Investment Policy Monitor
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the quarterly Investment Policy Monitor (since 2009) and the UNCTAD-OECD Reports on G20 Measures.
In 2011, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2000 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for growth and development.
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Note: the policy measures are identified through a systematic review of government and business intelligence sources. 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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- Nigeria - Allows the investment promotion agency to negotiate incentives for strategic investments
Nigeria
Allows the investment promotion agency to negotiate incentives for strategic investments
14 Feb 2023On 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 Act (NIPC Act) to detail the responsibilities of the Commission in identifying, determining, and promoting strategic or major investments. The new section 22 requires the Commission to specify priority area of investment and any applicable benefits and incentives and negotiate special incentives packages for strategic investment in addition to the general incentive applicable to any enterprise under the law. The Commission is required to publish the criteria for determining strategic investment and the details special incentives awarded in the Federal Government Gazette and on its website.
inter alia, the Nigerian Investments Promotion Commission Act, with implications for (i) Registration for acquisition of foreign equity and (ii) Incentive for special investment. More specifically:
• Amends Section 20 of the NIPC Act by introducing a new subsection (3) which requires a company that acquires foreign equity after it commenced business to register with the NIPC. Before the effective date of the BFA, the NIPC Act only required a new company with foreign participation to register with the NIPC before commencement. Based on this amendment, any Nigerian company which subsequently acquires a foreign participation is required to register with the Commission within three (3) months of such acquisition.
The new law entered into force on 8 February 2023.
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Type:
- Promotion and facilitation (Investment facilitation )
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Industry:
- Not industry specific
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Sources:
- Federal Republic of Nigeria Official Gazette, Business Facilitation (Miscellaneous Provisions) Act, 2022 , https://ls-ng.com/wp-content/uploads/2023/03/Business-Facilitation-Misc-Provisions-Act-2022-searchable-pdf.pdf, 17 Feb 2023
- E&Y, Nigeria - Highlights of the Business Facilitation (Miscellaneous Provisions) Act, https://taxnews.ey.com/news/2023-0950-nigeria-highlights-of-the-business-facilitation-miscellaneous-provisions-act, 25 May 2023
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the quarterly Investment Policy Monitor (since 2009) and the UNCTAD-OECD Reports on G20 Measures.
In 2011, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2000 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for growth and development.
-
Note: the policy measures are identified through a systematic review of government and business intelligence sources. 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.