Octoberfirst Consulting Sydney Exposes Opportunities in Nigeria Environmental Sector
Sydney, Australia, July 10, 2008 --(PR.com)-- OctoberFirst Consulting Sydney Australia has completed research on environmental opportunities in Nigeria. The research findings illuminated wide range of investments and trade opportunities in the environmental sector in the largest economy in sub-saharan Africa.
Over decades ago, the military leaders of Nigeria grossly ignored the development of environmental and waste management infrastructures. These long years of neglect has expectedly created inadequate facilities and lack of technical expertise to combat the growing environmental issues now confronting Nigeria. The present deplorable conditions has exposed Nigerians living in cities to huge refuse dumps and increased their risk of contracting diseases.
The situation is further compounded with continuous growth in population across Nigerian cities. The massive internal migration in Nigeria has escalated the generation of Municipal Solid Waste (MSW) with limited or no upgrade of social infrastructures to cope with the rapid increase.
Since the return of democratic governance in 1999, the 36 state governments of Nigeria have employed staff, imported environmental machinery and managed municipal solid waste with inherent government bureaucratic bottlenecks and negligence.
Few state governments have gone further and launched environmental initiatives to manage the growing environmental challenges with limited success.
The unimpressive outcomes of these initiatives are largely due to lack of capacity in environmental management, inappropriate environmental framework, limited environmental machinery and dearth of technical expertise among many others.
The current situation has motivated the state governments to seek foreign environmental companies to partner with their government in Public-Private Partnership (PPP) model or contract basis.
These environmental challenges have opened opportunities for foreign companies with environmental technologies and infrastructural solutions in areas including but not limited to:
Supply of compactor trucks, tippers and pay loaders;
Supply of monitoring equipment and other ancillary equipment;
Provision and rehabilitation of sewage/drainage infrastructure;
Procurement of requisite equipment for collection and disposal of waste;
Construction of plastics, bottles and paper recycling plants;
Construction of high temperature incinerators;
Conversion of animal and food waste to fertilizers for agriculture;
Technical support to establish a framework, implementation and training among others.
Industry observers see huge on-going potential for foreign investors in waste management projects in Nigeria since capacity, technical expertise and infrastructure remain an issue.
Nigeria Government Incentives for Foreign Investors
The Federal Government of Nigeria classifies investments in processing and recycling as “Pioneer status”. This classification qualifies foreign investors for:
over six years tax holiday;
subsidized import duties on processing/manufacturing equipment;
reduced interest on investment loans obtained in designated Nigeria banks.
Additionally, foreign Investors that locate their business in any of the Federal Government approved Free Trade Zones in Nigeria could qualify for more incentives that include but are not limited to:
Unrestricted remittance of profit;
Guaranteed infrastructure and amenities like energy, road, water, security etc;
Permission to sell 100% total production in the domestic market;
Access to West Africa regional markets;
Exemption from all Federal, State and Local Government taxes, levies and rates;
Approved enterprises shall be entitled to import into the Zone, free of customs duty on capital goods, consumer goods, raw materials, components and articles intended to be used for purposes of and in connection with an approved activity;
Freedom from legislative provision pertaining to taxes, levies, duties and foreign exchange regulations;
Repatriation of foreign capital on investment in the zone at any time with capital appreciation of the investment;
100% foreign or local ownership of factory allowable among other incentives.
Interested companies can contact OctoberFirst Consulting Sydney for detailed documentation on Environmental Opportunities in Nigeria. Request a free electronic copy at www.octoberfirst.com.au
About OctoberFirst Consulting
OctoberFirst Consulting is a Sydney-based investment communication company and a member of NSW Business Chamber. We are single-mindedly committed to the exposure of trade and investment opportunities in Africa. Our vision is geared towards the application of ethical communication strategies and tactics to accomplish set-out objectives for our clients and the continent of Africa.
