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.
Infrastructure Funds: Key Protections for Investors in Nigeria
For global pension funds and institutional investors investing in Nigeria's infrastructure sector for the first time, investing in Nigeria through an infrastructure fund addresses some of the traditional risks associated with emerging/frontier markets and provides some level of risk management....
Carbon Emissions Trading: Key Considerations for Investors
The carbon emissions trading market is finally taking off in Nigeria. There are at least 5 regulatory developments which support this conclusion. First, is the publication of the revised National Policy on Climate Change (2021-2030)
Assignment or Transfer of License & Permit Regulations, 2023: Some Key Considerations for Investors
Petrol stations, pipeline companies, products storage, gas distribution & oil refining companies are now required to obtain regulatory consent for a change of their names and for a transfer/sale of their licenses or permits (“License”)[1]. This requirement is as per...
Mini-Bid Licensing Rounds 2022 – A Highlight of the Bid Submission Regulations for Offshore Petroleum Prospecting Licenses in Nigeria
On December 21, 2022, the Federal Government of Nigeria through the Nigerian Upstream Petroleum Regulatory Commission (the “Commission”) announced licensing rounds for seven (7) offshore blocks covering an area of approximately 6,700 km2 in water depths of 1,150m to 3,100m....