oil mineral deposits on land many of which have been identified and evaluated: coal, iron ore, gypsum, kaolin, phosphates, lime -stone, marble, columbine, baryte and gold.
2.
The Federal Government of Nigeria offer a number of investment incentives intended to stimulate foreign direct and internal investment. Some of these incentives are available across all sectors whilst others are industry specific.
The Companies Income Tax Act has been amended in a bid to encourage existing and potential investors and entrepreneurs.Industrial organisations are encouraged to engage in research and development (R & D) for the enhancement of their processes and products. Up to 120% of expenses on R & D are tax deductible provided that such R & D activities are carried out in Nigeria and are connected with businesses to which allowances are granted. The result of such research could be patented and protected in accordance with internationally accepted industrial property rights.A comprehensive package of incentives (e.g. 3-5years tax holiday for pioneer activities) put in place to encourage investment. Click here for more
3. Policy Environment Supportive of Private Entrepreneurship
Nigeria's current industrial policy thrust is anchored on a guided dc-regulation of the economy and Government's dis-engagement from activities which are private-sector oriented, leaving Government to play the role of facilitator, concentrating on the provision of incentives policy and infrastructure that are necessary to enhance the private sector's role as the engine of growth.
The industrial policy is intended to:
Generate productive employment and raise productivity.Increase export of locally manufactured goods.Create a wider geographical dispersal of industries.Improve the technological skills and capability available in the country.Increase the local content of industrial output by looking inward for the supply of basic and intermediate inputs.Increase private sector participation.
4.
Well developed banking and financial sector made up of 22 deposit money banks, 5 discount houses, over 700 microfinance banks, 101 primary mortgage banks, 108 finance companies, 1,621 bureaux de change operators and 5 development finance institutions. Sufficient access to working capital and other credit facilities.
5. Trainable, Resourceful and Cost Effective Workforce with 60% as Youths
Nigeria has an abundance of skilled labour at an economic cost, resulting in low production costs, among the lowest in Africa. Due to a massive expansion in the education sector in the last two decades, the coloration and quality of the Nigerian work force has changed to include a large corps of highly trained personnel in mechanical, civil, electrical, electronics, chemical and petroleum engineering and biotechnics.
Disciplines, apart from pure sciences, engineering and technologies, include social sciences, business studies (management, banking and finance), architecture, environment and urban management studies. Also, a sizeable Nigerian population has been and is being trained outside the country, in some of the best colleges in the United States, Canada, United Kingdom, Germany, France, Russia, Japan and China.
Every year, about 2,000 of these Nigerians return home to seek employment or accommodation within the economy. For the less skilled and unskilled labour, the country depends on the primary and secondary school systems whose annual enrolments are over 3.5 million and 1.5 million, respectively.
6.
Dynamic private sector, which has assured greater responsibilities under the new economic environment –privatization of government owned enterprises. Presently, Return on Investment (RoI) ranges from 35% - 45% making it one of the most profitable investment destinations in the world.
Exchange control regulations have been liberalized to ensure free flow of international finance. Guarantee of unconditional transferability/repatriation of profit and dividends net taxes through an authorized dealer, in freely convertible currency.
7.
Previously, FDI in Nigeria was obstructed by minimum capital requirements and indigenous ownership thresholds (of up to 40 per cent in some cases). The NIPC Act replaced previous acts on foreign investment in Nigeria and essentially removed restrictions on foreign ownership of business in Nigeria, except for in limited circumstances.
100% foreign ownership of Nigerian businesses is possible except for within the oil and gas industry, where investment is limited to existing joint ventures or new production sharing agreements and the Nigerian Local Content Act passed in 2010 seeks to promote local participation in the industry.
The NIPC Act also introduced legislation to prevent businesses from being nationalised or expropriated by the Nigerian government and protection against an investor being forced to surrender his interest in the business.
8. Strategic Location – hub of the West and Central African Markets
Nigeria is located in West Africa and occupies 923,768 square kilometers of land with over 180 million people which also stretch into the growing West African sub-region of over 350 million people. Also, Nigeria is strategically located as Africa’s business hub and can naturally connect to Europe, the Americas and Asia in relatively short time - in an average of eight hours.
This is the shorter than most African countries. And in some of the countries, Nigeria connects them in just six hours. This relative short travel time should attract a lot of travelers into Nigeria for business, leisure or connect flights to other destination.
Conclusion
The 8 key drivers of Investment Opportunities in Nigeria, as discussed above, are validations of the investment potentials of Nigeria. No wonder we made the ‘N-11’ list of countries. The Next Eleven (known also by the numeronym N-11) are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam – identified by Goldman Sachs investment bank and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICs, among the world's largest economies in the 21st century!
Nominal GDP = $568.5 Billion (2014) The Biggest Economy in AfricaGDP growth rate = GDP per Capital = FDI Inflow = $3.64 Billion (2015)External Reserve = $27.87 Billion (March, 2016)Inflation Rate = Marginal Revenue Product [MPR] = Unemployment Rate = Debt Stock = $55.58 Billion (June, 2015) Domestic: $44.86 billion, External:$10.72 billionDebt to GDP ratio =
Certain key drivers are responsible for making Nigeria an attractive investment destination; this article discusses 8 of such key Drivers of Investment Opportunities in Nigeria.
8 Key Drivers of Investment Opportunities in Nigeria
1. Abundant Natural Resources
Nigeria is endowed with significant agricultural, mineral, marine and forest resources that are needed for the production of goods and execution of services. Its multiple vegetation zones, plentiful rain, surface water and underground water resources and moderate climatic extremes, allow for production of diverse food and cash crops.
The main cash crops are cocoa, cotton, groundnuts, oil palm and rubber. Extractions from these for export and local industrial use include cocoa flour and butter, rubber crumb, vegetable oil, cotton fibre and yarn. The rain forests have been well exploited for timber and wood products of exotic and popular species.
Oil and Gas, by value, are the most important minerals; often extracted by foreign multinationals that bring in the much needed capital and knowledge. They are exploited and produced in the Niger Delta basin and off-shore on the continental shelf and in the deep-sea of the territorial waters.
