Cape Town Convention Practice Directions
Nigeria’s recent classification by the Aviation Working Group (AWG) ranks at a medium level, two tiers below the high and very high categories. In this update, we explore the key factors behind Nigeria’s medium-level ranking and outline the essential milestones...
A Primer on Construction Financing in Nigeria
Construction financing refers to a short-term loan specifically used to fund the construction of a building or other real estate project. For real estate developers in Nigeria, this financing is essential during the construction phase when the project generates little...
JCT Standard Form Contracts: 2024 Updates
On August 21, 2024, the Joint Contracts Tribunal (JCT) published 2024 updates to the Standard Building Contracts and associated sub-contracts suite. This follows the release of earlier updates, such as the Design & Build Contract, Minor Works Contracts, and Intermediate...
A Primer on Hell or High Water Clauses in Aviation Leases
"Hell or high water clauses" are a standard fixture of aviation leases and it appears that courts will generally enforce "hell or high water clauses" in aviation leases, in the absence of extenuating factors. This legal update provides a primer...
Service-Based Electricity Tariffs in Nigeria: Key Considerations
The increase in the price of electricity tariffs payable by electricity customers in Band A, as notified in the 2024 Multi-Year Tariff Order puts into sharp focus the legal framework around Service-Based Tariffs in Nigeria
Aircraft Financing in Nigeria: Some Key Legal Considerations
For a number of reasons, aircraft financing is one of the more complex forms of corporate financing. Where the airline borrower or lessee is operating in a developing country like Nigeria, another layer of intricacy emerges. In this update, we...
Fiscal Incentives for Deepwater & Midstream Developments
Nigeria’s President recently announced a number of fiscal incentives and administrative changes aimed at improving the competitiveness of the oil and gas industry in Nigeria and making Nigeria a more attractive destination for global oil and gas investments relative to...
Fixing the Price of Cement in Nigeria: Some Key Competition Law Considerations
The recent announcement of an agreement between the Nigerian Government and cement manufacturers in Nigeria to peg the price of a 50kg bag of cement at between N7000 and N8000 (the “Pricing Mandate”) raises some important questions of competition law...
The Expatriate Employment Levy: New Rules for Sponsoring Foreign Skilled Workers in Nigeria
The latest policy of the Nigerian government impacting the sponsorship of skilled foreign workers for employment in Nigeria is a new annual expatriate employment levy of up to $15,000 payable by Nigerian companies for each skilled foreign worker (the “Levy”)....
Nigeria’s Carbon Market Activation Plan
Nigeria is making concerted efforts to grow its carbon market. This policy update highlights some of the recent policy developments in Nigeria's carbon market.