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OPPORTUNITIES

NIGERIA'S AGRICULTURAL AND MINERAL RESOURCES

MANUFACTURING

Fact Sheet

Nigeria’s manufacturing sector is among the largest in Africa, with numerous opportunities. The sector contributes approximately 10-11.5% of total Gross Domestic Product (GDP) each year in Nigeria. In 2021, agriculture contributed around 23.36% to Nigeria’s GDP, 31.41% came from industries, and 43.79% from the services sector.

The National Development Plan (NDP) (2021 to 2025), outlines Government’s policy objectives and targets for Manufacturing and Industrialization. In the Plan, the Government’s goal is to improve infrastructure, stabilize the macroeconomy, and remove regulatory constraints to encourage investment in the manufacturing sector. The target of the plan is to:

  • Increase the sector’s contribution to GDP from 11.64% to 13%.

  • Increase financing for manufacturing and Banks credit allocation to manufacturing activities from N3 .2 trillion to N 6.5 trillion.

  • Improve the sector’s value chain integration share to exports from 7. 7% to 20% by promoting domestic sourcing of manufacturing inputs.

The Federal Government instituted a committee to develop a policy framework to boost the manufacturing sector in the following areas:

  • Trade liberalization Scheme (TLS) of the Economic Community of West Africa States (ECOWAS).

  • Liberalization of company ownership structure.

  • Repatriation of profits.

  • Guarantees against expropriation.

  • Investment Promotion and Protection Agreement (IPPA)

  • Investment in economically disadvantaged areas.

  • Labor-intensive mode of production.

  • Local value addition.

  • Minimum local raw materials utilization.

  • In-plant training.

  • Agro-allied and Agro Processing: Food Processing (Beverages, Packaged Foods, Metal (Food Canning) etc.); Sugar Production; Palm Oil Processing; Textile and Leather Products; Rubber Products (Tyre); Cocoa Processing; Plastics (Polyethylene), Glass (Bottles Drinks) and Paper Packaging materials.

  • Metal and Solid Mineral Product: Cement Production; Automobile Assembly and Auto components; Basic Metal/Steel; and Aluminum.

  • White Goods: Centrifuge, Refrigerator, Washing and Bottling Machines, and Air-conditioners.

  • ICT Equipment: Telephones, Computers, Broadcasting Equipment and Accessories.

  • Electrical and Electronics: Electric Generating Sets, Video Displays, Electrical Transformers, Insulated Wire, Low Voltage Protection Equipment, and Electrical Control Boards.

  • Power Distribution and Generation.

  • Oil and Gas Related: Upstream and Downstream, Petrochemical, Fertilizer, Methanol, Refineries, and Plastics.

  • Construction and Light Manufacturing: Housing.

  • Mining

  • Pharmaceutical: Production of drugs and other pharmaceutical products.

  • Dangote Group

  • Nigerian Breweries Ltd

  • Nestle Nigeria Ltd

  • Flour Mills of Nigeria Ltd

  • Unilever Nigeria Ltd

  • PZ Cussons Ltd

  • DUFIL Prima Foods Ltd

  • Lafarge Cement Ltd

  • British American Tobacco Ltd

  • Nexans Nigeria Ltd

  • Reliance Plastic Ind. Ltd.

  • Meks Apparel. Ltd

  • Albert Futures Nigeria Ltd

  • Innoson Vehicle Manufacturing Company

  • Peugeout Automobile Nig eria Limited

  • Tower Aluminium (Nigeria) PLC

  • Ajaokuta Steel Company Limited

  • Pioneer Status Incentive for 3 years and can be extended for a period of 2 years for qualified/eligible industries.

  • Exemption from Value Added Tax (VAT).

  • National Agency for Food and Drug Administration and Control (NAFDAC)

  • Standards Organization of Nigeria (SON).