Nevertheless, there are significant non-oil mineral deposits on land many of which have been identified and evaluated: coal, iron ore, gypsum, kaolin, phosphates, lime -stone, marble, columbine, baryte and gold.
2.
The Federal Government of Nigeria offer a number of investment incentives intended to stimulate foreign direct and internal investment. Some of these incentives are available across all sectors whilst others are industry specific.
The Companies Income Tax Act has been amended in a bid to encourage existing and potential investors and entrepreneurs.Industrial organisations are encouraged to engage in research and development (R & D) for the enhancement of their processes and products. Up to 120% of expenses on R & D are tax deductible provided that such R & D activities are carried out in Nigeria and are connected with businesses to which allowances are granted. The result of such research could be patented and protected in accordance with internationally accepted industrial property rights.A comprehensive package of incentives (e.g. 3-5years tax holiday for pioneer activities) put in place to encourage investment. Click here for more
3. Policy Environment Supportive of Private Entrepreneurship
Nigeria's current industrial policy thrust is anchored on a guided dc-regulation of the economy and Government's dis-engagement from activities which are private-sector oriented, leaving Government to play the role of facilitator, concentrating on the provision of incentives policy and infrastructure that are necessary to enhance the private sector's role as the engine of growth.
The industrial policy is intended to:
Generate productive employment and raise productivity.Increase export of locally manufactured goods.Create a wider geographical dispersal of industries.Improve the technological skills and capability available in the country.Increase the local content of industrial output by looking inward for the supply of basic and intermediate inputs.Increase private sector participation.
4.
Well developed banking and financial sector made up of 22 deposit money banks, 5 discount houses, over 700 microfinance banks, 101 primary mortgage banks, 108 finance companies, 1,621 bureaux de change operators and 5 development finance institutions. Sufficient access to working capital and other credit facilities.
5. Trainable, Resourceful and Cost Effective Workforce with 60% as Youths
Nigeria has an abundance of skilled labour at an economic cost, resulting in low production costs, among the lowest in Africa. Due to a massive expansion in the education sector in the last two decades, the coloration and quality of the Nigerian work force has changed to include a large corps of highly trained personnel in mechanical, civil, electrical, electronics, chemical and petroleum engineering and biotechnics.
Disciplines, apart from pure sciences, engineering and technologies, include social sciences, business studies (management, banking and finance), architecture, environment and urban management studies. Also, a sizeable Nigerian population has been and is being trained outside the country, in some of the best colleges in the United States, Canada, United Kingdom, Germany, France, Russia, Japan and China.
Every year, about 2,000 of these Nigerians return home to seek employment or accommodation within the economy. For the less skilled and unskilled labour, the country depends on the primary and secondary school systems whose annual enrolments are over 3.5 million and 1.5 million, respectively.
6.
Dynamic private sector, which has assured greater responsibilities under the new economic environment –privatization of government owned enterprises. Presently, Return on Investment (RoI) ranges from 35% - 45% making it one of the most profitable investment destinations in the world.
Exchange control regulations have been liberalized to ensure free flow of international finance. Guarantee of unconditional transferability/repatriation of profit and dividends net taxes through an authorized dealer, in freely convertible currency.
7.
Previously, FDI in Nigeria was obstructed by minimum capital requirements and indigenous ownership thresholds (of up to 40 per cent in some cases). The NIPC Act replaced previous acts on foreign investment in Nigeria and essentially removed restrictions on foreign ownership of business in Nigeria, except for in limited circumstances.
100% foreign ownership of Nigerian businesses is possible except for within the oil and gas industry, where investment is limited to existing joint ventures or new production sharing agreements and the Nigerian Local Content Act passed in 2010 seeks to promote local participation in the industry.
The NIPC Act also introduced legislation to prevent businesses from being nationalised or expropriated by the Nigerian government and protection against an investor being forced to surrender his interest in the business.
8. Strategic Location – hub of the West and Central African Markets
Nigeria is located in West Africa and occupies 923,768 square kilometers of land with over 180 million people which also stretch into the growing West African sub-region of over 350 million people. Also, Nigeria is strategically located as Africa’s business hub and can naturally connect to Europe, the Americas and Asia in relatively short time - in an average of eight hours.
This is the shorter than most African countries. And in some of the countries, Nigeria connects them in just six hours. This relative short travel time should attract a lot of travelers into Nigeria for business, leisure or connect flights to other destination.
Conclusion
The 8 key drivers of Investment Opportunities in Nigeria, as discussed above, are validations of the investment potentials of Nigeria. No wonder we made the ‘N-11’ list of countries. The Next Eleven (known also by the numeronym N-11) are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam – identified by Goldman Sachs investment bank and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICs, among the world's largest economies in the 21st century!
Nigeria is a Viable and Attractive Investment Destination in the World. 2348120605856
There are numerous reasons why Nigeria is increasingly viewed as a viable and attractive investment destination in the world. As they say, numbers don’t lie, below are some numbers to quickly give you an overview of the investment potentials of Nigeria.
Nominal GDP = $568.5 Billion (2014) The Biggest Economy in AfricaGDP growth rate = GDP per Capital = FDI Inflow = $3.64 Billion (2015)External Reserve = $27.87 Billion (March, 2016)Inflation Rate = Marginal Revenue Product [MPR] = Unemployment Rate = Debt Stock = $55.58 Billion (June, 2015) Domestic: $44.86 billion, External:$10.72 billionDebt to GDP ratio =
Certain key drivers are responsible for making Nigeria an attractive investment destination; this article discusses 8 of such key Drivers of Investment Opportunities in Nigeria.
8 Key Drivers of Investment Opportunities in Nigeria
1. Abundant Natural Resources
Nigeria is endowed with significant agricultural, mineral, marine and forest resources that are needed for the production of goods and execution of services. Its multiple vegetation zones, plentiful rain, surface water and underground water resources and moderate climatic extremes, allow for production of diverse food and cash crops.
The main cash crops are cocoa, cotton, groundnuts, oil palm and rubber. Extractions from these for export and local industrial use include cocoa flour and butter, rubber crumb, vegetable oil, cotton fibre and yarn. The rain forests have been well exploited for timber and wood products of exotic and popular species.