For more information please call Frank Aneke on +61421 743 463 or better still email info@octoberfirst.com.au
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Over decades ago, the military leaders of Nigeria grossly ignored the development of environmental and waste management infrastructures. These long years of neglect has expectedly created inadequate facilities and lack of technical expertise to combat the growing environmental issues now confronting Nigeria. The present deplorable conditions has exposed Nigerians living in cities to huge refuse dumps and increased their risk of contracting diseases.
The situation is further compounded with continuous growth in population across Nigerian cities. The massive internal migration in Nigeria has escalated the generation of Municipal Solid Waste (MSW) with limited or no upgrade of social infrastructures to cope with the rapid increase.
Since the return of democratic governance in 1999, the 36 state governments of Nigeria have employed staff, imported environmental machinery and managed municipal solid waste with inherent government bureaucratic bottlenecks and negligence.
Few state governments have gone further and launched environmental initiatives to manage the growing environmental challenges with limited success.
The unimpressive outcomes of these initiatives are largely due to lack of capacity in environmental management, inappropriate environmental framework, limited environmental machinery and dearth of technical expertise among many others.
The current situation has motivated the state governments to seek foreign environmental companies to partner with their government in Public-Private Partnership (PPP) model or contract basis.
These environmental challenges have opened opportunities for foreign companies with environmental technologies and infrastructural solutions in areas including but not limited to:
Supply of compactor trucks, tippers and pay loaders;
Supply of monitoring equipment and other ancillary equipment;
Provision and rehabilitation of sewage/drainage infrastructure;
Procurement of requisite equipment for collection and disposal of waste;
Construction of plastics, bottles and paper recycling plants;
Construction of high temperature incinerators;
Conversion of animal and food waste to fertilizers for agriculture;
Technical support to establish a framework, implementation and training among others.
Industry observers see huge on-going potential for foreign investors in waste management projects in Nigeria since capacity, technical expertise and infrastructure remain an issue.
Nigeria Government Incentives for Foreign Investors
The Federal Government of Nigeria classifies investments in processing and recycling as “Pioneer status”. This classification qualifies foreign investors for:
over six years tax holiday;
subsidized import duties on processing/manufacturing equipment;
reduced interest on investment loans obtained in designated Nigeria banks.
Additionally, foreign Investors that locate their business in any of the Federal Government approved Free Trade Zones in Nigeria could qualify for more incentives that include but are not limited to:
Unrestricted remittance of profit;
Guaranteed infrastructure and amenities like energy, road, water, security etc;
Permission to sell 100% total production in the domestic market;
Access to West Africa regional markets;
Exemption from all Federal, State and Local Government taxes, levies and rates;
Approved enterprises shall be entitled to import into the Zone, free of customs duty on capital goods, consumer goods, raw materials, components and articles intended to be used for purposes of and in connection with an approved activity;
Freedom from legislative provision pertaining to taxes, levies, duties and foreign exchange regulations;
Repatriation of foreign capital on investment in the zone at any time with capital appreciation of the investment;
100% foreign or local ownership of factory allowable among other incentives.
Interested companies can contact OctoberFirst Consulting Sydney for detailed documentation on Environmental Opportunities in Nigeria. Request a free electronic copy at www.octoberfirst.com.au
About OctoberFirst Consulting
OctoberFirst Consulting is a Sydney-based investment communication company and a member of NSW Business Chamber. We are single-mindedly committed to the exposure of trade and investment opportunities in Africa. Our vision is geared towards the application of ethical communication strategies and tactics to accomplish set-out objectives for our clients and the continent of Africa.
For more information please call Frank Aneke on +61421 743 463 or better still email info@octoberfirst.com.au
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Contact
OctoberFirst Consulting, Sydney Australia
Frank Afam-Aneke
+61 421 743 463
www.octoberfirst.com.au
Frank Afam-Aneke
+61 421 743 463
www.octoberfirst.com.au
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