  • Nigerian Investment Promotion Commission;

  • Nigerian Export Promotion Council (NEPC);

  • National Environmental Standards and Regulatory Agency;

  • State Federal Environmental Protection Agencies;

  • National Office for Technology Acquisition and Promotion;

  • Bank of Industry (B0I)

  • Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)

  • Nigeria Export Processing Zone Authority (NEPZA)

  • Federal Ministry of Industry and Trade. and Investment

  • Raw Materials Research and Development Council

  • Federal Ministry of Science and Technology

  • Nigerian Customs Service Federal Ministry of Finance

PHARMACEUTICALS

Fact Sheet

  • NAFDAC achievement of WHO Maturity Level 3 Status providing domestic regulatory approval for new products for Nigeria and trade to other countries

  • Upgrading health infrastructure in response to emerging healthcare needs

  • Existing Infrastructure for Artificial Intelligence in the Health sector

  • Robust regulation and guideline for pharmaceuticals and food sector

  • Some Pharmaceutical Industries have WHO GMP certification

  • Government’s commitment to provide medicines for over 200 Million people through a polled medicine procurement initiatives as a consequent of signing into law mandatory health insurance

  • Nigeria will continue to provide incentives for its local pharmaceutical industry in support of the country’s efforts to diversify its economy

Nigeria’s pharmaceutical industry will benefit from the newly launched national drug policy.

  • Medical Parks and Super Specialist Hospitals

  • Manufacturing of Laboratory consumables

  • Drug Manufacturing is an existing gap and Nigeria is well positioned to be a manufacturing hub

  • Development of Health Infrastructure and Technology

  • Manufacturing of drugs for prevention and treatment of multiple communicable and non-communicable threats.

  • Research and Development

  • Pioneer status – Tax Holiday

  • Tax relief for R&D

  • Capital allowances

  • Unconditional transferability of funds

  • Remittance of proceeds (net of all taxes) in the event of sale or liquidation of the enterprise

  • Total repatriation of capital should the investor choose to relocate elsewhere

  • Investment Protection Assurance

  • Investment Promotion and Protection Agreements – IPPA

National Agency for Food & Drug Administration – NAFDAC

AUTOMOTIVE INDUSTRY

Fact Sheet

  • Over 200 million people

  • 40 million middle class

  • 600,000 annually imported cars

  • 80% imported car ratio

  • 35 assemble licenses to produce 40 brands

  • 14 million cars on Nigerian roads

  • 1 million estimated new car annual market

  • New Automotive Industry Development Plan (NAIDP)

  • Honda

  • Peugeot

  • Coscharis Group

  • Innoso

  • Globe Motors

  • Stallion

  • Setting up of assembly plants in the country to serve the domestic market.

  • Capacity building/ training of skilled labour for repair and servicing.

  • Investment opportunities in the supply of equipment and other important components to domestic assemblers.

  • Setting up of local component manufacturing plants.

  • Vehicle leasing and fleet outsourcing and fleet and leasing business which promises very impressive returns.

  • Capital allowances not restricted, granted in full- 100%.

  • Pioneer Status (tax holiday) granted for 3 years and renewed for the next two years.

  • 100 percent repatriation of profit net of taxes.

  • Investment Promotion and Protection Agreement: IPPA helps to guarantee the safety of investment of the contracting parties in the event of war, revolution, expropriation or nationalization.

  • Cash grants; tax credits, exemptions or abatements; free or discounted land and buildings; and employment training assistance (among others).

  • One Stop Investment Centre (OSIC)

  • Federal Ministry of Industry, Trade and Investment (FMITI) - website

  • National Automotive Design and Development Council (NADDC) - website

  • Nigeria Custom Service (NCS) - website

  • Federal Road Safety Corp (FRSC) - website

  • Standards Organization of Nigeria (SON) - website

  • National Automotive Council (NAC)

INFORMATION AND COMMUNICATION TECHNOLOGY

Fact Sheet

  • ICT has created opportunities for diverse forms of investment through digital market, improved productivity and quality of the revolution of the Nigerian banking and financial sector.