Oil and Gas, by value, are the most important minerals; often extracted by foreign multinationals that bring in the much needed capital and knowledge. They are exploited and produced in the Niger Delta basin and off-shore on the continental shelf and in the deep-sea of the territorial waters.
Nevertheless, there are significant non-oil mineral deposits on land many of which have been identified and evaluated: coal, iron ore, gypsum, kaolin, phosphates, lime -stone, marble, columbine, baryte and gold.
2.
The Federal Government of Nigeria offer a number of investment incentives intended to stimulate foreign direct and internal investment. Some of these incentives are available across all sectors whilst others are industry specific.
The Companies Income Tax Act has been amended in a bid to encourage existing and potential investors and entrepreneurs.Industrial organisations are encouraged to engage in research and development (R & D) for the enhancement of their processes and products. Up to 120% of expenses on R & D are tax deductible provided that such R & D activities are carried out in Nigeria and are connected with businesses to which allowances are granted. The result of such research could be patented and protected in accordance with internationally accepted industrial property rights.A comprehensive package of incentives (e.g. 3-5years tax holiday for pioneer activities) put in place to encourage investment. Click here for more
3. Policy Environment Supportive of Private Entrepreneurship
Nigeria's current industrial policy thrust is anchored on a guided dc-regulation of the economy and Government's dis-engagement from activities which are private-sector oriented, leaving Government to play the role of facilitator, concentrating on the provision of incentives policy and infrastructure that are necessary to enhance the private sector's role as the engine of growth.
The industrial policy is intended to:
Generate productive employment and raise productivity.Increase export of locally manufactured goods.Create a wider geographical dispersal of industries.Improve the technological skills and capability available in the country.Increase the local content of industrial output by looking inward for the supply of basic and intermediate inputs.Increase private sector participation.
4.
Well developed banking and financial sector made up of 22 deposit money banks, 5 discount houses, over 700 microfinance banks, 101 primary mortgage banks, 108 finance companies, 1,621 bureaux de change operators and 5 development finance institutions. Sufficient access to working capital and other credit facilities.
5. Trainable, Resourceful and Cost Effective Workforce with 60% as Youths
Nigeria has an abundance of skilled labour at an economic cost, resulting in low production costs, among the lowest in Africa. Due to a massive expansion in the education sector in the last two decades, the coloration and quality of the Nigerian work force has changed to include a large corps of highly trained personnel in mechanical, civil, electrical, electronics, chemical and petroleum engineering and biotechnics.
Disciplines, apart from pure sciences, engineering and technologies, include social sciences, business studies (management, banking and finance), architecture, environment and urban management studies. Also, a sizeable Nigerian population has been and is being trained outside the country, in some of the best colleges in the United States, Canada, United Kingdom, Germany, France, Russia, Japan and China.
Every year, about 2,000 of these Nigerians return home to seek employment or accommodation within the economy. For the less skilled and unskilled labour, the country depends on the primary and secondary school systems whose annual enrolments are over 3.5 million and 1.5 million, respectively.
6. Dynamic private sector, which has assured greater responsibilities under the new economic environment –privatization of government owned enterprises. Presently, Return on Investment (RoI) ranges from 35% - 45% making it one of the most profitable investment destinations in the world.
Exchange control regulations have been liberalized to ensure free flow of international finance. Guarantee of unconditional transferability/repatriation of profit and dividends net taxes through an authorized dealer, in freely convertible currency.
7. Previously, FDI in Nigeria was obstructed by minimum capital requirements and indigenous ownership thresholds (of up to 40 per cent in some cases). The NIPC Act replaced previous acts on foreign investment in Nigeria and essentially removed restrictions on foreign ownership of business in Nigeria, except for in limited circumstances.
100% foreign ownership of Nigerian businesses is possible except for within the oil and gas industry, where investment is limited to existing joint ventures or new production sharing agreements and the Nigerian Local Content Act passed in 2010 seeks to promote local participation in the industry.
The NIPC Act also introduced legislation to prevent businesses from being nationalised or expropriated by the Nigerian government and protection against an investor being forced to surrender his interest in the business.
8. Strategic Location – hub of the West and Central African Markets
Nigeria is located in West Africa and occupies 923,768 square kilometers of land with over 180 million people which also stretch into the growing West African sub-region of over 350 million people. Also, Nigeria is strategically located as Africa’s business hub and can naturally connect to Europe, the Americas and Asia in relatively short time - in an average of eight hours.
This is the shorter than most African countries. And in some of the countries, Nigeria connects them in just six hours. This relative short travel time should attract a lot of travelers into Nigeria for business, leisure or connect flights to other destination.
Conclusion
The 8 key drivers of Investment Opportunities in Nigeria, as discussed above, are validations of the investment potentials of Nigeria. No wonder we made the ‘N-11’ list of countries. The Next Eleven (known also by the numeronym N-11) are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam – identified by Goldman Sachs investment bank and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICs, among the world's largest economies in the 21st century!
Nominal GDP = $568.5 Billion (2014) The Biggest Economy in AfricaGDP growth rate = GDP per Capital = FDI Inflow = $3.64 Billion (2015)External Reserve = $27.87 Billion (March, 2016)Inflation Rate = Marginal Revenue Product [MPR] = Unemployment Rate = Debt Stock = $55.58 Billion (June, 2015) Domestic: $44.86 billion, External:$10.72 billionDebt to GDP ratio =
Certain key drivers are responsible for making Nigeria an attractive investment destination; this article discusses 8 of such key Drivers of Investment Opportunities in Nigeria.
8 Key Drivers of Investment Opportunities in Nigeria
1. Abundant Natural Resources
Nigeria is endowed with significant agricultural, mineral, marine and forest resources that are needed for the production of goods and execution of services. Its multiple vegetation zones, plentiful rain, surface water and underground water resources and moderate climatic extremes, allow for production of diverse food and cash crops.
The main cash crops are cocoa, cotton, groundnuts, oil palm and rubber. Extractions from these for export and local industrial use include cocoa flour and butter, rubber crumb, vegetable oil, cotton fibre and yarn. The rain forests have been well exploited for timber and wood products of exotic and popular species.
