Best Investment & Business Structuring Lawyers in Makurdi

1. About Investment & Business Structuring Law in Makurdi, Nigeria

Makurdi, the capital of Benue State, follows Nigeria's federal framework for investment and business structuring. At the national level, registration and corporate governance are primarily governed by the Companies and Allied Matters Act 2020 (CAMA 2020), which shapes how businesses form, restructure, and operate. In practice, residents of Makurdi must engage with federal agencies for company formation, tax registration, and investment promotion while also complying with state and local licensing requirements where applicable.

For most forms of business, the pathway begins with choosing the legal structure-sole proprietorship, partnership or a company-then registering with the Corporate Affairs Commission (CAC). Real estate transactions and land use follow the Land Use Act framework, which governs land ownership and transfer in Nigeria. Foreign investors and domestic businesses seeking incentives or streamlined approvals engage with the Nigerian Investment Promotion Commission (NIPC) as part of the investment process. A local lawyer in Makurdi can align these processes with Benue State and Makurdi Local Government requirements.

Understanding these layers helps ensure compliance and reduces delays in establishing, expanding or reorganizing business activities in Makurdi. The practical effect is that your structuring decisions affect governance, taxation, land transactions, and access to incentives. Engaging a lawyer with Makurdi experience helps tailor your structure to sector, ownership, and funding plans.

Key sources for these frameworks include official government agencies that regulate corporate and investment activities in Nigeria. The Corporate Affairs Commission (CAC) and Nigerian Investment Promotion Commission (NIPC) are the primary authorities for company and investment matters, respectively.

Source: Corporate Affairs Commission explains reforms under CAMA 2020 for company formation and governance.

Source: CAC - Corporate Affairs Commission

Source: Nigerian Investment Promotion Commission outlines its mandate to promote, coordinate and monitor investment in Nigeria.

Source: NIPC - Nigerian Investment Promotion Commission

2. Why You May Need a Lawyer

• Starting a business as a foreign or local investor in Makurdi requires coordinating CAC registration, NIPC investment registration if applicable, and potential sector licenses. A lawyer provides a single point of contact to ensure all registrations align with your business plan and funding structure.
• Restructuring from a partnership or sole proprietor to a company helps limit liability and improve access to banking and credit. A lawyer can prepare the appropriate documents, update shareholding, and guide you on governance requirements under CAMA 2020.
• Acquiring land or an office site in Makurdi involves the Land Use Act framework and local consent processes. A lawyer manages title checks, governor consent where required, and ensures the transaction is properly registered.
• Converting and expanding a business name into a limited liability company requires updated filings with CAC and compliance with new governance standards under CAMA 2020. A legal professional helps with timing and document accuracy.
• Entering a joint venture or investment partnership demands a comprehensive shareholder or partnership agreement and clear governance terms. A lawyer drafts, negotiates, and records these agreements to prevent disputes later.
• Handling a dispute with shareholders, partners or investors in Makurdi requires evidence gathering, negotiation and possible court or arbitration relief. A lawyer can preserve your interests and navigate local processes efficiently.

3. Local Laws Overview

Two to three core laws shape Investment & Business Structuring in Makurdi. They operate at the federal level and intersect with Benue State and Makurdi Local Government procedures.

• Companies and Allied Matters Act 2020 (CAMA 2020) - Modernizes company formation, governance, and corporate events in Nigeria. It introduces options such as One Person Company and updates filing requirements with the Corporate Affairs Commission (CAC). Effective from 7 August 2020, with ongoing implementation across states including Benue.
• Land Use Act 1978 - Governs land ownership and transfers in Nigeria, vesting all land in the state governor with control over allocation and consent. This has direct implications for land acquisitions, leases, and project development in Makurdi.
• Nigerian Investment Promotion Commission Act 1995 (as amended) - Establishes the Nigerian Investment Promotion Commission to promote, coordinate and monitor investment in Nigeria. Foreign and domestic investors typically register with NIPC for investment facilitation and incentives.

Recent practical trends include expanded use of online filings with CAC and a push toward clearer governance standards for Nigerian companies under CAMA 2020. For investment promotion, NIPC remains the central point for coordinating incentives and approvals for eligible investments.

Source: Nigerian Investment Promotion Commission documents outline its mandate to promote and coordinate investment in Nigeria.

Source: NIPC - Nigerian Investment Promotion Commission

In Makurdi, you should also consider local licensing and permits from Makurdi Local Government and Benue State departments for specific sectors. While the CAC handles company registration, the Benue State authorities may require sectoral permits or approvals depending on the business type, location, and environmental considerations.

