Investment Procedures for Export Processing Zones (EPZ)

INVESTMENT PROCEDURES WITHIN THE NIGERIA EXPORT PROCESSING ZONES (EPZ)

i) Any company, person or group of persons wishing to carry out approved activity within a zone shell apply to the Nigerian Export Processing Zones Authority NEPZA using the prescribed forms and shall submit such documents and information in support of the applications. The forms shall specify the application fees and such other details as the Authority may stipulate from time to time. A feasibility study in respect of the investment project which the applicant wishes to undertake in the zone shall be attached as an annex to the application and shall contain the following among others:

- Project description;
- Market survey;
- Funding proposals;
- Financial projections;
- Environmental impact statement and control measures.

ii) Application to undertake approved activity in the zone duly received, shall be considered by the Authority within 30 days of receipt and the Authority shall notify the applicant in writing og its decisions to grant the said approval or otherwise. The approval shall be subject to such terms and conditions as may be imposed by the Authority.

iii) If the application is approved the investor may proceed to carry out the following:

(a) Apply for company registration
(b) If outright purchase of factory building is desired

- Payment of 10% deposit of the selling price of the standard factory building within 3 months of approval;
- Payment of the balance 90%, 5 months after;

(c) 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. 

(d) 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.

(e) 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.

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