Trade & Investment

Investment Incentives

Government has deliberately designed investment incentives to support private sector participation in all sectors. While some of these incentives are in form of tax holiday, exemptions, and reliefs, there are many more that leverage on specific government policies, performance of the companies as well as relevant international investment treaties. Some of these are:
• Income tax relief for specified period such as three years in some cases and which could be extended for a period of one year and thereafter another one year or for one period of two years – Pioneer Status Incentives
• Zero Import Duty: Zero percent import duty tariffs (custom, excise and value added) for import of agricultural equipment and agro-processing equipment.
• Exemption of interest from tax on loans granted to agricultural activities, for example.
• Exemption from Value Added Tax (VAT).
• Access to Agricultural Credit Guarantee Scheme which is up to 75%.
• Avoidance of double taxation agreement which eliminates double taxation with respect to income and capital gains.
• Investment promotion and protection agreement provides reciprocal baseline protections for investments.
• Nigeria qualifies for the Africa Growth and Opportunity Act (AGOA).

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