  • 16.22% contribution to GDP (Q4 2022).

  • 44.5% broadband penetration.

  • 70% 5G broadband target by 2025.

  • The legislation governing the industry is in the Nigerian Communication Act 2003. The Act empowered the Nigerian Communication Commission to license and regulate operators in the industry.

  • Recently, a proposed law titled the National Information Technology Development Agency Act 2021 (the “Bill”) which if enacted would repeal and replace the NITDA Act and will establish a framework for mandatory licenses to be obtained by Technology companies from NITDA; expand the regulatory oversight of NITDA; and generally foster the development of the Nigerian information technology sector.

  • Provision of telecommunication service using G3, G4 and Wi-Max technologies.

  • Provision of support service to firms operating in the industry.

  • Local manufacturing of information technology (IT) components.

  • Provision of Broadband services/technologies.

  • Expansion of terrestrial, undersea and satellite network.

  • Investment opportunity in ICT research, development and training efforts.

  • A good tariff structure that ensures investors recover their investment over a reasonable period of time.

  • Import duty on all telecom equipment reduced from 25% to 5%.

  • Exclusive period for licenses, e.g., five years for the GSM licenses, three years for long distance international gateway operators.

  • Pioneer status for three years with a renewable option for an additional two is offered to interested investors who want to set up plants for manufacture /installation of ICT equipment.

  • Free repatriation of profits and dividends.

  • Federal Ministry of Communication & Digital Economy - website

  • National Broadcasting Commission (NBC) - website

  • Nigerian Communications Commission (NCC) and - website

  • National Information Technology Development Agency (NITDA) - website

HEALTH SECTOR

Fact Sheet

Nigeria’s population has enormous potential for the development of health workforce to bridge the existing gaps within the country and for export. Nigerians spend about $1.9billion annually on medical tourism and 60% of this spending is attributed to four specialties: Oncology; Orthopedics; Nephrology and Cardiology. Federal Govt is disposed to public-private partnership arrangements for the sector to through as it requires capital to develop specialist hospitals.

National Health Act, 2014 (Act No. 8 of 2014). Abstract/Citation provides a framework for the regulation, development and management of a national health system and set standards for rendering health services in the federation, and other matters connected therewith.

  • New investment opportunities for medical parks and super specialist hospitals.

  • Heath Infrastructure and Technology e.g., electronic data, EMR, analytics, telemedicine.

  • Manufacturing of hospital and laboratory consumables and safety equipment.

  • Expansion of molecular laboratories & treatment centers in Nigeria.

  • Manufacture of pharmaceuticals, drugs and medical chemicals.

  • Manufacture of irradiation, electromedical and electrotherapeutic equipment.

  • Manufacture of medical and dental equipment and supplies.

  • Complete tax holiday from all forms of taxes, rates and levies.

  • Enjoy immigration waiver on expatriate quota.

  • Permission to sell 100% of goods into domestic market.

  • One-stop approvals for permits, operating license.

  • 100% foreign ownership of investments.

  • Federal Ministry of Health - website

  • National Biotechnology Development Agency (NABDA) - website

AGRICULTURE PROCESSING

Fact Sheet

  • Total Land mass – 923, 778m2

  • Arable Land – 40% utilization

  • 23% contribution to GDP – $504Billion

  • Labour Force – 60%

  • Climate – Tropical rainforest vegetation in the south and Sahel savanna up north

  • Fresh surface water – 267 billion cubic meters discharged into the Atlantic annually (37 billion stored in dams)

  • Underground water – 58 billion cubic meters

  • Annual rainfall range – 300 mm to 4,000 mm

  • Potential irrigable area- 3.14 million Ha (under 17%)

  • Agricultural Promotion Policy (APP) focuses on 4 key areas: food security, import substitution, job creation and economic diversification.