Oil and Gas, by value, are the most important minerals; often extracted by foreign multinationals that bring in the much needed capital and knowledge. They are exploited and produced in the Niger Delta basin and off-shore on the continental shelf and in the deep-sea of the territorial waters.
Nevertheless, there are significant non-oil mineral deposits on land many of which have been identified and evaluated: coal, iron ore, gypsum, kaolin, phosphates, lime -stone, marble, columbine, baryte and gold.
2.
The Federal Government of Nigeria offer a number of investment incentives intended to stimulate foreign direct and internal investment. Some of these incentives are available across all sectors whilst others are industry specific.
The Companies Income Tax Act has been amended in a bid to encourage existing and potential investors and entrepreneurs.Industrial organisations are encouraged to engage in research and development (R & D) for the enhancement of their processes and products. Up to 120% of expenses on R & D are tax deductible provided that such R & D activities are carried out in Nigeria and are connected with businesses to which allowances are granted. The result of such research could be patented and protected in accordance with internationally accepted industrial property rights.A comprehensive package of incentives (e.g. 3-5years tax holiday for pioneer activities) put in place to encourage investment. Click here for more
3. Policy Environment Supportive of Private Entrepreneurship
Nigeria's current industrial policy thrust is anchored on a guided dc-regulation of the economy and Government's dis-engagement from activities which are private-sector oriented, leaving Government to play the role of facilitator, concentrating on the provision of incentives policy and infrastructure that are necessary to enhance the private sector's role as the engine of growth.
The industrial policy is intended to:
Generate productive employment and raise productivity.Increase export of locally manufactured goods.Create a wider geographical dispersal of industries.Improve the technological skills and capability available in the country.Increase the local content of industrial output by looking inward for the supply of basic and intermediate inputs.Increase private sector participation.
4.
Well developed banking and financial sector made up of 22 deposit money banks, 5 discount houses, over 700 microfinance banks, 101 primary mortgage banks, 108 finance companies, 1,621 bureaux de change operators and 5 development finance institutions. Sufficient access to working capital and other credit facilities.
5. Trainable, Resourceful and Cost Effective Workforce with 60% as Youths
Nigeria has an abundance of skilled labour at an economic cost, resulting in low production costs, among the lowest in Africa. Due to a massive expansion in the education sector in the last two decades, the coloration and quality of the Nigerian work force has changed to include a large corps of highly trained personnel in mechanical, civil, electrical, electronics, chemical and petroleum engineering and biotechnics.
Disciplines, apart from pure sciences, engineering and technologies, include social sciences, business studies (management, banking and finance), architecture, environment and urban management studies. Also, a sizeable Nigerian population has been and is being trained outside the country, in some of the best colleges in the United States, Canada, United Kingdom, Germany, France, Russia, Japan and China.
Every year, about 2,000 of these Nigerians return home to seek employment or accommodation within the economy. For the less skilled and unskilled labour, the country depends on the primary and secondary school systems whose annual enrolments are over 3.5 million and 1.5 million, respectively.
6. Dynamic private sector, which has assured greater responsibilities under the new economic environment –privatization of government owned enterprises. Presently, Return on Investment (RoI) ranges from 35% - 45% making it one of the most profitable investment destinations in the world.
Exchange control regulations have been liberalized to ensure free flow of international finance. Guarantee of unconditional transferability/repatriation of profit and dividends net taxes through an authorized dealer, in freely convertible currency.
7. Previously, FDI in Nigeria was obstructed by minimum capital requirements and indigenous ownership thresholds (of up to 40 per cent in some cases). The NIPC Act replaced previous acts on foreign investment in Nigeria and essentially removed restrictions on foreign ownership of business in Nigeria, except for in limited circumstances.
100% foreign ownership of Nigerian businesses is possible except for within the oil and gas industry, where investment is limited to existing joint ventures or new production sharing agreements and the Nigerian Local Content Act passed in 2010 seeks to promote local participation in the industry.
The NIPC Act also introduced legislation to prevent businesses from being nationalised or expropriated by the Nigerian government and protection against an investor being forced to surrender his interest in the business.
8. Strategic Location – hub of the West and Central African Markets
Nigeria is located in West Africa and occupies 923,768 square kilometers of land with over 180 million people which also stretch into the growing West African sub-region of over 350 million people. Also, Nigeria is strategically located as Africa’s business hub and can naturally connect to Europe, the Americas and Asia in relatively short time - in an average of eight hours.
This is the shorter than most African countries. And in some of the countries, Nigeria connects them in just six hours. This relative short travel time should attract a lot of travelers into Nigeria for business, leisure or connect flights to other destination.
Conclusion
The 8 key drivers of Investment Opportunities in Nigeria, as discussed above, are validations of the investment potentials of Nigeria. No wonder we made the ‘N-11’ list of countries. The Next Eleven (known also by the numeronym N-11) are the eleven countries – Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam – identified by Goldman Sachs investment bank and economist Jim O'Neill in a research paper as having a high potential of becoming, along with the BRICs, among the world's largest economies in the 21st century!
