Indian Industry

Country Profile

Nigeria
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Situated in the west africa, nigeria has its coastline in the gulf of guinea which is the part of the atlantic ocean from the south side. It is the federal constitutional republic with 36 states and 1 federal capital territory. Nigeria is recognized as the most populous nation of the africa. It encompasses of the regional power therefore has been placed in the list of ‘Next Eleven’ economies. Nigeria has the total area of 923,768 sq km, which can be segregated into 910,768 sq km & 13,000 sq km land and water area respectively. Nigeria is highly endowed with the natural resources like natural gas, petroleum, tin, iron ore, coal, limestone, niobium, lead, zinc etc.

Snapshot

Official Name - Federal Republic of Nigeria
Capital City - Abuja
Type of Government - Presidential Federal Republic
Currency - Nigerian Naira
Fiscal Year - Calendar Year
Official Language(s) - English
Local Time - WAT(UTC+1)
International Dialling Code - +234
Internet Domain - .ng
Major Towns & Cities - Ibadan, Kaduna, Kano, Lagos, Port Harcourt
Major Industries - Crude Oil, Coal, Tin, Columbite, Palm Oil, Peanuts, Cotton, Rubber, Wood, Hides and Skins, Textiles, Cement and Other Construction Materials, Food Products, Footwear, Chemicals, Fertilizer, Printing, Ceramics, Steel, Small Commercial Ship Construction and Repair
Major Trading Partners - USA, Brazil, Spain, China, Netherlands
Double Taxation Treaty with India - No



Economic Overview
  • The country is the largest oil producer in africa.
  • It is blessed with the high quantities of tin, coal, iron ore, zinc and some uranium and is highly rich in terms of natural gas and coal which needs to be untapped.
  • Half of the population is earning their livelihood from the agriculture and allied activities and is producing rice, maize, groundnuts, rubber etc.
  • Nigeria’s manufacturing sector includes areas like vehicle production, textiles, pharmaceuticals, paper, cement etc.
  • It is recognized as the eminent member of the OPEC.
  • One of the most fastest growing economy in the international arena as the International Monetary Fund has projected its growth to be 9 per cent in 2008 and 8.3 per cent in 2009.
International Trade

Major Export Items
Petroleum and Petroleum Products, Cocoa, Rubber

Main Destinations of Exports
United States, Brazil, Spain

Major Import Items
Machinery, Chemicals, Transport Equipment, Manufactured Goods, Food and Live Animals

Main Origins of Imports
China, Netherlands, USA, UK, Brazil, France, Germany

Contacts of Trade Ministries/ Associations

ICC Nigeria Franco-Nigerian Chamber of Commerce & Industry Nigerian-American Chamber of Commerce
c/o Nigeria Employers' Consultative Association
6th Floor, Elephant Cement House
Central Business District
Alausa, Ikeja, Lagos
Nigeria
E-mail: info@iccnig.com

Plot 232A, Adeola Odeku Street
P.O. Box 7001, Victoria Island, Lagos
Nigeria
Tel.: +(234)-(1)-2621424/ 2621424
Fax: +(234)-(1)-2621422

Marble House (8th floor), 1, Alfred Rewane Road
Falomo, Ikoyi, G.P.O. Box 8508, Lagos
Nigeria
Tel.: +(234)-2692088/ 2693041
Fax: +(234)-2693041

Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture Manufacturers Association of Nigeria(MAN) Cassava Produce Promoters & Exporters Association of Nigeria
8A, Oba Akinjobi Way
Gra Ikeja,Lagos
Nigeria
Tel.: +(234)-(1)-7612099/ 4964727/ 4932481
Fax: +(234)-(1)-4964737
E-mail: contact@naccima.com

MAN House 77, Obafemi Awolowo Way
Ikeja, Lagos
Nigeria
Tel.: +(234)-(0)-14974240/3
Fax: +(234)-(0)-14974247
E-mail: man@manassoc.org or man@manufacturersnigeria.org

Willand Plaza, Plot 511 Herbert Macaulay Way
Wuse Zone 4, FCT
Nigeria
Tel.: +(234)-(803)-7003916
Fax: +(234)-(803)-7003916

Nigerian Investment Promotion Commission Nigeria-Taiwan Chamber of Commerce & Industry Nigerian-South African Chamber of Commerce
Plot 1181 Aguiyi Ironsi Street
Maitama District P.M.B. 381 Garki Abuja
Nigeria
Tel.: +(234)-(9)-4134317/ 4134373/ 4134112/ 4131403

C/o Taipei World Trade Centre, Bankers' House
Plot 19c, Adeola Hopewell street, Victoria Island, Lagos
Nigeria
Tel.: +(234)-(1)-2620895
Fax: +(234)-(1)-2620896

K & P Towers, 24 Norman Williams Street
S.W. Ikoyi, Lagos
Nigeria
Tel.: +(234)-(1)-7949870/ 2707430/ 4811529/ 2671294
Fax: +(234)-(1)-2707430/ 2671294


Business Visa Rules
  • The permit is issued for 90 days which can be extended later.
  • Letter of invitation from the company or business associate of nigeria.
  • Valid passport with 6 months validity.
  • The applicant is needed to give a letter stating its purpose of visiting nigeria along with the proof of returning back to the home country. In this case copy of the return air ticket or a letter from the travel agency can be submitted.
  • The applicant is required to give proof of his/her financial viability for the duration of their staying in the nigeria.
Business Hours

Offices:   Monday to Friday from 08:00 - 16:00

Public Holidays

Festival Date
New Year's Day January 01
Easter Date Varies
Mouloud (Birth of the Prophet) Date Varies
Workers' Day May 01
Independence Day October 01
Eid al-Fitr (End of Ramadan) Date Varies
Eid al-Kabir (Feast of the Sacrifice) Date Varies
Christmas December 25-26
nigeria


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