4. Frequently Asked Questions

What is CAMA 2020 and how does it change company setup in Makurdi?

CAMA 2020 updates corporate governance, offers new business forms such as One Person Company, and enhances flexibility in structuring ownership. It also expands directors and shareholder duties and modernizes annual filings with CAC. The changes apply nationwide, including Makurdi-based entities.

How do I register a new company name in Makurdi with CAC?

Start with name reservation at CAC, prepare incorporation documents, and file electronically. CAC processing times vary but typically range from 2 to 4 weeks depending on completeness and government queues. An in-house or external lawyer can streamline this.

What is the difference between a sole proprietor and a company in Nigeria?

A sole proprietor bears unlimited personal liability, while a company provides limited liability protection to shareholders. A company also offers greater access to credit, corporate governance structures, and perpetual succession under CAMA 2020.

How long does it take to obtain governor consent for land in Makurdi?

The timeline varies by transaction complexity and locality but can take several weeks to months. A lawyer can prepare and present required documents to the Benue State Land Registry and coordinate governor consent when needed.

Do I need a lawyer to register a business in Makurdi?

While it is possible to register without a lawyer, a solicitor helps avoid errors, ensures regulatory compliance, and can speed up CAC, NIPC, and local permit processes. This reduces delays and compliance risk.

What costs are involved in registering a Nigerian company in Makurdi?

Costs include CAC filing fees, name reservation, stamp duties, and potential legal fees. Actual amounts vary by entity type and filings, so consult a Makurdi lawyer for a precise quote.

What is the process to convert a business name to a company in Makurdi?

You file a conversion with CAC, prepare a new memorandum and articles of association, and update regulatory registrations. CAMA 2020 clarifies governance requirements for converting entities.

What is the role of NIPC in investment projects in Makurdi?

NIPC promotes and coordinates investment, facilitates investment licenses, and may guide incentives. Foreign and domestic investors in Makurdi engage NIPC to align with national investment policies.

Is a foreign investor required to register with NIPC?

Yes, foreign investors typically register with NIPC to obtain investment facilitation and any applicable incentives. This complements CAC registrations for the Nigerian entity.

Where can I obtain a business permit for Makurdi premises?

Permits are generally issued by relevant Benue State or Makurdi Local Government agencies, depending on the location and sector. A lawyer can identify the exact licensing authority for your business.

Can I access government incentives for investment in Benue State?

Investors may access incentives through NIPC and sector-specific Benue State programs. A local lawyer can determine eligibility and manage the application process.

Do I need to involve land lawyers for property transactions in Makurdi?

Yes, given the Land Use Act rules on consent and transfer, a land lawyer helps with title checks, governor consent if required, and proper registration to avoid disputes.

5. Additional Resources

• CAC - Corporate Affairs Commission - Registers companies and business names, handles incorporation and governance filings under CAMA 2020. Function: regulate company formation and monitor compliance. https://www.cac.gov.ng
• NIPC - Nigerian Investment Promotion Commission - Promotes and coordinates investment in Nigeria, issues investment approvals and incentives in collaboration with federal and state authorities. https://nipc.gov.ng
• FIRS - Federal Inland Revenue Service - Administers federal taxes, registration for tax identification numbers, and VAT compliance for Nigerian businesses. https://firs.gov.ng

6. Next Steps

1. Define your business structure and location Clarify whether you will operate as a sole proprietor, partnership or company, and confirm Makurdi locality requirements. This informs registration and licensing paths.
2. Check name availability with CAC Use CAC’s online portal to reserve a unique name and determine eligibility for incorporation or registration of a business name. Plan for 2-7 days in typical cases.
3. Engage a Makurdi-based lawyer Select a solicitor with experience in corporate law, land transactions, and Benue State licensing. A local adviser accelerates filings and reduces errors.
4. Prepare and file incorporation documents Draft memorandum and articles of association, directors, and beneficial ownership information. Submit through CAC and track progress with your lawyer.
5. Register for taxes and investment incentives Obtain a Tax Identification Number (TIN) from FIRS and, if applicable, complete NIPC investment registration. Your lawyer coordinates the process to avoid delays.
6. Obtain sector licenses and local permits Apply for relevant Benue State or Makurdi Local Government licenses based on your industry and location. Your attorney helps compile required documents.
7. Consider land and real property steps If your project involves land, ensure title due diligence, governor consent where required, and proper registration to secure the asset.