Nigeria

Nigeria, with its vast natural resources and status as Africa’s largest economy, holds significant potential for high net worth business investors. The nation’s burgeoning entertainment and tech sectors, especially in Lagos, present exciting opportunities. Real estate in upscale areas offers long-term investment prospects. However, investors must navigate challenges like complex regulations and political instability. Despite this, Nigeria’s vibrant culture, entrepreneurial spirit, and demographic dividend — a large, youthful population — add to its allure as a destination for a second residence and business expansion.

Nigeria Golden Visa

Nigeria does not currently offer a golden visa or citizenship by investment programme similar to those offered by some other countries. Such golden visa programmes often allow individuals to obtain citizenship or residency rights through substantial investment, typically in real estate, national development funds, or local businesses.

Residency and Citizenship in Nigeria

Among others, visa categories to live or work in Nigeria include:

Business Visa

Business visas are granted to individuals who are visiting Nigeria for business-related purposes, such as meetings, conferences, trade, or investment activities.

Temporary Work Permit

This visa category is for foreign nationals who have secured employment in Nigeria on a temporary basis. It allows them to work legally in the country for the duration specified on the permit.

Student Visa

Student visas are for foreign students enrolled in educational institutions in Nigeria. To obtain a student visa, you typically need an admission letter from a Nigerian educational institution.

Residence Permit

A residence permit may be issued to foreign nationals who wish to reside in Nigeria for an extended period. The permit can be obtained for various purposes, such as employment, business, or retirement.

Nigeria Passport Strength and Ranking

If Nigeria were to offer a Citizenship by Investment programme, one of the concerns for applicants would be its passport. The Nigerian passport offers visa-free access to around 54 countries worldwide. It is one of the weakest passports in Africa and the rest of the world. In terms of access for business people, those 54 countries account for just 2.1% of the world’s wealth (as measured by GDP) and 3.1% of the global travel popularity. It ranks 195^th overall in La Vida’s comprehensive Global Passport Ranking. This is a key factor in why Nigerians are one of the most active seekers of a second citizenship and related passport in countries such as St Lucia and Dominica. Nigerians are also very active in seeking out a second residency in Europe with the golden visa in Portugal and its offer of Schengen visa-free travel a popular attraction.