  • Economic Recovery and Growth Plan (ERGP) prioritizes food security and aims to achieve self-sufficiency in tomato paste, rice, and wheat by 2017/12018, and 2019/2020 respectively.

  • Crops: Millet, Maize, Cowpeas, Soybeans, Tomatoes, Cotton, Oil Palm.
    Drivers: Increase in demand.

  • Livestock: Cattle, Pig, Poultry, Sheep, Goat, Horse, Donkey, etc.
    Drivers: Demarcation of appropriate stock routes, grazing reserves with livestock extension services, dairy development, feed lot development.

  • Fisheries: Marine; Inland Aquaculture.
    Drivers: Substitute for imports of 700,000mts annually; significant biodiversity; abundant natural and human resources.

  • Cassava:
    Drivers: Largest producers; Food and industrial sector growing rapidly; Market share in Sub-Saharan African is $8.9 billion/per year; Large domestic import substitution market.

  • Oil Palm:
    Drivers: It is the world’s most consumable edible oil and one of the most versatile raw materials/substrate bases known to industry. Its application cut across industries from food to cosmetics.

  • Special agro industrial processing zones.

  • Water resources development especially for irrigation and flood control infrastructure.

  • Preservation facilities (cold rooms) and processing plants.

  • Huge export potential due to government policy on import.

  • Transporting fresh farm produce to processing facilities.

  • Packaging and branding facilities for agro produce.

  • Mechanized crop production such as rice, maize, millet, cassava, sugarcane, tomato and cash crops such as cocoa, palm kernel, rubber amongst others.

  • Food processing and preservation across the value chains of the sector.

  • Beef processing and packaging.

  • Fruit juice/canned fruits.

  • Beverages and confectionery.

  • Cash crop processing- cocoa, palm kernel, rubber among others.

  • Exploitation of timber and wood processing activities.

  • Livestock cultivation – dairy and aquaculture (fisheries) development.

  • Horticulture development.

  • Agricultural input supplies and machinery.

  • Commodity trading and transportation.

  • Development of private irrigation facilities.

  • Production of improved seeds and agro-chemicals.

  • Production of veterinary drug, vaccine, chemical, feeds and feed ingredients and Market Research.

  • Federal Government $1.2 Billion Green Imperative Agricultural Programme.

  • N475 Billion MSME Survival Fund.

  • N6.5 Billion insurance cover for Nigerian farmers by NIRSAL.

  • N600 Billion for Agricultural Financing Scheme targeting 2.4 million farmers.

  • N10 billion rice processing fund.

  • N500 billion fund for cotton farmers targeting 1.6 million farmers in the 2020 wet season $520 million Special Agro-Industrial.

  • Processing Zones (SAPZ) (Phase I): AfDB ($160M), IFAD ($160M), Islamic Development Bank ($150M) and Africa Together Fund ($50M).

  • All Agricultural and agro industrial machines and equipment enjoy zero percent duty.

  • Companies in the agro-allied business do not have their capital allowance restricted, it is granted in full 100%.

  • Agro-allied plant and equipment enjoy enhanced capital allowance of up to 50%.

  • Pioneer tax incentives: Income tax relief for a period of one year and thereafter another one year or two years period.

  • Exemption of value added tax (VAT).

  • 100% repatriation of profit.

  • Federal Ministry of Agriculture and Rural Development (FMARD) - website

  • Nigerian Agricultural Insurance Corporation (NAIC) - website

  • Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) - website

  • National Agricultural Seed Council (NASC) - website

EDUCATION

Fact Sheet

  • Nigeria’s expanding population is a serious obstacle for the nation’s educational system. With over 200 million people, more than half of the country’s population are under 35. Due to the rapid population growth, Nigeria now struggles to deliver high-quality educational services to its citizens. Given the enormous young population, government resources for education in Nigeria have not been able to keep up with demand. Both the quality of education provided, and the capability of educational infrastructure have diminished in public institutions. The number of children who are not attending school is reaching frightening heights. According to the Global Partnership for Education (GPE), Nigeria accounts for approximately 20% of the global out-of-school children population, with over 13 million children in the country not receiving formal education.

