Key Features of Business Competition and Consumer Protection Law in Nigeria

Akintunde Esan (The Legal Adviser Online) 

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This edition of the Legal Illumination of Akintunde Esan (The Legal Adviser Online) is focused on the key features of the Federal Competition and Consumer Protection Act (FCCPA) which was enacted in 2018, for the purpose of promoting fair competition and protecting consumer rights in Nigeria.

Key  Features of the Federal Competition and Consumer Protection Act (FCCPA)

Establishment of Regulatory Bodies: 

The FCCPA established the Federal Competition and Consumer Protection Commission (FCCPC) and the Competition and Consumer Protection Tribunal (CCPT). These bodies are responsible for ensuring fair, efficient, and competitive markets in Nigeria.

Consumer Rights Protection: 

The FCCPA in order to ensure that, the Nigerian consumers have access to safe products and services created consumers' rights such as the right to be informed, the right to choose, the right to safety, and the right to be heard so as to protect consumers from unfair contracts, deception, misleading advertisements , defective products, and abusive practices.

Competition Regulation: 

The FCCPA aims to prevent anti-competitive practices such as monopolies, cartels, and abuse of dominant market positions. It promotes healthy competition to benefit consumers and the economy by prohibiting agreements that restrict trade and by regulating mergers and acquisitions.

Merger Control: 

The FCCPA includes provisions for the regulation of mergers and acquisitions to prevent market dominance that could harm competition.

Consumer Complaints and Redress: 

The FCCPA establishes a legal framework for consumers to lodge complaints against businesses and seek redress. The FCCPC is tasked with investigating complaints and resolving disputes.

Scope of Application: 

The FCCPA applies to all businesses operating in Nigeria, including foreign companies with operations in the country, ensuring comprehensive coverage of consumer protection and competition regulation.

Penalties and Enforcement: 

Violating the FCCPA in Nigeria can result in various penalties, depending on the nature and severity of the violation. These penalties are designed to deter anti-competitive behavior and protect consumer rights. The FCCPA outlines penalties for violations and provides mechanisms for enforcement, including the ability to conduct investigations and impose fines. Here are some key penalties:

Fines: 

Companies and individuals found guilty of anti-competitive practices or consumer rights violations can be fined. The amount varies based on the specific offense and its impact.

Imprisonment: 

In some cases, individuals responsible for severe violations may face imprisonment. The duration depends on the offense.

Compensation: 

Offenders may be required to compensate consumers or other affected parties for any losses or damages incurred due to the violation.

Cease and Desist Orders: 

The FCCPC can issue orders to stop certain practices or behaviors that violate the Act.

Revocation of Licenses: 

Businesses may have their licenses revoked or suspended if they are found to be in serious breach of the FCCPA.

Public Disclosure: 

The FCCPC can publicly disclose the names of companies and individuals who have violated the Act, which can harm their reputation.

Further Legal Illumination and Legal Advice

For further legal illumination or legal advice on business competition and consumer protection law in Nigeria you can contact Akintunde Esan (The Legal Adviser Online) on WhatsApp @ 08073828487 or Email @ akintundeesan@gmail.com 

EMPLOYEES’ SHARE COMPENSATION SCHEME IN NIGERIA

1.0 BACKGROUND

1.2 This edition of Akintunde Esan's Legal Illumination is on a Company that has a share compensation scheme that is not pronounced desirous of establishing a pronounced Employees’ Share Ownership Plan (ESOP) via an Employees’ Share Ownership Trust (ESOT) to hold the company’s shares in trust for the employees awarded or granted its shares pending a vesting period and subject to vesting conditions.

1.3 The Company is now contemplating on the appropriate Trust Administrator for ESOT and thus considering whether to establish an Employees’ Trustee Scheme or to make use of its Employees’ Cooperative Scheme as the Trust vehicle for holding the Company’s shares in trust for its employees.

