Post-Incorporation Statutory Registrations

NIGERIA INVESTMENT PROMOTION COMMISSION (NIPC)

The Nigeria Investment and Promotion Commission Act provides that any enterprise in which there is foreign participation must be registered with NIPC. The Act permits foreigners to own up to 100% of any business with the exception of businesses under the negative list. The negative list includes companies involved in the production of and dealing in arms, ammunition, narcotic drugs and psychotropic substances.

TRANSFER OF TECHNOLOGY AGREEMENT APPROVAL

Any agreement under which a foreigner is to provide foreign technology, management, or assistance, to a Nigerian company must be approved by the National Office for Technology Acquisition and Promotion (NOTAP). Fees to be paid for the provision of such technology or services must be approved by NOTAP.

DEPARTMENT OF PETROLEUM RESOURCES (DPR)

Companies are required to be licensed by DPR in order to operate in the Oil and Gas Industry. Permits are issued upon application for particular operations to be carried out by a company and the fees payable depend on the category of operations for which a company applies.

REGISTRATION WITH NATIONAL AGENCY FOR FOOD AND DRUG ADMINISTRATION AND CONTROL (NAFDAC)

NAFDAC registration is mandatory for the registration of foods, drugs, cosmetics and medical devices manufactured or imported into Nigeria.

REGISTRATION WITH STANDARD ORGANIZATION...