  • Nigeria’s educational system caters for all levels, ranging from kindergarten to university, through a combination of public and private educational services. The country follows a 6-3-3-4 (K-12) education model, which mandates that students attend primary and elementary school for six years, junior secondary and middle school for three years, high school for three years, and tertiary institutions for a minimum of four years. To gain admission into public or private higher institutions, including those within and outside Nigeria, twelfth-grade students must successfully pass two crucial exams. These are the West African Senior Secondary Certification Examination (WASCCE), which is administered by the West African Examinations Council and the Joint Admission and Matriculation Board of Nigeria’s (JAMB) Unified Tertiary Matriculation Examination (UTME). Each year, more than 1.6 million pupils take the WASSCE exams.

  • Technology-focused educational institutions that provide online education are now witnessing the benefits of their investments in telecommunication infrastructure, especially considering school closures during the COVID-19 pandemic. The pandemic has brought forth a greater awareness of the potential advantages of adopting technology in the Nigerian education sector, ranging from delivering lessons to conducting examinations.

At the national level, several policies have been put in place to ensure a conducive enabling environment for the implementation of government’s educational programmes. These include:

  • National Gender Policy (2006)

  • National Policy for Integrated Early Childhood Development (IECD) in Nigeria (2007)

  • National Policy on Gender in Basic Education (2006)

  • National Policy on Education (NPE) (2013)

  • National School-based Management Policy (NSBMP) (2016)

  • National Policy on Inclusive Education in Nigeria (2016).

  • National Policy Guidelines for Mass Literacy, Adult and Non-Formal Education in Nigeria

  • National Policy on Special Education and its Implementation Guidelines

  • National Policy on Inclusive Education Guideline

  • National Policy on Albinism Education and the Implementation Guidelines

  • Guidelines on the implementation of National Integrated Early Childhood Development Policy

  • Early Childhood Development Standards for Nigeria (2014)

  • One-Year Pre-Primary School Education Curriculum (2014)

  • Teachers Guide for One-Year Pre-Primary School Education Curriculum

  • National Enrolment Drive Framework (2016)

  • Educational product suppliers.

  • Providers of educational services.

  • Delivery of technology-driven educational solutions for online lectures and examinations.

  • Complete tax holiday from all forms of taxes, rates and levies.

  • Enjoy immigration waiver on expatriate quota.

  • Permission to sell 100% of goods into domestic market.

  • One-stop approvals for permits, operating license.

  • 100% foreign ownership of investments.

  • The Universal Basic Education Commission (UBEC)

  • National Commission for Mass Literacy, Adult and Non-Formal Education (NMEC)

  • National Commission for Nomadic Education (NCNE)

  • National Board for Technical Education (NBTE)

  • National Universities Commission

LIFESTYLE AND ENTERTAINMENT

Fact Sheet

  • Nigeria’s media and entertainment industry, known as “Nollywood,” emerged in 1992. Presently, it stands as the world’s second most productive film industry, producing approximately 2,500 movies each year.

  • The film industry is renowned internationally for its expertise in various aspects, such as scriptwriting, directing, sound, acting, cinematography, make-up, and editing. It has established itself as a well-known brand in the global film scene with operations spreading across multiple significant production hubs, including Lagos, Onitsha, Enugu, Asaba, and Abuja.

  • According to PwC’s report for 2021, Nigeria’s film industry made a significant contribution of 2.3% to the country’s GDP, amounting to $660 million (239 billion naira). It is projected that the industry’s export revenue earnings will exceed $1 billion in the future.

