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Nigeria’s energy and natural resources industry is central to the economy. With a rapidly expanding population, the country is also turning to renewable energy to bring power to its urban and rural communities and to diversify its energy sources. The country is investing in electricity, solar power projects and hydropower, as the demand for energy by 2020 will almost double from current levels. Nigerian and international companies are seeking to capitalise on its rich natural resources and expanding business opportunities.
23 May 24
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To encourage investment, the government’s unwavering commitment to establishing an environment conducive to investment is exemplified through its endeavors to harmonise investment laws and policies, thereby facilitating market entry and expansion. These proactive measures have engendered a steady increase in investor confidence, increasing prospects for large-scale investments across various aspects of the energy and natural resources sectors. Furthermore, they have provided major mining and oil and gas sector players with renewed opportunities to engage in negotiations. There are also several investment incentives to attract foreign investment into the country, including tax holidays, import duty exemptions, and investment guarantees.
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Should you have any questions about this power guide do not hesitate to contact Kofo Dosekun, Olubunmi Fayokun, Oghogho Makinde, Oludare Senbore or Cephas Caleb.