Doing Business In Nigeria: The Regulatory Framework

Nigeria, with a population of over 220 million¹, is the most populous nation in Africa. Huge business potential abounds in the nation. Prospective investors must fully comprehend the business environment, notably the legal and regulatory framework for conducting business within the Country, due to the peculiar nature of the Country. Given that different industries have their peculiar regulatory requirements, therefore a need to fully understand the terrain one wants to venture into and what obtains there.

This article seeks to address the key regulatory frameworks for doing business in Nigeria

1. Company Registration:

The Company and Allied Matters Act (CAMA) provide that all foreign entities or any entity at all must register their business in Nigeria with the Corporate Affairs Commission before they can conduct or operate a business in Nigeria. According to the Ministry of Interior's Handbook on Expatriate Quota Application, Revised 2022, A foreign investor