INVESTMENT OPPORTUNITIES IN NIGERIA 

Legal Framework for Investment and Business Activities

All business enterprises must be registered with the Registrar-General of the Corporate Affairs Commission (CAC) – the registrar of companies in Nigeria. A foreign investor wishing to set up a 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 one of the following:

  • Private or Public limited liability company
  • Unlimited liability company
  • Company limited by guarantee
  • Foreign Company (branch or subsidiary of foreign company)
  • Partnership/Firm
  • Sole Proprietorship
  • Incorporated trustees
  • Representative office

Incorporating a Business Enterprise in Nigeria

The Companies and Allied Matters Act, 1990 (the Companies Act) is the principal law regulating the incorporation of businesses. The administration of the Companies Act is under-taken by the Corporate Affairs Commission (CAC) and its functions include:

  • Regulating and supervising the formation, incorporation, registration, management and winding up of companies
  • Maintenance of a Companies Registry
  • The conduct of an investigation into the affairs of any company in the interest of shareholders and the public.

Incorporating a Business Enterprise in Nigeria

The Companies and Allied Matters Act, 1990 (the Companies Act) is the principal law regulating the incorporation of businesses. The administration of the Companies Act is under-taken by the Corporate Affairs Commission (CAC) and its functions include:

  • Regulating and supervising the formation, incorporation, registration, management and winding up of companies
  • Maintenance of a Companies Registry
  • The conduct of an investigation into the affairs of any company in the interest of shareholders and the public.

REQUIREMENT FOR TRADE DOCUMENTS ENDORSEMENT TO NAFDAC

    1. A letter on the company’s letter-head paper addressed to the High Commissioner (Attention Trade & Investment Section), indicating documents to be endorsed;
    2. Manufacturing Licence from MITI (Ministry of International Trade & Industry) duly Notarised and endorsed by Ministry of Foreign Affairs;
    3. Free Sale Certificate from Ministry of Health/Certificate of Pharmaceutical Product (CPP), duly Notarised and endorsed by Ministry of Foreign Affairs;
    4. Power of Attorney with the Nigerian partner company, duly Notarised and endorsed by Ministry of Foreign Affairs;
    5. Certificate of Good Manufacturing Practice (GMP), duly Notarised and endorsed by Ministry of Foreign Affairs;
    6. Certificate of Analysis for each product, duly Notarised and endorsed by Ministry of Foreign Affairs;
    7. One (1) sample of the product. Product sample bearing the same name as in the document to be submitted to the High Commission;
    8. Certificate of Incorporation of the Nigerian company (Corporate Affairs Commission – CAC) and Suruhanjaya Syarikat Malaysia (SSM);
      Additional Documents:
    9. Outlet list (shops where products are being sold in Malaysia);
    10. Colour picture of the sample product from the four sides of the packet (printed on A-4 size paper);
    11. Photocopies of all the above requirements; and
    12. Copy of expired NAFDAC Certificate (for renewal).
 

For more investor guides to Nigeria, please see the below links: