The level of UK investment in Nigeria is currently in the region of £1bn, the leading investors Shell, Unilever,Cadbury,Guinness, Standard Charter Bank, Blue Circle Industries and British Airways. New investors continue to find opportunities in Nigeria though mostly on a small scale.

The new Nigerian government is keen to regain the confidence of the international investment community and is working to improve the image of Nigeria abroad, which suffered greatly under military rule. The Nigerian Investment Promotion Commission (NIPC) was set up as part of the effort to encourage investment. View their web site at www.nipc-nigeria.org

The commission has sole responsibility for all investment approvals including the issue of permits and licenses. The commission aims to speed up the process for new investors and to consolidate existing investments. Any companies considering investment in Nigeria should contact the commission at an early stage of negotiations.

For a guide to the assistance available to overseas investors from UK Trade & Investment and information on various schemes to help overseas investors, please visit our pages on Overseas Investment.

Business Permit
A permit allows foreign investors to hold shares in a Nigerian Company. Applications are made to NIPC (Contact details above). Please allow two months from the initial application to receive the permit.

The following documentation is required with an application to set up a partly foreign owned company

• registration as an incorporated company
• Business permit from the Nigerian Investment Promotion Council (NIPC) Contact details:
  NIPC
  Plot 1181, Aguiyi Ironsi Street
  Maitama District
  PMB 381, Garki
  Abuja
  Tel: 00 234 9 5231403 Fax: 00 234 9 5234306
  Enquiries to:
  Engr. Akin Sawyerr
  Sawyerr@nipc_nigeria.org

• Expatriate quota position approvals from NIPC, to allow expatriates to hold technical and management positions
• Security and Exchange Commission (SEC) approval to issue shares to foreigners. Contact:
  Email: sec_ng@compeserve.com
  Tel: 00 234 1 2641252
  Fax: 00 234 1 2644541
  

• Filing of returns at the Corporate Affairs Commission (CAC), to reflect allotment of Shares
  Contact: [http//www.cac.gov.uk]
  Email: info@cac.gov.ng
  Tel: 00 234 9 3142917
  Fax: 00 234 9 3142669

Incorporation
Forms are obtained and submitted at the CAC. This requires the following documentation:

• Consent letters signed by a minimum of two directors
• Notice of the registered address
• Statement of authorised share capital of the company
• Memorandum and articles of association

A letter from the CAC confirming receipt of the documents is issued after the submission, this usually takes about two weeks.

A lists of Lawyers and Accountants is available from UK Trade & Investment's Nigeria Team on Tel: 020 7215 4968.

The Federal Ministry of Employment, Labour and Productivity regulates Labour matters.
Contact:
Block 4A
Federal Secretariat Complex
Shehu Shagari Way
PMB 04 Garki
Abuja
Tel: 00 234 9 5235980
Fax: 00 234 9 5235974

The Trade Union Director office can be contacted on: Tel: 00 234 9 5235974

Requirements to live and work in Nigeria

CERPAC ID CARDS (Combined Expatriate Residence Permit and Aliens Card)

This is the new Residence Permit for expatriates except (ECOWAS) citizens, accredited diplomats and children below the age of 16 years.

All British nationals resident in Nigeria are required to apply for the new cards except children below the age of 15 who live with their parents unless the parents specifically request the card

Any British National staying in Nigeria for more than 56 days will have to obtain an Aliens Card

British nationals relocating to a different part of Nigeria will have the inform the nearest Aliens Office of the move. Also if a British national holding an Aliens Card leave Nigeria permanently then the Card has to be handed in to the Aliens Office

Application forms can be obtained from any branch of AFRIBANK. The fee is US$350. On payment and submitting the completed application form, a temporary receipt is given. This receipt should be carried at all times as proof of residence. Applicants will then be told when and where to collect their cards.

Business Organisations

Lagos Chamber of Commerce and Industry
Commerce House, 1 Idowu Taylor Street, Victoria Island
Tel: 00 234 1 613 911/613 906

Founded in 1888 to promote members' business interest. Many trade groups represented includes automobiles, banking, construction, shipping, oil producing trade etc.

Nigerian-British Chamber of Commerce
Ebani House, 149/153 Broad Street, Lagos Island
Tel: 00 234 1 266 0298

Aim is to further interests of Nigerian companies doing business in the UK and of British companies investing in Nigeria.