Businesses in Lekki Free Trade Zone. Lagos State Nigeria 2348120605856
XIYANGHarig Oil Supply and Trading Co.New Energy Services Company LtdPuma Energy LimitedSpog Petrochemicals LtdHONGYE CONSTRUCTION GROUP FZEPUMA ENERGY FZEYFK PHARMACEUTICALS FZENORTHWEST PETROLEUM & GAS FZESAMON PETROLEUM FZEHARIG OIL SUPPLY & TRADING FZEUNION PETROLEUM SERVICE FZECLAIRGOLD OIL & GAS ENGINEERING FZEIMAD OIL & GAS FZENOWAS OIL & ALLIED PRODUCTS FZEGIORGIO DREDGING OIL& GAS FZERANO OIL & GAS FZETANZILA PETROLEUM COMPANY FZEBEN-REUBENS (NIGERIA) FZEHAULAGE OIL & GAS FZEBELLBROOK INT'L FZEGRAND PETROLEUM AND CHEMICALS FZECHINA CENTURY HOUSING CORPORATION FZE HUAYI FURNITURE MANUFACTURING COMPANY FZEFAS ENERGY & NATURAL RESOURSES FZEHAPEL PETROLEUM & GAS FZEXIYANG DESIGN & CONSULTING FZERESOURCES BIKE FZEPLURAL OIL MARKETING FZESPOG PETROCHEMICALS FZEYOUCARE PHARMACEUTICAL ( AFRICA) FZEAG GLOBAL FZEASO SAVINGS & LOANS FZESKYE BANK FZESULPHURSTREAMS TERMINALLING COMPANY FZETEKNOCHEM STORAGE COMPANY FZECHINA GOLDEN TRIANGLE GROUP FZEE.O FABUNMI AND SONS FZESEA PETROLEUM AND GAS FZEWORLD WIDE INVESTMENT AND DEVELOPMENT FZEAJUBA NIGERIA FZEPMI FZEBARBEDOS OIL AND GAS SERVICES FZEPINNACLE OIL & GAS FZECRCC TRADING & LOGISTIC FZESHANGHAI TONGJI URBAN PLANNING & DESIGN INSTITUTE FZEZHONGSHENG GROUP NEW TECHNOLOGY BUILDING MATERIALS CO. FZELOVING HOME FURNISHINGS COMPANY FZECHINA SINGYE RENEWABLE ENERGY TECHNOLOGY (NIGERIA) FZEAOBO KEDI NIG.PHARMACEUTICAL FZE
Companies in the Lekki Free Trade Zone in Nigeria 2347051455404
XIYANG
Harig Oil Supply and Trading Co.
New Energy Services Company Ltd.
Puma Energy Limited.
Spog Petrochemicals Ltd.
HONGYE CONSTRUCTION GROUP FZE.
PUMA ENERGY FZE.
YFK PHARMACEUTICALS FZE.
NORTHWEST PETROLEUM & GAS FZE.
SAMON PETROLEUM FZE.
HARIG OIL SUPPLY & TRADING FZE.
UNION PETROLEUM SERVICE FZE.
CLAIRGOLD OIL & GAS ENGINEERING FZE.
IMAD OIL & GAS FZE.
NOWAS OIL & ALLIED PRODUCTS FZE.
GIORGIO DREDGING OIL& GAS FZE.
RANO OIL & GAS FZ.
ETANZILA PETROLEUM COMPANY FZE.
BEN-REUBENS (NIGERIA) FZEHAULAGE OIL & GAS FZEBELLBROOK INT'L FZEGRAND PETROLEUM AND CHEMICALS FZECHINA CENTURY HOUSING CORPORATION FZE.
HUAYI FURNITURE MANUFACTURING COMPANY FZE.
FAS ENERGY & NATURAL RESOURSES FZEHAPEL PETROLEUM & GAS FZE.
XIYANG DESIGN & CONSULTING FZERESOURCES BIKE FZEPLURAL OIL MARKETING FZESPOG PETROCHEMICALS FZEYOUCARE PHARMACEUTICAL ( AFRICA) FZEAG GLOBAL FZE.
ASO SAVINGS & LOANS FZE.
SKYE BANK FZE.
SULPHURSTREAMS TERMINALLING COMPANY FZE.
TEKNOCHEM STORAGE COMPANY FZE.
CHINA GOLDEN TRIANGLE GROUP FZE.
E.O FABUNMI AND SONS FZE.
SEA PETROLEUM AND GAS FZE.
WORLD WIDE INVESTMENT AND DEVELOPMENT FZEAJUBA NIGERIA FZE.
PMI FZE.
BARBEDOS OIL AND GAS SERVICES FZE.
PINNACLE OIL & GAS FZECRCC TRADING & LOGISTIC FZE.
SHANGHAI TONGJI URBAN PLANNING & DESIGN INSTITUTE FZE.
ZHONGSHENG GROUP NEW TECHNOLOGY BUILDING MATERIALS CO. FZE.
LOVING HOME FURNISHINGS COMPANY FZE.
CHINA SINGYE RENEWABLE ENERGY TECHNOLOGY (NIGERIA) FZE.
AOBO KEDI NIG.PHARMACEUTICAL FZE
Harig Oil Supply and Trading Co.
New Energy Services Company Ltd.
Puma Energy Limited.
Spog Petrochemicals Ltd.
HONGYE CONSTRUCTION GROUP FZE.
PUMA ENERGY FZE.
YFK PHARMACEUTICALS FZE.
NORTHWEST PETROLEUM & GAS FZE.
SAMON PETROLEUM FZE.
HARIG OIL SUPPLY & TRADING FZE.
UNION PETROLEUM SERVICE FZE.
CLAIRGOLD OIL & GAS ENGINEERING FZE.
IMAD OIL & GAS FZE.
NOWAS OIL & ALLIED PRODUCTS FZE.
GIORGIO DREDGING OIL& GAS FZE.
RANO OIL & GAS FZ.
ETANZILA PETROLEUM COMPANY FZE.
BEN-REUBENS (NIGERIA) FZEHAULAGE OIL & GAS FZEBELLBROOK INT'L FZEGRAND PETROLEUM AND CHEMICALS FZECHINA CENTURY HOUSING CORPORATION FZE.
HUAYI FURNITURE MANUFACTURING COMPANY FZE.
FAS ENERGY & NATURAL RESOURSES FZEHAPEL PETROLEUM & GAS FZE.
XIYANG DESIGN & CONSULTING FZERESOURCES BIKE FZEPLURAL OIL MARKETING FZESPOG PETROCHEMICALS FZEYOUCARE PHARMACEUTICAL ( AFRICA) FZEAG GLOBAL FZE.
ASO SAVINGS & LOANS FZE.
SKYE BANK FZE.
SULPHURSTREAMS TERMINALLING COMPANY FZE.
TEKNOCHEM STORAGE COMPANY FZE.
CHINA GOLDEN TRIANGLE GROUP FZE.
E.O FABUNMI AND SONS FZE.
SEA PETROLEUM AND GAS FZE.
WORLD WIDE INVESTMENT AND DEVELOPMENT FZEAJUBA NIGERIA FZE.
PMI FZE.
