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....
Avoiding Permanent Establishment Risk – Nigeria’s New Dependent Agents Rule
Presidential Order 5 has thrown up an array of contracting structures between local promoters and foreign OEMs and partners looking to bid for government contracts. These contractual arrangements are increasingly subject of litigation both from a taxation point of view...
What is Spectrum Licensing?
A radio spectrum is typically the primary the subject of spectrum licensing and as such, it does help to have a background knowledge of what a radio spectrum. In simple terms, a radio spectrum is an electromagnetic spectrum of wave...
3.5GHz Spectrum Band Auction to Support 5G Deployment in Nigeria
The Nigerian Communications Commission (NCC) has commenced a public consultation in regard to the upcoming auction of the remaining lots of 2 x 100MHz in the 3.5GHz spectrum band to support 5G deployment in Nigeria
What is a Permanent Establishment? Do you Have One?
If a foreign business has a Nigeria permanent establishment (PE) then the profits of the business that are attributable to that PE, either directly or indirectly, are chargeable to Nigeria tax.
Recent Policy & Regulatory Developments in Nigeria’s Electricity Metering Sub-Sector: Policy Somersault or Broad Consultation?
In Nigeria, up to 8 million electricity customers do not have electricity meters but they consume electricity. What happens is that an electricity distribution company (“DisCo”) estimates the amount of electricity used in arrears and sends an estimated bill to...
Key Market Entry Considerations for Meter Asset Providers in Nigeria’s Power Sector
The Nigerian Electricity Regulatory Commission (NERC) recently issued the Meter Asset Provider Regulations 2018 (The MAP Regulation). The key regulatory objectives of the MAP..
Schools & other Educational Institutions May Now Be Subject to Corporate Taxes in Nigeria
February 13, 2019 There is a new legal development in Nigeria’s education sector that further pushes the envelope on the question as to whether schools in Nigeria are subject to corporate taxation. The new development races towards the conclusion that...
An Overview of Nigeria’s New Infrastructure Tax Credit Regime
Nigeria is implementing a new Road Infrastructure Credit Scheme for private companies, special purpose infrastructure funds and institutional investors ("Participants").