2.0 FACTORS TO CONSIDER

2.1 The following are the relevant factors to consider before establishing Employees’ Share Ownership Trust via the vehicle of an Employees’ Trustee Scheme or its Employees’ Cooperative Scheme.

2.2 Management and Control

2.2.1 The Company warehouses various portion of shares by transferring them to the Trustee who becomes the registered owner of the shares on behalf of members of staff of the Company. The ESOT is required to be managed by a corporate Trustee Company or Trust Manager generally appointed by the Company and whose appointment can only be terminated by the Company. Thus, the Trustee Company or another other party to the ESOT will be taking instructions from the Company and not the employees.

2.2.2 The Cooperative Society  is owned and controlled by the employees who have equal shares and equal votes, thus, If the ESOT is managed by the Employees’ Cooperative Society, the ESOT will be tacitly be controlled by the employees since the Cooperative Society is owned and managed by the employees.

2.3 Taxation

2.3.1 The benefit that accrues to an employee under the ESOT is liable to tax, but the Company is not liable to pay any tax as per ESOT, but it is required to compute tax on the difference between the actual price and exercise price and remit to the relevant authorities. Dividend received by a limited liability company from a unit trust scheme is exempted from tax. Dividends received by individual from a unit trust scheme is liable to personal income tax, the Trustee of the scheme will apply withholding tax at 10% on the dividend and remit to the LIRS.

2.3.2 Cooperative Societies enjoy tax exempt status. Though, the income of registered Cooperative Societies is exempted from taxation, however, the benefits that accrue to the employees under the ESOT are liable to tax and to be remitted by the Company.

2.4 Cost

2.4.1 The ESOT is not ideal for companies with less than 30 employees due to the administrative cost of setting up ESOT. The Company funds the purchase of the shares ESOT. The Trustee Company or Trust Manager or capital market operators will charge the Company for all the services rendered toward the actualization and administration of the ESOT.

2.4.2 A Cooperative Share Scheme would be less expensive, due to lower set up and on-going administration costs. The administrative cost of managing the ESOT will ordinarily be on the Society since it is managing it for the benefit of its members.  

2.5 Legality

2.5.1 The ESOT Trustee will issue a unit or certificate evidencing the employees’ right or interest in the ESOT. The use of such structure has legal complications and requirement making it fall within the definition of Unit Trust Scheme.

2.5.2 No legal personality  can perform any act or enter into any agreement or transaction for the purpose of administering a Unit Trust Scheme, unless such person is:

a. incorporated under CAMA; and 

b. registered as a fund or portfolio manager by the Security Exchange Commission (SEC). 

2.5.3 Section 315 of the Investment and Securities Act (I.S.A.) defines "capital market operator" as any person, individual or corporate, duly registered by SEC to perform specific functions in the capital market.

2.5.4 The Managers, Trustees or Custodians of an Employee Share Ownership Trust or Unit Trust Scheme are statutorily recognized as capital market operators, thus,  must be  body corporate incorporated under the Companies and Allied Matters Act (CAMA) and licensed by the Securities and Exchange Commission (SEC) in order to legally operate as such.

2.6 CONCLUSION 

2.6.1 The ESOT can only be managed by a Trustee Manager incorporated under CAMA and licensed by the SEC. The legal implication of this is that while an ESOT can be legally operated as a Unit Trust Scheme under the I.S.A., the  Employees’ Cooperative Scheme cannot be used as a legal vehicle for ESOP or ESOT of the Company on the grounds that a Cooperative Society:

• is not a body corporate incorporated under the CAMA

 

• is not statutorily recognized as a corporate capital market operator under I.S.A.

• lacks the corporate qualification and professional competence to operate as capital market operator or act as a Fund Manager, Trustee or Custodian of a Unit Trust Scheme under the I.S.A. See S.38 (1) I.S.A.

