Principal Laws on Foreign Investments
The principal laws regulating foreign investments are the Nigerian Investment Promotion Commission Decree No. 16 of 1995 and the Foreign Exchange (Monitoring Miscellaneous Provisions) Decree No. 17 of 1995.
Deregulation of Equity Structure in Nigeria Enterprises
Effectively, the Nigerian Enterprises promotion (Repeal) Decree No. 7 of 1995 has abolished any restrictions, in respect of the limits of foreign share holding, in Nigeria registered/domiciled enterprises.
The only enterprises which are still exempted from free and unrestrained foreign participation are those involved in:
- Production of arms and ammunition;
- Production of and dealing in narcotic drugs and psychotropic substances;