  • Based on an IMF report, the film industry is expected to yield approximately $10.8 billion in revenue by 2023, constituting around 1.4% of the country’s GDP.

  • As of 2021, the music industry had a workforce of approximately one million individuals and contributed over $8 billion to the economy. It garnered significant recognition, with artists like Wizkid and Burnaboy clinching prestigious Grammy awards, which, in turn, attracted increased investments from various quarters.

  • Copyrights Act, Cap C28, Laws of the Federation of Nigeria 2004

  • Patents and Designs Act, Cap P2, LFN 2004

  • Trade Marks Act, Cap T13, LFN 2004

  • Engaging in partnerships with international film producers for film festivals and promoting media tourism.

  • Establishing a distribution and rental business to offer new production technologies to industry participants.

  • Collaborating with local short film creators and content producers on social media platforms.

  • Providing consultancy services to enhance content reach, improve media penetration, and facilitate digitalization efforts.

  • Setting up training facilities dedicated to animation, visual effects, and technical skill development.

  • Launching a video streaming platform featuring exportable content.

  • Complete tax holiday from all forms of taxes, rates and levies.

  • Enjoy immigration waiver on expatriate quota.

  • Permission to sell 100% of goods into domestic market.

  • One-stop approvals for permits, operating license.

  • 100% foreign ownership of investments.

AUTHORTITIES

  • Nigerian Copyright Commission (NCC)

  • Nigerian Broadcasting Service (NBC)

  • National Films and Video Censors Board (NFVCB)

  • Nigerian Film Corporation

  • The Federal High Court

  • Federal Competition and Consumer Protection Commission (FCCPC)

  • Advertising Regulatory Council of Nigeria (ARCON)

  • National Lottery Regulatory Commission

PROFESSIONAL BODIES

The professional regulatory bodies within the entertainment industry function primarily as advocacy groups, aiming to advance the interests of their members and the sectors they represent.

  • Collecting Society of Nigeria (COSON)

  • Musical Copyright Society of Nigeria (MCSN)

  • Actors’ Guild of Nigeria (AGN)

  • Directors’ Guild of Nigeria

  • Screenwriters Guild of Nigeria

  • Nigerian Society of Cinematographers

  • Creative Designers’ Guild of Nigeria

  • Association of Nigerian Theatre Practitioners

  • Motion Picture Association of Nigeria (MPAN)

  • Performing Musicians’ Association of Nigeria (PMAN)

AVIATION

Fact Sheet

  • Air travel in Nigeria is experiencing a rebound following the impact of the COVID-19 pandemic. While the airlines have not yet reached their pre-pandemic levels, there are positive indications of recovery. They have been expanding their flight networks, even to remote airports within the country.

  • In 2021, the total number of passengers traveling through both domestic and international airports in Nigeria amounted to 15.23 million, which marks a significant increase of 45.32% compared to the figures from 2020, which stood at 10.48 million.

  • A variety of Boeing series planes (such as 737s-700 and 800 series, 777s-300 series) and Gulfstream 500 and 600 series, along with civilian and military Bell helicopters, are operated by airlines in Nigeria.

  • The Civil Aviation Act 2022

  • The Nigerian Civil Aviation Regulation 2015

  • Provision of maintenance, repair, and overhaul (MRO) facilities in the country.

  • Provision of on-ground handling and other airport equipment, such as cargo and passenger security scanners.

  • VAT Exemption: The Finance Bill 2020 exempts Commercial aircraft, commercial aircraft engines, commercial aircraft spare parts, and Airline transportation tickets issued and sold by commercial airlines registered in Nigeria from VAT.

  • Duty-Free Importation of Aircraft: The Finance Bill 2020 provides duty-free importation of aircraft and their components whether purchased or leased, for Airlines registered in Nigeria and providing commercial air transport services.