• is not licensed by the SEC to operate as a Manager, Trustee or Custodian of an Employee Share Ownership Trust  or Unit Trust Scheme; and

• SEC lacks the regulatory authority over the activities of Cooperative Societies scheme.  

2.6.2 Any advantage that using Employees’ Cooperative Scheme for ESOT may have is of no consequence on the ground that, there is no statutory or legal frame for using it as a Unit Trust Scheme under the Investment and Securities Act.

You may consult with Akintunde Esan (the Legal Adviser Online) for further legal illumination on Employee's Share Compensation Scheme in Nigeria.

EMPLOYEE'S SHARE COMENSATION SCHEME IN NIGERIA is a legal illumination of AKINTUNDE ESAN known as The LEGAL ADVISER ONLINE. Akintunde Esan is the Managing Partner & Principal Consultant @ ASE OLODUMARE CHAMBERS (Legal Practitioners/Consultants & Chartered Mediators)

Company Law : Legal Advice for Companies and Business Organisations in Nigeria

Company law consists of the statutes that, regulate the formation , corporate personality, structure, powers, contracts, acts, liability, shareholding, debentures, membership, meetings, directors, board of directors, regulatory compliance, secretaries, secretariat support, corporate governance, taxation, capital market transactions, mergers and acquisitions, takeover, receivership, winding up, lawsuits and disputes of companies.

The statute regulating the registration and running of business organisations and companies in Nigeria is the Companies and Allied Matters Act. Cap. C20 LFN 2004 which was promulgated into law on 2^nd January, 1990 as the Companies and Allied Matters Decree No. 1 of 1990 with 2^nd January 1990 as its commencement date. Unfortunately, due to logistic issues the commencement of the Decree (now known as Act) had to be changed to 31^st December 1990. The Decree was amended by the Companies and Allied Matters (Amendment) Decree No. 32 of 1990, No. 46 of 1991 and No. 40 of 1992 all of which are incorporated in Cap. C20. However, Part XVII of the Act regulating Companies Securities has been transferred to the Investments and Securities Act.

In as long as your company is running, you are bound to have disputes and issues with matters provided in the Companies and Allied Matters Act. In as long as your company wants to remain in business you will always get to the juncture, where it is risky and reckless not to seek legal advice before proceeding further or make a business decision or a financial commitment.

An investment of a considerable monetary value without legal value is a disaster waiting to happen. No business can stand the test of time without the regular audit of its credit value by competent Accountants and the regular audit of its legal value by competent Lawyers.

You may contact Akintunde Esan for legal illuminations or legal advice/opinion on formation , corporate personality, structure, powers, contracts, acts, liability, shareholding, debentures, membership, meetings, directors, board of directors, regulatory compliance, secretaries, secretariat support, corporate governance, taxation, capital market transactions, mergers and acquisitions, takeover, receivership, winding up, lawsuits , disputes of your company or any other company's legal issues, matters or disputes.

 

Akintunde Esan is an international acknowledged authority on Nigerian Jurisprudence. He is a Legal Consultant on commercial, corporate and property law matters and disputes. He is Managing Partner @ Ase Olodumare Chambers (Law Firm).

DRAFTING CONTRACT AGREEMENTS IN NIGERIA

Commercial agreements with contractors, consumers, clients, customers, employees, service providers, business associates and partners, whether simple or sophisticated commercial transactions are governed by the mutual promises generally regarded as contract between the contracting parties.

As legal professionals, we use our legal expertise to turn these mutual promises into a legal document that is enforceable. It is not advisable for a person without legal expertise to draft a commercial agreement or download one from the internet as this can be counterproductive in the long run as you may end up with a document with grave legal consequences or a document that is not legally enforceable in case of dispute or a breach of the agreement.

It is nothing but pure business naivety to do business solely on trust without a written contract. Business savvy entrepreneurs do not do business without a written contract prepared or reviewed by a business minded Solicitor. A well-drafted written contract is a business tool used to safe guard   investment of resources. A well-prepared written contract creates a legal relationship, which enables a person to whom money, goods, services, or some other benefit has been promised to enforce the promise or obtain a remedy for its breach.

