Investment Promotion Laws

In 1995, the federal government abrogated the Exchange Control Act 1962 and Nigerian Enterprises Promotion 1989, which have inhibited free inflow of foreign portfolio investment. Subsequently, the government promulgated the Nigerian Investment Promotion Commission decree No. 16, 1995 and the foreign exchange (Monitoring and Miscellaneous Provisions) Decree No 17, 1995. The new laws have opened up investment to foreign investors. It has made the market is more competitive.

 
Repatriation of Proceeds:
The Nigeria Investment Promotion Commission Decree No 16 of 1995 allows 100 percent foreign participation in Nigeria business. It allows for repatriation of capital and dividend without any inhibition from government.