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Section 23 Nigerian Investment Promotion Commission Act Section 23 Nigerian Investment Promotion Commission Act is about Priority areas. It provides as follows: (1) The Commission may issue guidelines and procedures, which specify priority areas of investment and prescribe applicable incentives and benefits, which are in conformity with Government policy. (2) Guidelines and procedures issued under…
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Section 22 Nigerian Investment Promotion Commission Act Section 22 Nigerian Investment Promotion Commission Act is about Incentives for special investment. It provides as follows: For the purpose of promoting identified strategic or major investment, the Commission shall, in consultation with appropriate Government agencies, negotiate specific incentive packages for the promotion of investment as the Commission…
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Section 21 Nigerian Investment Promotion Commission Act Section 21 Nigerian Investment Promotion Commission Act is about Purchase of the shares of a domestic company by a foreign company. It provides as follows: A foreign enterprise may buy the shares of any Nigerian enterprise in any convertible foreign currency.
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Section 20 Nigerian Investment Promotion Commission Act Section 20 Nigerian Investment Promotion Commission Act is about Registration of enterprise with the Commission. It provides as follows: (1) An enterprise in which foreign participation is permitted under section 17 of this Act shall, before commencing business, apply to the Commission for registration. (2) The Commission shall,…
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Section 19 Nigerian Investment Promotion Commission Act Section 19 Nigerian Investment Promotion Commission Act is about Establishment of an enterprise. It provides as follows: (1) An enterprise in which foreign participation is permitted under section 17 of this Act, shall not commence business, except it is incorporated or registered under the Companies and Allied Matters…
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Section 18 Nigerian Investment Promotion Commission Act Section 18 Nigerian Investment Promotion Commission Act is about Application of this Act. It provides as follows: The provisions of this Act shall not apply to “negative list” as defined in section 31 of this Act.
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Section 17 Nigerian Investment Promotion Commission Act Section 17 Nigerian Investment Promotion Commission Act is about Enterprises eligible for participation. It provides as follows: Except as provided in section 18 of this Act and subject to this Act, a non-Nigerian may invest and participate in the operation of any enterprise in Nigeria.
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Section 16 Nigerian Investment Promotion Commission Act Section 16 Nigerian Investment Promotion Commission Act is about Annual reports. It provides as follows: The Council shall, not later than six months after the end of each year, submit through the Minister to the President, a report on the activities of the Commission and its administration during…
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Section 15 Nigerian Investment Promotion Commission Act Section 15 Nigerian Investment Promotion Commission Act is about Annual estimates, accounts and audit. It provides as follows: (1) The Council shall cause to be prepared, not later than 30 September in each year, an estimate of the expenditure and income of the Commission during the next succeeding…
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Section 14 Nigerian Investment Promotion Commission Act Section 14 Nigerian Investment Promotion Commission Act is about Borrowing power, etc. It provides as follows: (1) The Council may, with the consent or in accordance with any specific authority given by the Minister, borrow by way of loan or overdraft from any source approved by the Minister,…