Invest in Abuja
Abuja is a well-planned city with a population of over 2 million people. Transportation, housing and other infrastructure in Abuja are one of the best in the West African region.
Abuja consistently ranks amongst the best states in Nigeria in the doing business in Nigeria rankings and is the easiest city in the country to start a business. Real Estate, Hospitality, Transport, and Financial services are some of the sectors that promise a high return on investment.
There are other reasons to invest in Abuja, and Nigeria as a whole. Privatization of all sectors formerly monopolized by Government corporations have all resulted in tremendous returns for investors in spite of negative market assessments prior to each round of privatization.
Investors in the Television, Telecommunications, and now Power sectors are catering to a large market base whose proven purchase power have helped investor companies raise their revenue exponentially. The Nigerian Government recognizes the private sector as the ‘engine of growth and creator of wealth’ and so is the main focus of ongoing reforms being implemented since the country’s return to democracy. These are some incentives available for anyone willing to setup business in Abuja:
- Access to land via the FCT Land Swap initiative
- Tax Incentives like the Pioneer status, “Local Value added” Enterprises, Local raw materials utilization, Labor intensive production, etc.
- The Nigeria Export Processing Zone Authority (NEPZA) is developing additional exports processing zones in different parts of the country
- Nigeria is a signatory of the Multilateral Investment Guarantee Agency MIGA of the World Bank which issues guarantees against non-commercial risks
- Very successful privatization programme
- Considerably large Economic Community of West African States (ECOWAS) market. (250 million people).
- Non-oil sector export incentives like the Export Expansion Grant and the ECOWAS Trade liberalization scheme
- Competitive labor costs
- Export promotion of locally made goods