Investment Policy Monitor
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
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UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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Investment Policy Measures
11 results
Nigeria
09 Jun 2023Electricity Act 2023 liberalizes the sector and promotes renewables
On 9 June 2023, the Government of Nigeria adopted Electricity Act 2023, which repeals the Electricity and Power Sector Reform Act of 2005. The Act introduces a range of key features including the following: • Liberalization of Nigeria’s [...]
Nigeria
10 May 2023Adopts the Nigeria Investment Policy
On 10 May 2023, the Government of Nigeria approved for implementation the first ever Nigeria Investment Policy, with the stated aim of giving investors more comfort and attract more investment into the economy. The investment policy [...]
Nigeria
14 Feb 2023Allows the investment promotion agency to negotiate incentives for strategic investments
On 14 February 2023, the President of Nigeria signed into law the Business Facilitation (Miscellaneous Provisions) Act (BFA), 2022. Among its key novelties, the Act: • Amends Section 22 of the Nigerian Investments Promotion Commission [...]
Nigeria
31 Dec 2021Introduces new taxes on non-resident companies in digital and professional services
The Finance Act 2021 was signed into law on 31 December 2021, amending different tax and fiscal legislation. Section 13 of the Company Income Tax Act (CITA) has been amended to incorporate the taxation of non-resident companies carrying [...]
Nigeria
05 Nov 2019Adoption of law which amends production-sharing contracts
Nigeria's President gave his assent to the Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Bill 2019 on November 2019, amending the 1993 law. The Amendment increases the government's share of profits from oil [...]
Nigeria
07 Aug 2017List of 27 new industries added to the list of pioneer status incentives
On 7 August 2017, the Federal Ministry of Industry, Trade and Investment (FMITI) published a list of 27 new industries eligible to enjoy the pioneer status incentive in Nigeria. Notable inclusions to the list are e-commerce services, [...]
Nigeria
03 Aug 2017Federal Government grants ‘Pioneer Status’ to Nigerian creative industry
The Federal Government has granted 'Pioneer Status' to the Nigerian creative industry. The 'Pioneer Status' is granted to companies making investments in qualifying industries and products and comes along with tax holidays from the [...]
Nigeria
18 May 2017Executive Order on the Promotion of Transparency and Efficiency in the Business Environment
The Executive Order, which was signed by the Acting President on 18 May 2017, instructs all ministries, departments, and agencies (MDAs) of the federal government to publish a complete list of all requirements or conditions for obtaining [...]
Nigeria
23 Mar 2017Introduction of "visa on arrival" facility for foreign investors
The Nigeria Immigration Service (NIS) introduced in March 2017 a new online "Visa on Arrival" (VOA) facility to the public, especially to foreign investors willing to invest in Nigeria. The measure was part of the resolution of the [...]
Nigeria
23 Apr 2010Adopts the Oil and Gas Industry Development Act 2010
The new Oil and Gas Industry Development Act creates, inter alia, the Nigerian Content Development Agency and seeks to ensure that 70 percent of Nigeria's oil and gas production is done locally by 2010. The Act stipulates that priority [...]
Nigeria
01 Apr 2010Adopts Oil and Gas Industry Development Bill 2010
In April 2010 Nigeria adopted the Oil and Gas Industry Development Act which, inter alia, creates the Nigerian Content Development Agency and ensures that 70 percent of Nigeria's oil and gas production is done locally by 2010.The Act [...]
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
-
UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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