A poorly written agreement may result in costly litigation. At the least, it can lead to heated disagreements over the interpretation of provisions in the document. This is not only time consuming, but also detrimental to a good working relationship between the parties.

Above all, I discovered from my experience that, many of the details that will be in the agreement will not even be thought about or discussed until the written document is reviewed. It pays therefore to be the one to prepare the written agreement, and that quite simply is to be sure that you, rather than the other party, determines what goes into it. It is naïve to conclude that since you were careful enough to summarize the essential terms of the agreement, that it then becomes immaterial who actually prepares the written agreement.

Ultimately, it is what is put down on paper and signed that counts, not what someone thought they agreed to. If you are the one who writes the agreement up, then it is your interpretation of what was agreed to that goes into the agreement, however, that does not mean you can change the essence of the agreement, but it certainly gives you the latitude to define the direction of the written contract.

DRAFTING CONTRACT AGREEMENTS IN NIGERIA is a legal illumination of AKINTUNDE ESAN known as The LEGAL ADVISER ONLINE. Akintunde Esan is the Managing Partner & Principal Consultant @ ASE OLODUMARE CHAMBERS (Legal Practitioners/Consultants & Chartered Mediators)

You can contact Akintunde Esan or Ase Olodumare Chambers for further information on the drafting of commercial agreement for :

• The provision of technical, consultancy, engineering, logistics, management, maintenance or agency services in the energy, power and oil and gas sector, hotel and hospitality industry and information communication technology contracts.

• The manufacturing, distribution, branding, marketing and sale of goods.

• The carriage of goods by air, sea and land.

• Outsourcing, trademark or copyright licences, agency, equipment leasing, power of attorney, dealership, equity investment, debt finance and hire purchase.

• Joint venture project development, technology transfer, construction, partnership, franchises, banking, employment, insurance, company law, partnership and a host of other commercial transactions.
    
        
•                                                                                                                                                FIFTY-SIX SERVICES YOU NEED A LAWYER FOR IN NIGERIA

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REGISTRATION OF FOREIGN TECHNOLOGY IMPORTATION CONTRACTS IN NIGERIA

As a result of the unavailability of the requisite technology in Nigeria entrepreneurs/enterprises resort to relying on foreign technology providers to provide them with the required technologies and intangible exposure in technology and management.  

These resorting to foreign technology providers result into executing Technology Transfer Agreements (TTA) between the Nigerian enterprises/entrepreneurs and the foreign technology providers providing technology in any of the following forms:  

a) Management services, 
b) Consultancy services, 
c) Technical know-how, 
d) Trademarks license,
e) Franchise, 
f) Technical services, 
g) Software license 
h) Research and development  

Registration:  

All TTA must be registered with the National Office for Technology Acquisition and Promotion (NOTAP) within thirty (30) days of their execution. NOTAP will not register the TTA if its terms are not in accordance with the provisions of the NOTAP Act.

Effect of Non-Registration:

No payment shall be made in Nigeria to the credit of any person outside Nigeria by or on the authority of the Federal Ministry of Finance, Central Bank of Nigeria or any licensed bank in Nigeria in respect of any payments due under a TTA unless a certificate of registration issued by NOTAP is presented by the parties or a party to the TTA together with a copy of the TTA certified by NOTAP.  

You may contact Akintunde Esan for further information on TTA and its registration with NOTAP.  

For more legal discourses of Akintunde Esan visit or click https://akintundeesan.blogspot.com

26 REGULATORY GOVERNMENT AGENCIES ENTREPRENEURS DOING BUSINESS IN NIGERIA SHOULD KNOW

Doing business legally in Nigeria involves registration and documentation with some government regulatory agencies. You are advised to contact Akintunde Esan for further illumination on business regulations in Nigeria. 