  • Nigerian Civil Aviation Authority (NCAA)

  • International Civil Aviation Organization (ICAO)

  • International Air Transport Association (IATA)

  • Federal Ministry of Aviation

  • Nigerian Airspace Management Authority (NAMA)

  • Nigerian Safety Investigation Bureau (NSIB)

  • Federal Airports Authority of Nigeria (FAAN)

LOGISTICS

Fact Sheet

  • Nigeria’s logistics and supply chain sectors are one of the fastest growing industries, experiencing rapid growth, with a 2.6 overall score in the World Bank’s Logistics Performance Index in 2022. This growth is driven by infrastructure development, international trade, manufacturing, export sectors, and e-commerce applications.

  • Nigeria’s logistics industry includes local and foreign private companies like United Parcel Service (UPS), DHL and Red Star Express.

  • Courier and Logistics Services (Operations) Regulations 2020

  • Nigerian Postal Services Act, 2004

  • Logistics Services Operations Regulations 2020

  • Warehousing – Storage and Packaging.

  • Land Transportation.

  • Courier and Express Services.

  • Port Terminals, ICDs’ and CFS Operations.

  • Freight Forwarding and Customs Clearance.

  • Air Cargo Operations.

  • Cold Chain Logistics Solutions.

  • Provision of technologies such as GPS tracking and control towers.

  • Delivery of technical skillsets on the use of technological equipment in the logistics industry.

  • Delivery and provision of technological services such as warehousing management systems, cargo management systems, real-time fuel management systems, and communication and information systems such as Electronic Data Interchange (EDI).

  • Complete tax holiday from all forms of taxes, rates and levies.

  • Enjoy immigration waiver on expatriate quota.

  • Permission to sell 100% of goods into domestic market.

  • One-stop approvals for permits, operating license.

  • 100% foreign ownership of investments.

  • Nigerian Postal Service (NPS)

RESIDENTIAL, HOUSING AND COUNSTRUCTION

Fact Sheet

Nigeria’s manufacturing sector is among the largest in Africa, with numerous opportunities. The sector contributes approximately 10-11.5% of total Gross Domestic Product (GDP) each year in Nigeria. In 2021, agriculture contributed around 23.36% to Nigeria’s GDP, 31.41% came from industries, and 43.79% from the services sector.

The National Development Plan (NDP) (2021 to 2025), outlines Government’s policy objectives and targets for Manufacturing and Industrialization. In the Plan, the Government’s goal is to improve infrastructure, stabilize the macroeconomy, and remove regulatory constraints to encourage investment in the manufacturing sector. The target of the plan is to:

  • Increase the sector’s contribution to GDP from 11.64% to 13%.

  • Increase financing for manufacturing and Banks credit allocation to manufacturing activities from N3 .2 trillion to N 6.5 trillion.

  • Improve the sector’s value chain integration share to exports from 7. 7% to 20% by promoting domestic sourcing of manufacturing inputs.

  • National Building Code, 2006

  • The Land Use Act, 1978

  • The Environmental Impact Assessment Act, 1992

  • The National Environmental Standards and Regulations Enforcement Agency Act, 2018

  • Urban and Regional Planning and Development (Amendment) Laws, 2019

  • National Building Code 2006

  • Public Procurement Act 2007

  • Provision and delivery of heavy construction equipment and materials, and building materials.

  • Residential Housing

  • Complete tax holiday from all forms of taxes, rates and levies.

  • Enjoy immigration waiver on expatriate quota.

  • One-stop approvals for permits, operating license.

  • 100% foreign ownership of investments.

  • Federal Ministry of Works and Housing

  • Council of Registered Builders of Nigeria (CORBON)

  • National Environment Management Authority (NEMA)

INVEST IN EEC

EEC provides complete tax holiday from Federal, State and Local Governments along with tax exemptions on proceeds reinvested; interest on bonds and short-term securities; duty free importation of capital goods, machinery and components, spare parts, raw materials, and consumable items; waiver on all expatriate quotas; etc. for companies operating within the zone.

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