INCORPORATING A BUSINESS ENTERPRISE: METHODS OF CONDUCTING BUSINESS IN NIGERIA

Legal Framework for Business Activities

Methods of Conducting Business
All business enterprises must be registered with the Registrar-General of the Corporate Affairs Commission (Registrar of Companies). A foreign investor wishing to set up business operation in Nigeria should take all steps necessary to obtain local incorporation of the Nigerian branch or subsidiary. Business activities may be undertaken in Nigeria as a :

LIST OF FEDERAL MINISTRIES IN NIGERIA AND HEAD OFFICE

FEDERAL MINISTRY OF AGRICULTURE AND NATURAL RESOURCES
Fed. Capital Territory Office
Complex Block A, Area 11 (Eleven)
P.M.B. 135, Garki, Abuja, FCT
Tel: 09-2341931

NIGERIA PEOPLE AND CULTURE

Because of the great diversity of people and culture, Nigeria has distinguished herself over the centuries in the field of arts. Nigerian versatility in art is so great that it is generally felt that all African nations should view Nigeria as the principal trustee of the most durable fruits of black artistic genius. It is not precisely known when the first works of Nigerian art reached the outside world, but in 1897, following a British punitive expedition to Benin, over 2,000 Benin bronzes and ivories were shipped to England and later dispersed all over Europe and America.

NIGERIA PORT AUTHORITY, SHIPPERS’ COUNCIL ON COLLISION COURSE OVER BERTH RENT

The Nigerian Ports Authority, NPA and Nigerian Shippers Council, NSC, are set for a show down following the recent increase in  berth rent by the Port Authority without consultation with the NSC.
This is even as the Executive Secretary of NSC, Hassan Bello, said the collection should be stopped immediately.

FISH SUFFICIENCY IN NIGERIA

Nigeria last week took delivery of a deep sea vessel constructed by Remomtowa Holdings for the Nigerian Institute of Oceanography and Marine Research at a ceremony witnessed by the first lady,  Dame  Patience Jonathan in Gdansk, Poland.

NIGERIA TO INCREASE NON-OIL EXPORTS TO ECOWAS TO N116.5BN BY 2015

                                                                         

Nigeria is targeting a quantum increase of its non oil exports to the Economic Community of West African States (ECOWAS) to N116.5bn by 2015, the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, has said.

THE NIGERIA STATE

Much has been said and written about Nigeria, her people and culture, economy and politics, that sheds light on the tremendous potential of this African Giant. However, little is known to the outside world about the many exciting tourist attractions available in Nigeria: Historic sites nestled amid rivers and rain forests, breathtaking mountain vistas, remote creek villages, miles of pristine beaches and exotic national wildlife reserves. There are also museums, festivals, music and dance, a rich cultural melange right down to everyday traditional markets. These are just some of the spectacular sights and sensual delights awaiting the traveler to Nigeria.
Nigeria has the largest population of any country in Africa (about 120 million), and the greatest diversity of cultures, ways of life, cities and terrain. With a total land area of 923,768 sq. km. (356,668 sq. mi.) Nigeria is the 14th largest country in Africa. Its coastline, on the Gulf of Guinea, stretches 774 km (480 mi.). Nigeria shares its international border of 4,470 km (2513 mi.) with four neighbors: Chad, Cameroon, Benin, and Niger. Until 1989 the capital was Lagos, with a population of about 2,500,000, but the government recently moved the capital to Abuja.

NIGERIA NON OIL EXPORT HITS US$2.970BN

The Nigerian Export Promotion Council, NEPC, has disclosed that, Nigeria realised $2.970 billion from non-oil export, in 2013 a 15.9 per cent increase over $2.561 in 2012.
                                                     

Disclosing this at the business meeting tagged” A New Dawn For Nigerian Export” organised by the Nigerian-British Chamber of Commerce, NBCC, the Executive Director/CEO, NEPC, Mr. Olusegun Awolowo, said Nigeria’s export is dominated by oil, but that, there has been steady growth in Non-oil export to $2.970 billion in 2013, a 15.9 per cent increase over $2.561 in 2012.

NIGERIA, UK TRADE TO HIT 20BN POUNDS BY 2020

                                                             

There are indications that trade between Nigeria and Britain has potential to hit 20 billion pounds by year 2020 if government remains proactive and encourage business to strive.

President, Nigerian-British Chamber of Commerce (NBCC), Prince Yemi Adefulu, gave the hint during a press briefing heralding its Centenary celebration in Lagos.

A CALL TO INDIGENOUS COMPANIES TO SOURCE RAW MATERIALS LOCALLY

The Federal Government of Nigeria has called on companies to source their raw materials locally as this will create markets for farmers, boost their income and employment.
Dr. Akinwunmi Adesina, the Minister of Agriculture and Rural Development (FMARD) made the call while commending Nestle Nigeria Plc for buying raw materials for its seasoning, cereal and beverage product from local farmers.

NIGERIA GOVERNMENT BOOSTS MECHANISED FARMING WITH N50BN

                                                                    

            THE Federal Government has approved N50 billion to boost mechanised farming.

Consequently, President Goodluck Jonathan has directed the Central Bank of Nigeria, CBN, to set aside the fund for full scale mechanised farming in the country.
The President disclosed this at the commissioning of the new 100, 000 metric tonnes silo complex and the flag-off of private sector-driven agricultural equipment hiring enterprises at Sheda, Kwali Area Council, Abuja.

NIGERIA AGRICULTURAL SECTOR, INVESTMENT OPPORTUNITY BY STATE

OPPORTUNITIES IN AGRICULTURE: 

The agricultural potential of Nigeria is barely being tapped and this explains the inability of the country to meet the ever increasing demand for agricultural produce. Although the agricultural sector remains a dominant employer of labour, serious investment is needed across the board to enhance production and increase the contribution of the sector to GDP. Investment is required in the following priority activities:

NIGERIA, DESTINATION OF CHOICE FOR US INVESTORS – COMMERCE SECRETARY

Nigeria is currently a destination of choice for American investors, the United States Secretary of Commerce, Ms. Penny Pritzker, has said.
She said during a bilateral meeting with the Minister of Industry, Trade and Investment, Olusegun Aganga, in Lagos on Thursday, that Nigeria currently had enormous investment opportunities which  American investors were willing to explore.