However, below are some of the regulatory agencies entrepreneurs who are interested or involved in doing business in Nigeria should be aware of.
 

	Agency	Mandate	Role
1.	NIGERIAN INVESTMENT PROMOTION COMMISSION (NIPC)	The Nigerian Investment Promotion Commission (NIPC), as a Federal Government Agency, was established by Act of Parliament No. 16 of 1995 to among others; encourage, promote and coordinate investments in the Nigerian economy.	Registration of Foreign Investments, Issuance of Business Permits, Complaint Management, Linkages with NIPC Departments, and other Government Agencies, Country-wide liaison with the 36 States on investment matters etc.
2.	CORPORATE AFFAIRS COMMISSION (CAC)	CAC was established under the Companies and Allied Matters Decree No. 1 of 1990.The Commission has statutory responsibility for registration of companies, business names and Incorporated Trustees.	Undergo Name searches and Company Incorporation
3.	NIGERIA IMMIGRATIONSERVICE (NIS)	The Nigerian Immigration Service (NIS) was formally established by an Act of Parliament (section 5 of Immigration Act L.N. Cap. 171 1963) to attend to immigration matters.	Provision of information and guidance on immigration matters, regularization of Permanent Work Permits and issuance of STR Visas
4.	NIGERIA CUSTOMS SERVICE (NCS)	Established by Customs and Excise Management Act (CAP 45 LFN 2004), ‘An Act to regulate the management and collection of duties of Customs and Excise, and for purposes ancillary thereto’.	Issuance of Import & Export Guidelines, Procedure for citing Excise Factories, Goods clearance facilitation and general information on Fiscal Policy issues.
5.	FEDERAL INLAND REVENUE SERVICE (FIRS)	FIRS mandate is to assess, collect and account for the taxes accruable to the Federal Government under the Companies Income Tax (amendment) Act, 2007, the Value Added Tax (Amendment) Act, 2007 and the Federal Inland Revenue Service (Amendment) Act, 2007.	Tax Registration , Payment of Stamp Duties, Issuance of Tax  Clearance Certificates and issuance of Tax Forms
6.	NATIONAL OFFICE FOR TECHNOLOGY ACQUISITION & PROMOTION (NOTAP)	NOTAP, a parastatal of the Federal Ministry of Science and Technology, was established by Decree No. 70 of 1979 to among other things facilitate and implement the acquisition, promotion and development of technology in Nigeria.	To facilitate the registration of contract agreements dealing with transfer / acquisition of Technology between Nigerians and their foreign partners. Facilitate approvals for licenses, Patents and Franchises etc.
7.	NATIONAL AGENCY FOR FOOD & DRUG ADMINISTRATION & CONTROL (NAFDAC)	National Agency For Food & Drug Administration & Control (NAFDAC), was established by Decree No 15 of 1993 as amended by Decree 19 of 1999 and now the National Agency For Food & Drug Administration & Control Act Cap N1 Laws of the Federation of Nigeria (LFN) 2004. This Act mandates NAFDAC to regulate and control the manufacture, importation, exportation, distribution, advertisement, sale and use of food, drugs, cosmetics, chemicals, detergents, medical devices and packaged water (known as regulated products).	Provision of information, advisory services, facilitation and kick starting of registration process on products.  On-going processes such as registration of pharmaceuticals and food can be facilitated at the Centre.  The registration status of a product can also be obtained at the Centre through the NAFDAC Registered Products Automated Database (NARPAD).
8.	STANDARDS ORGANIZATION OF NIGERIA (SON)	SON was established by Enabling Act No. 56 of 1971 for preparing, implementing and promoting standards for products and processes and for ensuring compliance with Federal Government policies on standardization and conformity assessment of both locally manufactured and imported goods, throughout the country.	Facilitates all aspects of Standardization activities, approvals or permits for use of standards. Provision of information and guidance on the following: ·      MANCAP Certification ·      SONCAP Certificate ·      Training in NIS ISO 9000 and NIS ISO 14000
