Newsletters

Background The President of the Federal Republic of Nigeria, President Muhammadu Buhari, recently presented the Nigerian Tax and Fiscal Law (Amendment) Bill, 2019 (the Finance Bill) to the National Assembly for consideration and passage into law. The Finance Bill has been...

Background On the 19th of August, 2019, Nigerian Electricity Regulatory Commission (NERC) issued minor tariff reviews (“2016 – 2018 Minor Review Order”) to the Multi-Year Tariff Order 2015-2024 (MYTO 2015), to take into consideration the impact of macroeconomic variables on the...

COVID-19 and Implications of Force Majeure Claims in Contractual Arrangements  Introduction  The sudden and unexpected emergence of the coronavirus (COVID-19 or Virus) pandemic has greatly disrupted the global economy. Countries around the world have imposed travel bans,...

BACKGROUND On 14th January, 2020, President Muhammadu Buhari signed the Finance Act, 2019 (the “Finance Act”) into law. The Finance Act made radical   changes to several provisions of Nigerian tax laws, including the Value Added Tax Act, Cap V1, Laws of the Federation of...

Introduction The Federal Ministry of Works, Power and Housing (MOP) recently issued the following documents: the Power Sector Policy Statement (the Policy Statement); the Power Sector Recovery Plan Policy Statement (the PSRP Policy) and the Power Sector Policy Directives and...

Background  Marginal fields in the petroleum industry are fields which have remained unattended for a period of more than ten (10) years, from the date of first discovery of petroleum products or such fields as the President may, from time to time, identify as being a Marginal...

Introduction The Federal Ministry of Works, Power and Housing (MOP) recently issued the following documents: the Power Sector Policy Statement (the Policy Statement); the Power Sector Recovery Plan Policy Statement (the PSRP Policy) and the Power Sector Policy Directives and...

[vc_row type="vc_default" full_width="stretch_row_content_no_spaces" css=".vc_custom_1500547593342{padding-right: 100px !important;}" el_class="noPaddinRow"][vc_column width="1/6" el_class="noPaddingLeft" offset="vc_hidden-md vc_hidden-sm...

Introduction The Nigerian Value Added Tax (VAT) is a consumption tax that is imposed on the supply of all goods and services that are backed by consideration (i.e. for money or money’s worth) save for the goods and services that are specifically exempted under the First...

Introduction On the 6th of February 2019, the President of the Federal Republic of Nigeria signed the Federal Competition and Consumer Protection Bill into law. Prior to the passage of the Federal Competition and Consumer Protection Act 2018; (the FCCPA), the legal and...

Introduction Following the launch of the Nigerian Gas Flare Commercialization Programme (NGFCP) and the Flare Gas (Prevention of Waste and Pollution) Regulations 2018 (the Regulations) issued by the Minister of Petroleum (the Minister), the Department of Petroleum Resources...

According to the World Economic Forum’s The Global Competitiveness Report 2017–2018, Nigeria ranked 127th out of 137 economies surveyed in terms of the quality of its roads and 131st out of 137 on the overall quality of its infrastructure. Another report published by the...