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Why Invest in Imo State

Useful Information

One Stop Center
Open hours :
Monday - Friday 08:00 - 21:00
Saturday and Sunday - CLOSED

+234 803 302 1192 | 909 956 8250
info@investinimo.com

Imo Trade & Investment Center,
Pocket Layout, Port Harcourt
Road, Owerri, Imo State,
Nigeria

 

WHY INVEST IN IMO STATE

Imo state occupies a strategic location as the Heartland of the Eastern Region of Nigeria with Owerri as its capital. The state enjoys proximity to many of the neighbouring states' metropolitan markets including Portharcourt, Onitsha, Enugu, Abakiliki, Yenegoa, calabar and Uyo.

Imo state has an International Cargo Airport in Owerri, and access to seaports of Portharcourt and Calabar. Our state offers a cost-competitive advantage for investors seeking out new growth opportunities in Nigeria and Africa at large.

Imo State has natural endowments and the government has put in place policies, incentives and programmes aimed at creating enabling environment for investments.

Investment incentives designed to support investors participation in the various sectors of the economy include:


(i) Financial

a. Some start-up equity (on a case-by-case basis) for investments in critical sectors.
b. Investment Guaranties and minimum off-take, also on a case-by-case basis.
c. Income tax relief for a period of three years and which can be extended for a period of one year and thereafter another one year or for one period of two years – Pioneer Status Incentives.
d. Tax Incentives for Capital Equipment Purchases
e. Allow easy repatriation of profits
f. Zero Import Duty: Zero percent import duty tariffs (custom, excise and value added) for import of agricultural equipment and agro-processing equipment.
g. Avoidance of double taxation agreement which eliminates double taxation with respect on income and capital gains.

(ii) Infrastructural

a. Land (with certificate of occupancy) with basic infrastructure; access roads, electricity, water, etc
b. Government-backed security network with 24 hr patrols to ensure safety and security of lives and properties

(ii) Support Systems

a. Access to government-developed Investor Information and support through its investment agency, ISIPA
b. One-stop channel access to all government bodies through ISIPA’s One-Stop Investment Center
c. Re-engineered business processes and policies to boost ease of doing business, with aim to make Imo to rank 1st in Ease of Doing Business rating
d. Fast tracked licensing and issuance of all necessary permits
e. Government backed security
f. Investment promotion and protection agreement provides reciprocal baseline protections for investments.