Promoting and facilitating investment in Nigeria

Investment promotion and facilitation measures, including incentives, can be effective instruments to attract investment, provided they aim at correcting market failures and are developed in a way that can leverage the strong points of a country’s investment environment. This chapter provides an analysis of the framework for investment promotion and facilitation in Nigeria. It examines existing strategies and institutions governing investment promotion and facilitation with a particular focus on the Nigerian Investment Promotion Commission. It highlights important measures that have been taken by the government to improve the business environment and attract foreign investment in various sectors of the economy. It also provides recommendations on the investment incentives regime as well as on actions to encourage business linkages and other policies to boost foreign investments’ spillovers on domestic small and medium-sized enterprises.