past decade the Government of Nigeria has vigorously pursued economic
policies aimed at liberalizing and promoting competition and investments
in the Nigerian economy.
reaffirm its commitment to market-led economy, the Government has
enacted and continued to update relevant Legal Instruments that hitherto
contained provisions inhibiting competition and investment in Nigeria.
Furthermore appropriate incentives dare continuously being put in place
to encourage and promote private investments.
establishment of NIGERIAN INVESTMENT PROMOTION COMMISSION (NIPC) under
DECREE NO. 16 of 16th January 1995 gives full legal backing for Direct
Foreign Investment in Nigeria. Under the Decree, NIPC is given full
powers to encourage, promote and co-ordinate all investments in the
repealed the Industrial Development Coordination Committee Decree No. 36
of 1989 as well as the Nigerian Enterprises Promotion Decree of 1989.
January, 1998, the Government announced that a total of 12 laws and
legal instruments which were found to contain provisions inhibiting
competition in related sectors of the economy will be repealed and/or
result, this new Investment Code is designed to give a detailed guide
for both domestic and foreign investors wishing to establish business in