Incentives

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

Federal Level Incentives

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