Foreword
A new watershed to resuscitate Nigeria's ailing economy commence on May 29^th 1999 with the advent of the democratic government of President Olusegun Obasanjo. The President, had pronounced "Job creation and creation of conducive environment for investment as one of the priority issues which his administration is set to tackle to turn the economy around.

The response by the international community to the democratic change in Nigeria is positive and cheery. Office more, Nigeria has become the focus for foreign investment information enquiries. The country's potentials in terms of her huge natural resources, large and agile population further elevates her to a prominent position - an attractive, haven for investment. Prior to this, the Nigeria economic policy thrust, had shifted decisively towards liberalisation and globalization, principally to encourage increased private sector investment in the economy. A commercialisation and privatisation programme of public enterprises had been instituted. A broad invitation had been extended to domestic and foreign investors in the areas of telecommunications, electricity generation, exploration of petroleum export refineries, coal and bitumen exploration, hotel and tourism. Subsequently, all laws inhibiting competition in these sectors of the economy have been repealed. The Administration swiftly embraced and fine tuned these policies to ensure the speedy realisation of the developmental aspirations of the Nigerian people.

With the aforementioned developments, we have received a deluge of investment enquiries. Scores of economic missions and delegations from South Africa, The United States of America, Japan, China, Canada, Venezuela and others have visited Nigeria.

The publication of this handbook, Business Opportunities in Nigeria by the Nigerian Investment Promotion Commission, (NIPC) is responsible to the need to constantly update investment information. The book presents sectoral investment opportunity which I am sure will offer viable and profitable business project to the potential investor.

I recommend this document to every business group interested in doing business in Nigeria.

Chief Lawrence Nwuruku
Hon. Minister of State for Industry. Go to Top

Preface
The general contention, is that, for a country to develop rapidly, it has to industrialise, for a country to industrialise there must be investment, since the industriallsed countries appear to be the most developed. However, to do this, a country requires substantial capital injection, which is possible through either earnings of foreign exchange from exports; borrowing in the international financial market; or allowing foreign businessmen to invest in her economy. Since the dawn of the new democratic government in Nigeria, on 29^th May, 1999, the expectation of the Nigerian people has been for a turn around of the economic fortunes of the nation for the better. The full exploitation of the natural resources of the nation ranging from agriculture to solid minerals, petroleum deposits to coal and bitumen and other too numerous to mention here- require a massive injection of investment capital. Suffice it to say here also, that the existence of a market of over 100 million people who require the provision of adequate communications, power and transportation services further extends the demand for investment in Nigeria.

There has been of recent growing interest and goodwill expressions by the International Community to the positive changes in the Nigerian political scene. This is gradually being translated to economic intentions considering the numerous trade and investment missions from many countries that have come to explore the investment potentials of a new Nigeria. The government’s stance towards the attraction of more investment resources is indicated by its resolve to expand and consolidate the economic liberalisation and globalisation structures already on the ground. Furthermore, the proper definition and renewal of governments commitments to the privatisation programme has opened new opportunities for business. A lot of enquiries continue to flow in to the Nigerian Investment Promotion Commission (NIPC), from investors Wishing to stake their investments in the country.

The NIPC, therefore, in line with its mandate to constantly provide up-to-date information on investment opportunities and issues, now offers investors, this document on Business Opportunity in Nigeria. The evolving opportunities in the Communications, Power and Steel, solid Minerals, Maritime and Railway Transportation sectors, the tourism and Export Processing Zones have been highlighted to complement the profitable ventures already available to complement the profitable ventures already available from agricultural production and agro processing sectors and the oil and gas sector.

The commission is more than ever, committed to providing the investor the reliable and trusted back-up services to facilitate the establishment of new enterprises in Nigeria.

The content of this document is a collective effort on the true sense of the word. NIPC has benefited from the material received from various ministries, prostates and other government agencies. This is fully acknowledge.

It is therefore, my honour to present this document to the investing public. I hope it will serve a useful tool for investors.

Alhaji Baba Bukar Gujbawu
The Chief Executive/Secretary,
Nigerian Investment Promotion Commission

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