BARBEDOS OIL AND GAS SERVICES FZE.
PINNACLE OIL & GAS FZECRCC TRADING & LOGISTIC FZE.
SHANGHAI TONGJI URBAN PLANNING & DESIGN INSTITUTE FZE.
ZHONGSHENG GROUP NEW TECHNOLOGY BUILDING MATERIALS CO. FZE.
LOVING HOME FURNISHINGS COMPANY FZE.
CHINA SINGYE RENEWABLE ENERGY TECHNOLOGY (NIGERIA) FZE.
AOBO KEDI NIG.PHARMACEUTICAL FZE
Real estate Investment is Welcomed in the Lekki Free Trade Zone Development Company. Nigeria. 2347087499733
Lekki Free Trade Zone Development Company welcomes any investment in the following sectors in Lekki Free Zone.
1) Process Manufacturing and Assembly
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
1) Process Manufacturing and Assembly
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
Infrastructure Investment is Welcomed in Lekki Free Trade Zone in Nigeria. 2348120605856
Lekki Free Trade Zone Development Company welcomes any investment in the following sectors in Lekki Free Zone
1) Process Manufacturing and Assembly
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
1) Process Manufacturing and Assembly
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
Services Investment is Welcomed in the Lekki Free Trade Zone in Nigeria 2347051455404
Lekki Free Trade Zone Development Company welcomes any investment in the following sectors in Lekki Free Zone.
1) Process Manufacturing and Assembly:
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry:
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
1) Process Manufacturing and Assembly:
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry:
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
Commerce and Logistics Industry Investment are welcomed in Lekki Free Trade Zone in Nigeria. 2347087499733
Lekki Free Trade Zone Development Company welcomes any investment in the following sectors in Lekki Free Zone.
1) Process Manufacturing and Assembly
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
1) Process Manufacturing and Assembly
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
Process Manufacturing and Assembly Investment is welcomed in the Lekki Free Trade Zone Nigeria. 2348120605856
Lekki Free Trade Zone Development Company welcomes any investment in the following sectors in Lekki Free Zone.
1) Process Manufacturing and Assembly
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
1) Process Manufacturing and Assembly
A) Process manufacturing of construction material, furniture, pharmaceuticals, garments, shoes, food, beverage etc.
B). Assembly of Vehicle, engineering machinery, electronic devices and instruments etc.
2). Commerce and Logistics Industry
A) Exhibition and trade fair related services
B) Warehouse and transportation
C) Oil product and gas storage
D) Logistics services
E) Urban services
3). Real estate
A) Industrial land development for plants, workshops etc.
B) Commercial and residential land development for exhibition centre, malls, shops, restaurants, petroleum stations, 4S shops for vehicle, hotels, apartment building, office buildings, villas, houses etc.
4) Services
A) Banks, financial services
B) Hotels
C) Restaurants
D) Insurances
E) Tourism service
F) Entertainment facilities
G) Medical service
H) Other services
5). Infrastructure
A) Power plant
B) Water plant
C) Sewage Treatment
Economy of Nigeria. A Mixed Economy Emerging market in Africa. 2348120605856
Economy
Nigeria is classified as a mixed economy emerging market, and has already reached middle income status according to the Worldbank, with its abundant supply of natural resources, well-developed financial, legal, communications, transport sectors and stock exchange (the Nigerian Stock Exchange), which is the second largest in Africa.
Nigeria is ranked 37th in the world in terms of GDP (PPP) as of 2007.
Nigeria is the United States' largest trading partner in sub-Saharan Africa and supplies a fifth of its oil (11% of oil imports).
It has the seventh-largest trade surplus with the U.S. of any country worldwide. Nigeria is currently the 50th-largest export market for U.S. goods and the 14th-largest exporter of goods to the U.S.
The United States is the country's largest foreign investor. February 2011: According to Citigroup, Nigeria will get the highest average GDP growth in the world between 2010–2050. Nigeria is one of two countries from Africa among 11 Global Growth Generators countries.
It is now the second largest economy in Africa (following South Africa), and the largest economy in the West Africa Region. Key sectors: Nigeria is the 12th largest producer of petroleum in the world and the 8th largest exporter, and has the 10th largest proven reserves.
(The country joined OPEC in 1971). Petroleum plays a large role in the Nigerian economy, accounting for 40% of GDP and 80% of Government earnings. However, agitation for better resource control in the Niger Delta, its main oil producing region, has led to disruptions in oil production and currently prevents the country from exporting at 100% capacity.
Nigeria has one of the fastest growing telecommunications markets in the world, major emerging market operators (like MTN, Etisalat, Zain and Globacom) basing their largest and most profitable centres in the country.
The government has recently begun expanding this infrastructure to space based communications. Nigeria has a space satellite which is monitored at the Nigerian National Space Research and Development Agency Headquarters in Abuja.
The country has a highly developed financial services sector, with a mix of local and international banks, asset management companies, brokerage houses, insurance companies and brokers, private equity funds and investment banks.
Nigeria also has a wide array of underexploited mineral resources which include natural gas, coal, bauxite, tantalite, gold, tin, iron ore, limestone, niobium, lead and zinc.
Despite huge deposits of these natural resources, the mining industry in Nigeria is still in its infancy. Agriculture used to be the principal foreign exchange earner of Nigeria.
At one time, Nigeria was the world's largest exporter of groundnuts, cocoa, and palm oil and a significant producer of coconuts, citrus fruits, maize, pearl millet, cassava, yams and sugar cane.
About 60% of Nigerians work in the agricultural sector, and Nigeria has vast areas of underutilized arable land. It also has a manufacturing industry which includes leather and textiles (centred Kano, Abeokuta, Onitsha, and Lagos), car manufacturing (for the French car manufacturer Peugeot as well as for the English truck manufacturer Bedford, now a subsidiary of General Motors), t-shirts, plastics and processed food.
The country has recently made considerable amount of revenue from home made Nigerian Movies which are sold locally and internationally.
These movies are popular in other African countries and among African immigrants in Europe.
Nigeria is classified as a mixed economy emerging market, and has already reached middle income status according to the Worldbank, with its abundant supply of natural resources, well-developed financial, legal, communications, transport sectors and stock exchange (the Nigerian Stock Exchange), which is the second largest in Africa.
