Oil and gas, naturally since it represents more than 90% of the country’s export revenue. The opening of new offshore platforms has revived activity. In spite of the uprising among communities in the oil region affected by ecological depreciation, production is still going on and the future still remains bright.

·        Large scale mechanised farming for Africa’s largest market of 140 million people;

·        Agriculture processing and storage facilities;

·        Agro=allied industries in rubber and plastic, cereal and grain milling,fruits,vegetable oils,sugar,confectioneries and beverages, food processing, leather and leather products etc;

·        Fisheries development through fully equipped and modernized fishing terminals, fishing equipment such as vessels, outboard engines, nets and ancillary gear such as warps,floats,lead and twines and post harvest fish processing;

·        Manufacture/fabrication of appropriate small scale and mechanised technologies for processing of farm produce;

·        Agricultural processing and storage facilities.

• Metal fabrication/machine tools;
• Foundry and forges;
• Pharmaceuticals;
• Cement;
• Food processing;
• Leather and leather products;
• Textiles;
• Other non-metallic building materials-bricks, ceramic, glass etc.
• Lead and zinc projects;
• Fabrication of spare parts;
• Bio-tech industries

·        100% tax free period for five years for pioneer products;

·        30%   tax concession for five years to industries that attain defined minimum local raw materials’ utilization;

·        15% tax concession for five years for labour intensive mode of production;

·        10% tax concession for five years for local value added by engineering industries undertaking local fabrication;

·        2% tax concession for five years on the cost of training facilities

·        10% tax concession for five years for industries that export not less than 60% of their products;

·        100% tax holiday for seven years for inventing in economically disadvantaged area and additional 5% depreciation allowance;

Special loans from banks for agricultural projects

In order to attract requisite private sector participation incentives offered are

• 3-5 years tax holiday;
• Deferred royalty payments;
• Capitalisation of exploration and survey expenses;
• Provision of infrastructure;
• 100% ownership of mining companies.

• Hydro power generation in Mambilla falls, Taraba State and Agbokin falls in Cross Rivers state
• Development of energy infrastructure;
• Commercialisation of energy;
• Construction and management by private companies to build, own and operate and / or transfer independent power plants;
• Production of steam and gas turbine spare parts;
• Repairs and testing of power transformer;
• Development of wind turbine for generation of electricity;
• Manufacture of distribution transformers and lines hardware;
• Technology transfer through joint erection of new power plants.

·        Overland safaris;

·        National Parks;

·        Theme Parks;

·        Beach resorts and hotels;

·        Surfing and snorkelling;

·        Lake and river fishing;

·        Recreational deep sea fishing;

·        Archaeological tours;

·        Transportation-water, land and air;

• Preferred sector status since 1991;
• Tax holidays;
• Longer period of moratorium for the repayment of loans and any financing obligations.

The food industry profits largely from the 140 million inhabitants of this country. Demand is keen and the final distribution is often done through informal market networks, which is the only means of reaching the entire population. Thus, in June 2001, Nestle recorded sales 38% higher than that of the same period in 2000 and 100% higher than in 1998. The breweries also experienced the same boom, the factories functioning at 100% of their capacity and yet not meeting the national demand. Investments in this sector in terms of renovation and construction of factories is increasing. Nigerian Breweries has already opened up in Enugu, the biggest and most ultramodern bottling factory in sub-Saharan Africa.

Water is also a topical issue. In fact, this sector is in the process of privatization in Lagos. In 1998, the World Bank carried out preparatory studies thereon.

The pharmaceutical industry will definitely profit from the privatization of drug sales in Lagos hospitals. This sector will certainly be stimulated by the goals of the new health Minister, in terms of primary health programmes and construction of new hospitals in each of the 6 geopolitical zones of the country.

Telecommunication is the current subject of interest in Nigeria.The awarding of mobile telephony licences and the ongoing privatization of NITEL, has created anticipation for an exponential increase in subscribers, as well as the opening of a new market of facilities similar to mobile and fixed telephony.

Under the the free Trade Zones scheme, industries and businesses that are either already established or are to be established, are situated in free trade zone area for the prime purpose of situated in free trade zone area for the prime purpose of exporting a substantial percentage of the goods and services they produce.

·        Customs duties;

·        Local taxes, levies and rates;

·        Foreign exchange restrictions;

·        Laws that prevent profits from being remitted overseas.

·        Tax relief/holidays;

·        Unrestricted repatriation of foreign investment capital;

·        Waiver on import and export licences;

·        Rent-free land during construction of factory premises;

·        Up to 100% foreign ownership of enterprises in Export processing Zones(EPZs);

·         Sale of up to 25% of products permitted in domestic market;

·        No quotas on products to the European Union and United States as Made-in-Nigeria goods are entitled to preferential tariffs in the EU,under the Cotonou Agreement and the United States because of the African Growth and Opportunities Acts(AGOA);

·        No strikes or lockouts;

·        Relative proximity to major global markets;

·        One stop approvals for interested investors;

They are currently five free Trade zones in  Nigeria

Namely:

• Calabar Free Trade Zone.
• Onne Oil & Gas Free Zone.
• Kano Free Trade Zone.
• Maigatari Free Trade Zone.
• Banki Free Trade Zone.
• Lekki Export Processing Zone.