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The following incentives have been provided by the government to investors:
Available land for allocation to interested investors (Over 50,000 ha of land available for land clearing).
Industrial hubs with available infrastructure
(Power, Water and Security) for shared services, with potential synergies and value chain opportunities – 10,000ha of industrial hubs to be developed.
3 licensed FTZs (Largest number in Nigeria), including the Olokola FTZ which has the deepest shore in Nigeria and 2nd deepest shore in Africa.
Tax holiday for FTZs
Rebates on select levies and charges
Rebates on land acquisition costs
One-stop-shop to facilitate investments
Industrial hubs for special services and value chain optimisation
Unlimited reparation of foreign exchange earnings
100% foreign ownership of investmets
Free transferability of capital, profits and dividends by foreign investors
Tax holiday for investmet in identified industries/profucts approved as pioneer industry/product for a maximum period of 5 years
Duty-free, tax free on import of raw materials for goods destined for re-export
Waiver on all import and export licences
Waiver advantage on expatriate quota for companies operating in zones