9	MINISTRY OF MINES AND STEEL DEVELOPMENT (MMSD)	The Ministry is saddled with responsibility for the formulation and execution of policies as well as the enforcement of all Laws relating to prospecting, mining, and quarrying of Solid Minerals throughout Nigeria. The Ministry, through its Agency, the Nigerian Geological Survey Agency (NGSA), is also responsible for the geological mapping and exploration of Minerals with a view to providing information for investors.	Facilitation in obtaining Exploration Licenses, Mining Leases and Provision of information and guidelines on investing in the Solid Minerals Sector
10	NATIONAL BUREAU OF STATISTICS (NBS)	The National Bureau of Statistics (NBS) is the Federal Agency mandated by Law to produce statistics for the Nation on all aspects of Human Activities	Provision of information on Statistical Data on the Nigerian Economy
11	MINISTRY OF THE FEDERAL CAPITAL TERRITORY (FCTA)	The Federal Capital Development Authority (FCDA) was created by virtue of the FCT Act of 1976 to oversee the development of the new city. In 1979, it was given the status of a Ministry called the Ministry of Federal Capital Territory created via an official gazette extra-ordinary no. 55 volume 66 October 26, 1979, by virtue of this Act FCDA has the responsibility of planning and development of the entire FCT.	Facilitation on Land Matters for investment Projects, promotion of investments especially in Tourism, Infrastructure, Industries etc and provision of general information on the FCT.
12	FEDERAL MINISTRY OF FINANCE (FMF)	The Federal Ministry of Finance is conferred with the responsibility of controlling, managing and monitoring revenues and expenditures of public finance of the Federation	Administration of Industrial Incentives, Tariff Administration and general information and guidelines on Fiscal Policy
13	CENTRAL BANK OF  NIGERIA (CBN)	The core mandate of the Central Bank of Nigeria (CBN) is derived from the provisions of the CBN Act of 2007. The functions are mainly in the following: §  Ensure Monetary and Price stability §  Issuance of legal tender currency §  Maintenance of External Reserve to safeguard the international value of the legal tender currency; §  Promotion of a Sound Financial System and §  Banker and financial adviser to the Federal Government.	Provision of information on financial sector regulatory requirements and procedures for carrying on such transactions by prospective investors, guidelines on correspondent banking and funds transfer, including Capital Importation.
14	NIGERIA MARITIME ADMINISTRATION AND SAFETY AGENCY (NIMASA)	NIMASA has the mandate to superintend the holistic but systematic implementation of the National Shipping Policy, the Nigerian Maritime Labour Policy; the Cabotage Law and the Nigerian Shipping Laws which are all geared towards the development of the Nigerian Maritime Sector to contribute optimally to the country’s socio-economic development.	Provision of general information and guidance and facilitating investments in the Maritime Sector.
15	THE FEDERAL MINISTRY OF INTERIOR (FMI)	The Ministry of Interior has responsibility for administering and enforcing the provisions of the Immigration Act. 1963 as they relate to the establishment of business in Nigeria and the employment of expatriates.  Hence the Ministry is statutorily mandated to, amongst others to do the following: ·   Responsible for Commercial and Civil Regulation. ·   Issuance of Expatriate Quota / Business Permit in Nigeria.	Provision of general information and guidance and facilitating the issuance of Business Permits and Expatriate Quota
16	NIGERIAN EXPORT PROMOTION COUNCIL (NEPC)	The Nigerian Export Promotion Council (NEPC) is the apex government agency charged with the responsibility of promoting non Oil Export in Nigeria. It was established through the Nigerian Export Decree No. 26 of 1976 and is statutorily mandated to, amongst others do the following: ·  Promote the development and diversification of Nigeria’s export trade. ·  Assist in promoting the development of export-related industries in Nigeria. ·  Spearhead the creation of appropriate export incentives. ·  Articulate and promote the implementation of export policies and programmes of the Nigerian Government.	Facilitating investments and Provision of general information and guidance related to Nigeria’s Export Trade.
17	NIGERIAN ELECTRICITY REGULATORY COMMISSION (NERC)	NERC is an independent regulatory agency which was established by the Electric Power Sector Reform Act 2005 and is mandated to carry out the monitoring and regulation of the electricity industry, issuance of licenses to market participants, and  to ensure compliance with market rules and operating guidelines.	Facilitating investments and Provision of general information and guidance in the Electricity Industry in Nigeria.
