Central Bank of Nigeria, Research Department.
Structural Adjustment Programme (SAP), Capital and dividends, Repatriation, Investment opportunities, Foreign investors, Nigeria.
This paper was designed to reassure Nigeria's investors and the world financial community that their investment was protected at all times and, in particular, under the economic structural revolution which of the then Military administration. The paper drew from the past experiences to show that foreign investors had not, in the past, been restricted from repatriating their capital and dividends. More importantly, during the period of indigenization, government policies and measures encouraged free repatriation of capital and dividends. Under the economic structural revolution, such measures were improved upon and it was much easier to repatriate capital and dividends. The paper also highlighted the investment opportunities which abound in Nigeria, the various measures to encourage inflow of capital and, finally, special advantages to foreign investors of the Structural Adjustment Programme (SAP). Based on the above objectives, the paper was organised into six parts as follows: Part 1 briefly explained the circumstances leading to the SAP and highlighted its main features. Part 2 presented the advantages of the introduction of the SAP to foreign investors. Part 3 reviewed the various measures, particularly the recent ones, introduced by the government to encourage and safeguard foreign investors. Part 4 examined the rules governing repatriation of dividends under SAP. Part 5 highlightedcinvestment opportunities in Nigeria and the role of foreign investors, while Part 6 contained the summary and conclusions.
Osakwe, J. O. (1988). The security of investments and the rules governing repatriation of dividends under the structural adjustment programme. CBN Economic and Financial Review, 26(2), 38-45.