Investor Presentaiton
Free Trade Zones & Nigeria Tax Regime
The Legal Framework: Setting the Context (cont'd)
- Nigerian investment liberalized since mid 1990s:
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Exchange Control Repeal Act 1995
- Nigerian Enterprises Promotion Repeal Act 1995
- Nigerian Investment Promotion Commission (NIPC) Act
No. 16 of 1995, now Cap. N117 LFN 2004)
- Foreign Exchange (Miscellaneous & Monitoring Provisions)
Act (No. 16 of 1995, now Cap. F34, LFN 2004
Some Other Developments
- Return to democracy in 1999. Not a magic wand - President Obasanjo's
globe trotting didn't bring in much FDI.
- Banking consolidation
- Mobile telecoms revolution
- Decaying infrastructure - power sector particularly bad
- Corruption and anti-corruption: still major issue for business
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