18	MINISTRY OF FOREIGN AFFAIRS (MFA)	The Ministry of Foreign Affairs (MFA) by the provision of the constitution of the Federal Republic of Nigeria is the statutory organ of Government charged with the primary responsibility of formulating, articulating and conducting Nigeria’s Foreign Policy.	Facilitating and fast-tracking all trade and investment related issues through over hundred Missions abroad and carrying out basic due diligence of foreign companies.
19	NATIONAL PLANNING COMMISSION	NPC was established by Act No. 71 of 1993 to among other things determine and advices on policies that will best promote national unity and integration and sustain the Nigerian nation. The key functions include: ·         Provision of policy advice to Mr. President in particular and Nigeria in general on all sphere of national life; ·         Set national priorities and goals and engender consensus amongst public & private sectors stakeholders for its accomplishment; ·         Undertake periodic review of & appraisal of the human & material resource capabilities of Nigeria for efficient and effective utilization; ·         Formulate and prepare short, medium & long term development plans and coordinate their implementation at the three tiers of government; ·         Monitor projects and progress relating to plan implementation; ·         Conduct research into various aspects of national interest and public policy with a view to foster sustainable economic development of Nigeria; ·         Manage multilateral & bilateral economic cooperation, including development aids, and technical assistance programming; and ·         Deals with matters relating to regional economic cooperation - ECOWAS, UNECA, South-South Cooperation etc.	·         Provision of information and technical advice on macroeconomic indicators; ·         Provision of information on Government Policy thrusts and priority sectors of the Nigerian economy; ·         Facilitation of registration of Non-profit making International NGOs; ·         Facilitate the activities and operations of the development partners in Nigeria such as EU, USAID, JICA, CIDA, DFID, UNICEF etc; and ·         Follow-up action on other matters relating to NPC mandates and functions at the Commission’s Headquarters in Abuja.
20	DEPARTMENT OF PETROLEUM RESOURCES	Established by the Petroleum Act 1969, the Department of Petroleum Resources has the responsibility - •          To regulate and monitor Upstream and Downstream oil and gas activities in Nigeria, ensure standards, compliance and best international industry practices. •          To manage and administer Nigeria’s oil and gas acreage and concessions. •          To conserve the nation’s hydrocarbon resources, and maximize returns on investment to government. •          To determine/collect royalties and other Oil and Gas statutory fees, charges, and penalties. •          To serve as the repository for archiving and retrieval of all oil and gas data in Nigeria. •          To advise government on the nation’s authentic oil and gas reserves, production and export for planning and development purposes. •          To ensure that oil and gas activities are carried out in a safe and environmentally sustainable manner. •          To co-operate with other agencies in ensuring that Oil and Gas operations in Nigeria have linkages with the host communities, and meet local content aspirations of government. •          To follow best practices in global HSE and environmental standards and adapt same to our national circumstances. •          To implement government policies on Oil and Gas matters. •          To grant necessary / relevant approvals, Licenses and Permits for operations and installations in the Oil and Gas Industry.	·   Provision of general Information/data on DPR statutory mandate and the Oil and Gas Sector to facilitate informed investment decisions. ·   Facilitation and guidance to investors in the issuance of various approvals/licenses granted by the DPR. ·   Provision of general advisory services on the investment opportunities in the Oil & Gas Sector, including matching investors’ requirements with opportunities available in the Sector. ·   Assisting investors through facilitation with relevant stakeholders in the Oil & Gas industry on access to support in respect of investment projects.