Nigeria is ranked 37th in the world in terms of GDP (PPP) as of 2007.
Nigeria is the United States' largest trading partner in sub-Saharan Africa and supplies a fifth of its oil (11% of oil imports).
It has the seventh-largest trade surplus with the U.S. of any country worldwide. Nigeria is currently the 50th-largest export market for U.S. goods and the 14th-largest exporter of goods to the U.S.
The United States is the country's largest foreign investor. February 2011: According to Citigroup, Nigeria will get the highest average GDP growth in the world between 2010–2050. Nigeria is one of two countries from Africa among 11 Global Growth Generators countries.
It is now the second largest economy in Africa (following South Africa), and the largest economy in the West Africa Region. Key sectors: Nigeria is the 12th largest producer of petroleum in the world and the 8th largest exporter, and has the 10th largest proven reserves.
(The country joined OPEC in 1971). Petroleum plays a large role in the Nigerian economy, accounting for 40% of GDP and 80% of Government earnings. However, agitation for better resource control in the Niger Delta, its main oil producing region, has led to disruptions in oil production and currently prevents the country from exporting at 100% capacity.
Nigeria has one of the fastest growing telecommunications markets in the world, major emerging market operators (like MTN, Etisalat, Zain and Globacom) basing their largest and most profitable centres in the country.
The government has recently begun expanding this infrastructure to space based communications. Nigeria has a space satellite which is monitored at the Nigerian National Space Research and Development Agency Headquarters in Abuja.
The country has a highly developed financial services sector, with a mix of local and international banks, asset management companies, brokerage houses, insurance companies and brokers, private equity funds and investment banks.
Nigeria also has a wide array of underexploited mineral resources which include natural gas, coal, bauxite, tantalite, gold, tin, iron ore, limestone, niobium, lead and zinc.
Despite huge deposits of these natural resources, the mining industry in Nigeria is still in its infancy. Agriculture used to be the principal foreign exchange earner of Nigeria.
At one time, Nigeria was the world's largest exporter of groundnuts, cocoa, and palm oil and a significant producer of coconuts, citrus fruits, maize, pearl millet, cassava, yams and sugar cane.
About 60% of Nigerians work in the agricultural sector, and Nigeria has vast areas of underutilized arable land. It also has a manufacturing industry which includes leather and textiles (centred Kano, Abeokuta, Onitsha, and Lagos), car manufacturing (for the French car manufacturer Peugeot as well as for the English truck manufacturer Bedford, now a subsidiary of General Motors), t-shirts, plastics and processed food.
The country has recently made considerable amount of revenue from home made Nigerian Movies which are sold locally and internationally.
These movies are popular in other African countries and among African immigrants in Europe.
Why You Should Buy Land in Lekki Free Trade Zone, Lagos State. Nigeria 2347051455404
Why You Should Buy Land in Lekki Free Trade Zone
1. Unique Location
It is within the reach of domestic market of Nigeria with a population of over 140 million people.
It also has easy access to the neighbouring countries in West Africa and central Africa with a population of 500 million people.
It is within the easy reach of European and American market.
2. Provision of Infrastructure
Good road networks
12 MW of power as initial oftake
Water supply of about 9000m3 /day
Communications
Security system
The new Lekki International Airport
The new Lekki deep sea port
3. Regional Characteristics
Lekki Free Zone is about 50Km from Lagos city centre, 70 Km from the Murtala Mohammed Int’l Airport (MMIA) and 10 Km from the new Lekki Int'l Airport. It is also about 50 Km from Apapa port, West africa’s largest harbour.
The new Lekki deep sea port is located right inside the Lekki Free Zone and will be linked by rail and road network to all the commercial states of Nigeria and neighbouring countries.
4. Dangote Refinery.
1. Unique Location
It is within the reach of domestic market of Nigeria with a population of over 140 million people.
It also has easy access to the neighbouring countries in West Africa and central Africa with a population of 500 million people.
It is within the easy reach of European and American market.
2. Provision of Infrastructure
Good road networks
12 MW of power as initial oftake
Water supply of about 9000m3 /day
Communications
Security system
The new Lekki International Airport
The new Lekki deep sea port
3. Regional Characteristics
Lekki Free Zone is about 50Km from Lagos city centre, 70 Km from the Murtala Mohammed Int’l Airport (MMIA) and 10 Km from the new Lekki Int'l Airport. It is also about 50 Km from Apapa port, West africa’s largest harbour.
The new Lekki deep sea port is located right inside the Lekki Free Zone and will be linked by rail and road network to all the commercial states of Nigeria and neighbouring countries.
4. Dangote Refinery.
Good Incentives for Lekki FTZ Free Trade Zone. Tax Holiday. Nigeria 2347087499733
INCENTIVES FOR LEKKI FREE TRADE ZONES
Complete tax holiday from all Federal, State and Local Government taxes, rates, customs duties and levies.
One-stop approvals for all permits, operating licenses and incorporation papersDuty-free, tax-free import of raw materials and components for goods destined for re-export.
Duty-free capital goods, consumer goods, machinery, equipment, and furniture.
Permission to sell 100% of manufactured, assembled or imported goods into the domestic Nigerian market.
When selling into the domestic market, the amount of import duty on goods manufactured in the Free Zone is calculated only on the basis of the value of the raw materials or components used in assembly, not on the finished products100% foreign ownership of investments100% repatriation of capital, profits and dividends.
Waiver on all import and export and exports licenses.
Waiver on all expatriate quotas for companies operating in the Zones.
Prohibition of strikes and lockouts.
Complete tax holiday from all Federal, State and Local Government taxes, rates, customs duties and levies.
One-stop approvals for all permits, operating licenses and incorporation papersDuty-free, tax-free import of raw materials and components for goods destined for re-export.
Duty-free capital goods, consumer goods, machinery, equipment, and furniture.
Permission to sell 100% of manufactured, assembled or imported goods into the domestic Nigerian market.
When selling into the domestic market, the amount of import duty on goods manufactured in the Free Zone is calculated only on the basis of the value of the raw materials or components used in assembly, not on the finished products100% foreign ownership of investments100% repatriation of capital, profits and dividends.
