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Fare affari in Nigeria

 

Fare affari in Nigeria

Nigeria is the main commercial partner of Italy in sub-Saharan Africa after South Africa. At year-end 2011 the Italian exportations towards Nigeria were equal to 821 million Euro (+191,31% compared to year-end 2010), whereas importations reached around 1.57 million Euro (+2,11% compared to year-end 2010). The total overall trade exchange was of 2.397 million Euro.

In June 2012 Italian imports amounted to 855.5 million Euro, and exports to 475 million Euro; imports and exports have raised in comparison with the corresponding period in 2011.

The Italian companies that are present in Nigeria are currently 157 out of which 22 are of large dimensions, 10 medium and 125 of small dimensions. Interesting prospects for our entrepreneurs occur in many areas. Besides constructions and hydrocarbons, opportunities exist in the fields of production and distribution of electricity, petrochemicals and mining, as well as in the supply of agricultural machinery and of the classic "Made in Italy":  clothing, home appliances, furniture and cars.

We should also remember the Italian presence in the shipping industry where the Italian companies’ market share is ranging around 30% of the whole Nigerian maritime traffic.

In order to operate in Nigeria foreign companies must register an enterprise under Nigerian law. Please visit the website of the Corporate Affairs Commission for further details: www.cac.gov.ng

Taxation can reach up to 30% of business income. There are facilitations in the first year and the possibility to deduct what was spent for projects of “corporate social responsibility”.

One of the problems of doing business in Nigeria is the reliability of local business partners. There are frequent cases of fake companies created for the sole purpose of defrauding international partners or for obtaining  visas. Many frauds attempts originate from the Internet.

It is recommended to contact the Commercial Office of the Embassy before embarking on binding economical negotiations with Nigerian companies, whenever there is doubt or when the reliability of the selected partner is uncertain.

There are no Italian Foreign Trade Offices in Nigeria, nor Italian-Nigerian Chambers of Commerce.

Relevant business information on how to invest in Nigeria can be found on the website of the Nigerian Investment Promotion Commission-NIPC at the following website: www.nipc-nigeria.org


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