INVESTMENT PROCEDURES WITHIN THE NIGERIA EXPORT PROCESSING ZONES (EPZ)
If the application is approved the investor may proceed to carry out the following:
Apply for company registration. In the case of the outright purchase of factory building, a payment of 10% deposit of the selling price of the standard factory building must be made within 3 months of approval, and a payment of the balance 90%, 5 months after
Renting of factory building
- Down payment of one-year rent required not exceeding 3 months after signing the rental contract.
- Thereafter, rental charges shall be paid in the first quarter of every year.
Leasing the standard factory
- Payment of 40% lease value on approval
- Payment of 30% at the end of the 5th year
- Payment of 30% balance at the end of the 10th year.
Leasing of serviced plots
- Down payment of 40% on completion of factory building
- 30% at the end of the 5th year
- 30% at the end of the 10th year
Construction must be completed within a period of one year which can be extended for another 6 months.
A plan of the building shall be submitted to the Authority for approval. The land lease contract shall be signed within 2 months after allocation of land. The area occupied by such building shall be between 60%-70% of the leased land and construction shall start within 3 months after signing the lease contract
TYPES OF INDUSTRIES PERMISSABLE IN NIGERIA EXPORT PROCESSING ZONES
- Electrical and Electronic Products
- Leather Products
- Plastic Products
- Petroleum Products