Waiver on all import and export and exports licenses.
Waiver on all expatriate quotas for companies operating in the Zones.
Prohibition of strikes and lockouts.
The Government and Politics of Federal Republic of Nigeria
Nigeria is a Federal Republic modelled after the United States, with executive power exercised by the president and with overtones of the Westminster System model in the composition and management of the upper and lower houses of the bicameral legislature.
The current president of Nigeria is Muhammad Buhari who came into office in 2015.
The president presides as both Head of State and head of the national executive and is elected by popular vote to a maximum of two four-year terms.
The president's power is checked by a Senate and a House of Representatives, which are combined in a bicameral body called the National Assembly.
The Senate is a 109-seat body with three members from each state and one from the capital region of Abuja; members are elected by popular vote to four-year terms.
The House contains 360 seats and the number of seats per state is determined by population.
The major political parties at present include the ruling People's Democratic Party of Nigeria which maintains 223 seats in the House and 76 in the Senate (61.9% and 69.7% respectively); the opposition All Nigeria People's Party has 96 House seats and 27 in the Senate (26.6% and 24.7%).
There are also about twenty other minor opposition parties registered.
The current president of Nigeria is Muhammad Buhari who came into office in 2015.
The president presides as both Head of State and head of the national executive and is elected by popular vote to a maximum of two four-year terms.
The president's power is checked by a Senate and a House of Representatives, which are combined in a bicameral body called the National Assembly.
The Senate is a 109-seat body with three members from each state and one from the capital region of Abuja; members are elected by popular vote to four-year terms.
The House contains 360 seats and the number of seats per state is determined by population.
The major political parties at present include the ruling People's Democratic Party of Nigeria which maintains 223 seats in the House and 76 in the Senate (61.9% and 69.7% respectively); the opposition All Nigeria People's Party has 96 House seats and 27 in the Senate (26.6% and 24.7%).
There are also about twenty other minor opposition parties registered.
Conceptual Master Plan of Lekki FTZ Free Trade Zone. Nigeria 2347087499733
Conceptual Master Plan of Lekki FTZ (155 square kilometers)
The Conceptual Master Plan of Lekki FTZ, covering a total area of 155 square kms., was initiated and prepared by the Lagos State Government in 2006.
The Plan has defined Lekki FTZ as a special multi-functional economic zone and a new modern city with several south-west and north-south traffic corridors.
In addition, the Plan has specified the layout in the form of cluster development interwoven with ecological elements.
The southwest quadrant as shown below has been defined as the area for Phase 1 development ( 30 square kms. ).
The Conceptual Master Plan of Lekki FTZ, covering a total area of 155 square kms., was initiated and prepared by the Lagos State Government in 2006.
The Plan has defined Lekki FTZ as a special multi-functional economic zone and a new modern city with several south-west and north-south traffic corridors.
In addition, the Plan has specified the layout in the form of cluster development interwoven with ecological elements.
The southwest quadrant as shown below has been defined as the area for Phase 1 development ( 30 square kms. ).
The Blueprint of Overall Development of Lekki Free Trade Zobe Peninsula,
Planning background
The Blueprint of Overall Development of Lekki Peninsula (about 600 square kilometers)
In July 2008, the conceptual blueprint of developing the Lekki Penninsulaa into a 'Blue-Green Environment City' was proposed by the State Government of Lagos , which covers a total area of 600 square kms. stretching from Victoria Island in the west to Refuge Island in the east.
The conceptual blueprint has set the basic criterions for land uses and development of important public facilities and infrastructures in both the north and south peninsulas. And it also provides the essential guidelines for the regional planning of the entire Lekki peninsula as well as the important basis for the preparation of Lekki FTZ plans with a view to integrating Lekki FTZ with development of the Mega city of Lagos.
The Blueprint of Overall Development of Lekki Peninsula (about 600 square kilometers)
In July 2008, the conceptual blueprint of developing the Lekki Penninsulaa into a 'Blue-Green Environment City' was proposed by the State Government of Lagos , which covers a total area of 600 square kms. stretching from Victoria Island in the west to Refuge Island in the east.
The conceptual blueprint has set the basic criterions for land uses and development of important public facilities and infrastructures in both the north and south peninsulas. And it also provides the essential guidelines for the regional planning of the entire Lekki peninsula as well as the important basis for the preparation of Lekki FTZ plans with a view to integrating Lekki FTZ with development of the Mega city of Lagos.
Thursday, 23 June 2016
There are Four Systems of Law in Nigeria. English, Common, Customary and Sharia 2347051455404
There are four different systems of law in Nigeria:
• English law which is derived from its colonial past with Britain;
• Common law, a development of its post colonial independence;
• Customary law which is derived from indigenous traditional norms and practice, including the dispute resolution meetings of pre-colonial Yorubaland secret societies and the Èkpè and Okónkò of Igboland and Ibibioland;
• Sharia law, used only in the predominantly Muslim north of the country. It is an Islamic legal system which had been used long before the colonial administration in Nigeria but recently politicised and spearheaded in Zamfara in late 1999 and eleven other states followed suit. These states are Kano, Katsina, Niger, Bauchi, Borno, Kaduna, Gombe, Sokoto, Jigawa, Yobe, and Kebbi.
The country has a judicial branch, the highest court of which is the Supreme Court of Nigeria.
• English law which is derived from its colonial past with Britain;
• Common law, a development of its post colonial independence;
• Customary law which is derived from indigenous traditional norms and practice, including the dispute resolution meetings of pre-colonial Yorubaland secret societies and the Èkpè and Okónkò of Igboland and Ibibioland;
• Sharia law, used only in the predominantly Muslim north of the country. It is an Islamic legal system which had been used long before the colonial administration in Nigeria but recently politicised and spearheaded in Zamfara in late 1999 and eleven other states followed suit. These states are Kano, Katsina, Niger, Bauchi, Borno, Kaduna, Gombe, Sokoto, Jigawa, Yobe, and Kebbi.
The country has a judicial branch, the highest court of which is the Supreme Court of Nigeria.
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