21	ODU’A INVESTMENT COMPANY LIMITED	Odu’a Investment Company Limited was incorporated in July, 1976 to take over the business interests of the former Western State of Nigeria now comprising Oyo, Ogun, Ondo, Osun and Ekiti including Lagos State. The Company was established to promote the socio-economic and industrial growth of the host States and create employment opportunities.	The Desk serves as the information bank for investment opportunities in the 5 South-Western States, with a view to attract foreign / local investments into the States including Lagos State. Provision of relevant investment data on security and incentives.
22	NEW NIGERIA DEVELOPMENT COMPANY (NNDC)	NNDC is a Development Finance Institution (DFI) owned by the (19) states that constitute the Northern Region of Nigeria. The company was established in 1949 to contribute to the Socio-Economic development of the region.	Provision of general advisory services on investment opportunities in Northern States, including matching investors requirements
23	SOUTHEAST/SOUTH SOUTH REGIONAL DESK	The Southeast/South-south Regional Desk is an innovation by NIPC at OSIC, established on march 16th, 2009 as part of the Commission’s proactive strategy to facilitate and fast-tracking inflow of foreign and local investment into the eleven(11) states of the SE/SS regional block.	Provision of data on investment opportunities, investment environment and incentives in the Southeast/South South Region of Nigeria. The Desk also liaises, co-ordinates and maintains necessary investment promotion and facilitation in collaboration with the States.
24	PHARMACISTS COUNCIL OF NIGERIA (PCN)	PCN is the agency statutorily charged with the responsibility for the regulation and control of the Practice of Pharmacy in Nigeria.	Provision of general Information/data on PCN statutory mandate and the Health Sector to facilitate informed investment decisions. ·                     Facilitation and guidance to investors in the issuance of various approvals/licenses granted by the PCN. ·                     Provision of general advisory services on the investment opportunities in the Pharmaceutical Industry, including matching investors’ requirements with opportunities available in the Sector. ·                     Facilitation with relevant stakeholders in the industry on access to support in respect of investment projects on behalf of investors.
25	NIGERIAN COPRYRIGHT COMMISSION (NCC)	NCC is the Anti-Piracy and Enforcement agency for Intellectual Properties in Nigeria. The agency plays an important role in the maintenance of effective databank of authors, their works and the monitoring of the copyright Industry.	·   Provision of general Information/data on the Agency’s statutory mandate and the Copyright Industry to facilitate informed investment decisions. ·   Facilitation and guidance to Investors in the issuance of various approvals/licenses granted by the NCC.                                       ·   Provision of general advisory services on the general requirements in the Copyright Industry. ·   Facilitation with relevant stakeholders in the Copyright industry on access to support in respect of investment projects on behalf of investors.
26	MANUFACTURERS ASSOCIATION OF NIGERIA (MAN)	MAN is the focal point of communication and consultation between industry on one hand and the Government and the general public on the other hand.  MAN plays a strategic role in Nigeria and has contributed immensely to Government Policy formulation through constructive recommendations and view points.  It has provided manufacturers with the means of formulating and influencing general policies with regard to industrial, labour, social, legal, training, and technical matters in the overall interest of stakeholders.	·   Provision of general information/data based on the objectives/mandate of MAN to facilitate informed investment decisions. ·   Facilitation and guidance to investors on membership registration. ·   Provision of general advisory services on the investment opportunities in the Manufacturing Sector, including matching investors’ requirements with opportunities available in the Sector. ·   Facilitation with relevant stakeholders in the Manufacturing industry on access to support in respect of investment projects on behalf of investors.