ARTICLE
9 January 2025

Legal Requirements For Foreign Direct Investment In Nigeria

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Tope Adebayo LP

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Established in 2008, Tope Adebayo LP offers holistic solutions in energy, disputes, and corporate transactions. Our diverse team crafts bespoke strategies for clients, driving industry wins and growth. We are a one-stop shop, licensed for legal, finance, and corporate services, with a global network for seamless cross-border transactions.
Foreign Direct Investment ("FDI") plays a pivotal role in fostering economic growth and development in nations. The concept of FDI involves a financial investment made by a company or individual from
Nigeria Government, Public Sector

Foreign Direct Investment ("FDI") plays a pivotal role in fostering economic growth and development in nations. The concept of FDI involves a financial investment made by a company or individual from one country into another country with the intent of acquiring significant control in the foreign entity. It provides essential skills, technology advancement and financial resources, which are instrumental in enhancing the economies of developing countries. In 2021, Nigeria received $45.1 in FDI, constituting approximately 0.8% of the nation's Gross Domestic Product ("GDP"). Given the importance of attracting FDI into the country, Nigeria continues to improve on its ease of doing business more so, the nation's dynamic business landscape and its huge human resources make it a prime destination for Brownfield and Greenfield investments.

There are policies guiding FDI in Nigeria. this includes registration of a preferred business entity with the country's Corporate Affairs Commission ("CAC") and obtaining the necessary business permits and expatriate quota from the Federal Ministry of Interior

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Originally published on 20 September 2023

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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