Ecolex Logo
The gateway to
environmental law
Search results » Legislation

Nigerian Investment Promotion Commission Act.

Country/Territory
Nigeria
Document type
Legislation
Date
1995
Source
FAO, FAOLEX
Original source
CAP n. 117
Long title
An Act to establish the Nigerian Investment Promotion Commission, to encourage and promote investment in the Nigerian economy, and for matters connected therewith.
Subject
General
Keyword
Framework law Institution Financing Sustainable development
Geographical area
Africa, North Atlantic, Western Africa
Abstract

This Act here establishes the Nigerian Investment Promotion Commission, and regulates related necessary administrative and technical aspects. There shall be for the Commission, a Governing Council which will be responsible for the discharge of the functions of the Commission. The Commission shall encourage, promote and co-ordinate investment in the Nigerian economy and accordingly, shall (a) be the agency of the Federal Government to co-ordinate and monitor all investment promotion activities to which this Act applies; (b) initiate and support measures which shall enhance the investment climate in Nigeria for both Nigerian and non-Nigerian investors; (c) promote investments in and outside Nigeria through effective promotional means; (d) collect, collate, analyze and disseminate information about investment opportunities and sources of investment capital, and advise on request, the availability, choice or suitability of partners in joint-venture projects; (e) register and keep records of all enterprises to which this Act applies; (f) identify specific projects and invite interested investors for participation in those projects; (g) initiate, organize and participate in promotional activities, such as, exhibitions, conferences and seminars for the stimulation of investments; (h) maintain liaison between investors and Ministries, Government departments and agencies, institutional lenders and other authorities concerned with investments; (i) provide and disseminate up-to-date information on incentives available to investors; (j) assist incoming and existing investors by providing support services; (k) evaluate the impact of the Commission in investments in Nigeria and make appropriate recommendations; (l) advise the Federal Government on policy matters, including fiscal measures designed to promote the industrialization of Nigeria or the general development of the economy; (m) perform such other functions as are supplementary or incidental to the attainment of the objectives of this Act.

Full text
English
Website
www.nipc.gov.ng