Conducive Business Climate
Nigeria offers the basic facilities required to do business in the country. These are:
- A fairly well developed infrastructure
- Dynamic banking community
- Relaxed foreign exchange regulation
- Existing Stock Exchange for raising of capital
- Large local market for industrial commodities
- Good accommodation facilities (world class) in major cities
- Fixed and mobile telecommunication systems
- Several private and state owned airlines with daily flights between major cities
- A large commitment by government to privatization of state owned companies.
- Existing joint venture opportunities in several projects.
Foreign nationals desiring to do business in Nigeria will need to:
- Incorporate a new company or a Nigerian branch of their company. This is achieved through the Corporate Affairs Commission.
- The new company may also be registered with the Nigerian Investment Promotion Council.
The various ministries in charge of regulating a particular business interest will have their own specific guideline. The one stop shop for all necessary backup information is in the National Investment Promotion Council (NIPC) Maitama-Abuja.