Investment Policy Measures

11 results
Nigeria

Nigeria

09 Jun 2023

Electricity 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

Nigeria

10 May 2023

Adopts 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

Nigeria

14 Feb 2023

Allows 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

Nigeria

31 Dec 2021

Introduces 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

Nigeria

05 Nov 2019

Adoption 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

Nigeria

07 Aug 2017

List 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

Nigeria

03 Aug 2017

Federal 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

Nigeria

18 May 2017

Executive 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

Nigeria

23 Mar 2017

Introduction 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

Nigeria

23 Apr 2010

Adopts 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

Nigeria

01 Apr 2010

Adopts 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 [...]

Number of policy measures per economy (since 01 Jan 2010) 1 93