Bayelsa State is an oil and gas producing State situated in a tropical rain forest area. The State is characterised by mangrove swamps and arable land with a network of creeks and rivers which flow into the atlantic ocean. The State is amongst the richest and is potentially endowed with one of the most productive systems in the world; underpinning is the remarkable scenic beauty which offers opportunities in hospitality and tourism.

One of the long term plan of the present administration led by His Excellency Chief Timipre Sylva, is to promote a prosperous Bayelsa State and encourage entrepreneurship amongst her citenzenry. 

He is intrested in building strong institutions , physical structures and mordernizing systems as a first step to providing an attractive investment climate with a committment to run a transperent and accountable leadership based on global best practices.

This has been hampered by challenges in funding developmental projects which hitherto have been funded from Federal Allocations and oil revenues which are dwindling as a result of reduced supply. Additional threats to oil revenue is  the global trend which is marked by uncertainty in crude oil pricing and economic downturn . 

This has resulted in an urgent need to proactively harness (explore) untapped non oil revenue sources to access the resources needed for the State’s sustainable development.

To put its vision and mission into proper focus, there is a pressing need to create an independent Bayelsa brand as the Preferred  Investment Destination and to showcase the state as a spledid, richly endowed and naturally blessed State(The Glory of All lands) in order to encourage the influx of local and foreign investors. Hence the creation of the Bayelsa Investment Promotion Office premised on the following:

• Vision – To position Bayelsa State as a world class investment destination locally in Africa and the rest of the world.

• Mission – To create wealth, sustainable growth and development by stimulating entrepreneural, commercial and investment activities through      promotion of viable investment initiatives.

• Objectives - The objectives of the BIPO shall be to:
  
  
  • Select and promote investments that will facilitate the economic and social development of Bayelsa State in its identified focus areas;
  • Initiate and ensure legislation backing the set up the Bayelsa Investment Promotion Office.
  • Identify specific projects and invite interested investors for participation in those projects;
  • Co-ordinate, monitor, encourage and provide necessary assistance and guidance for the establishment and operation of enterprises in Bayelsa State (including immigration, business registration and property acquisition facilitator assistance).
  • Contribute to the formulating and overseeing of the economic development strategy for Bayelsa State.
  • Collecting, collating, analysing and disseminating information about investment opportunities and sources of investment capital, and advising on the availability, choice or suitability of partners in joint-venture projects;
  • Provide and disseminate up-to-date information on incentives available to investors while managing and negotiating investment incentive systems on a case by case basis;
  • Act as a facilitator for contacts between the investors, Bayelsa State Government, relevant State agencies and the local population;
  • Develop feasibility studies, collecting, analysing and disseminating authentic and accurate packaged information about investment opportunities, policies and sectoral incentives, for investment in Bayelsa State;
  • Maintain post-investment after care services and ensure that Bayelsa State’s Investment Climate remains favorable and investor- friendly;
  • Ensure that the State derives maximum benefits in corporate social responsibility and indigenous employment from investments coming into  the state.
  • Assist local entrepreneurs and businesses in building capacity to be able to partner with foreign investors.
  • Liaise with the Nigeria Investment Promotion Council to optimise the services of the Council for the development of investment in Bayelsa  State.
  • Register Bayelsa State as a member of the World Association of Investment Promotion Agencies (WAIPA).
  • Conduct researches, publish research fidings and encourage investment in actualisation and promotion of research findings within the scope  of investment promotion and culture in Bayelsa State.
  • Identify and maintain records of skills, talents, skilled and unskilled manpower that are available in the State.
  • Set up a BIPO website to highlight and frame investment opportunities in the State.

1. Investment Facilitation

• Provide support services including Registration of Companies, liaison services between investors and Ministries, Departments, Government Agencies, and other authorities concerned with the investment, assistance to procure authorities and permits required for the establishment and operation of enterprises;  immigration, and property acquisition facilitator assistance.

• Provision of comprehensive market feasibility studies to potential investors.

• Provision of extensive information related to the Bayelsa business environment including current investment procedures.

• Maintenance of liaison between investors and Ministries, Government departments and agencies, institutional lenders and other authorities concerned with investments;
• Confirm credibility and status (Health check)of potential investors.
• Provision and dissemination of up-to-date information on incentives available to investors via print & electronic media and BIPO website.

• Registration of Company with the Corporate Affairs Commission (CAC)

• Bank account opening

• Registration with the relevant agencies as applicable to the sector of operation.

• Facilitate the grant of Expatriate Quota to enable foreign companies engage the services of expatriates.

• Registration with IRS and VAT Secretariat - All enterprises must register directly with the Internal Revenue Service and the Value Added Tax (VAT) Secretariat for purposes of statutory tax, e.g. taxes, rebates and exemptions thereof.

• Environmental Impact Assessment Certificate - Enterprises must register and obtain an environmental permit from the Environmental Protection Agency (EPA).

• Initiate, organize and participate in promotional activities such as exhibitions, conferences and seminars for the stimulation of investments in Bayelsa state;
• Maintain liaison between investors and Ministries, government departments and agencies, institutional lenders and other authorities concerned with investments;
• Provide and disseminate up-to-date information on incentives available to investors;

• Advise the State  Government on policy matters, including fiscal measures designed to promote the industrialization of the state or the general development of the states economy; and

• Primary contact for investment related issues:

• Evaluate the impact of the Commission on investment in the State and recommend appropriate remedies and additional incentives;

• Registering and keeping records of all major investments in Bayelsa State
• Registering and keeping records of all technology transfer agreements relating to investments in the State
• Maintain Post-Investment after care services and ensure that Nigeria’s Investment Climate remains favorable and investor- friendly.

The Nigerian Government offers a lot of investment incentives for the stimulation of private sector investment from within and outside the country. Some of the incentives cover all sectors while others are limited to specific sectors. The incentives include:

Pioneer Status for eligible industries like vehicle manufacturers, integrated dairy production and manufacture of iron & steel from iron ore;

Capital Allowances;

• In-Plant Training;
• Investment Infrastructure;
• Investment in Economically Disadvantaged Areas;
• Labor Intensive Mode of Production;
• Local-Value Added;
• Re-Investment Allowance;
• Minimum Local Raw-Materials Utilization;
• Export Products

There are also sectoral incentives for investment in the target sectors i.e. Industry, Agriculture, Solid Minerals, Petroleum/Gas, Telecommunications, Energy, Tourism and Transportation.

• Ease in obtaining Certificate of Occupancy:
• Infrastructural support; where needed
• Waiver of Government fees for Investment agreements i.e. monitoring and other pre investment MOU and PPP related fees:
• Advisory services
• Security

• Power; Alternative energy
• Waste Management
• Tourism & Hospitality
• Agriculture
• Agro based
• Infrastructure
• Manufacturing
• Education
• Oil & Gas
• Water

• Entrepreneural development
• Employement generation/Social statbility
• Internally Generated Revenue (IGR)

See other Investment Opportunities