Venture Capital (Incentives) Act, 1993 🇳🇬

Nigeria Repealed: 2026-01-01

Repeal Notice

This legislation was repealed on 2026-01-01 by Nigeria Tax Act, 2025

Venture Capital (Incentives) Act, 1993

Commenced on 25 August 1993
[This is the version of this document at 31 December 2002.]

[Repealed on 1 January 2026 by Nigeria Tax Act, 2025 (Act 7 of 2025)]

1. Qualification and participation in the National Risk Fund

(1)For the purposes of this Act a venture capital company shall qualify as an investor under the National Risk Fund (in this Act referred to as "the Risk Fund").

(2)For the purposes of this Act, a venture investment shall-

(a)be an investment in a venture capital company; and

(b)qualify for the incentives granted under this Act.

[1999 No. 45.)

2. Venture projects

For the purposes of enjoying the incentives specified in this Act, the Federal Inland Revenue Service shall certify that a venture capital project fulfils or is capable of fulfilling one or more of the objectives set out in this Act, that is-

(a)the acceleration of industrialisation by nurturing innovative ideas, projects and techniques to fruition; or

(b)the commercialisation of resea…

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