Overview

The Industrial Inspectorate Act establishes the Industrial Inspectorate Division within the Federal Ministry of Industries in Nigeria. The Division is tasked with investigating and monitoring industrial undertakings, including investments and capital expenditures. It consists of a Director and inspectors who are public servants. The Division's duties include carrying out investigations into proposed, new, and existing undertakings to determine investment valuations, such as actual capital employed and valuation of buildings, plants, and machinery. It also obtains information on economic trends and maintains detailed records. Any person proposing to start a new undertaking with capital expenditure of at least twenty thousand naira or to incur additional capital expenditure of at least twenty thousand naira for an existing undertaking must notify the Director. The Act provides for arbitration in case of disputes, and decisions are binding. It requires returns on various matters, imposes penalties for non-compliance, grants powers to enter premises and obtain information, and includes provisions for offences by bodies corporate. The Act also outlines regulations and interpretation of terms.

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