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Cape Town Convention Practice Directions
September 23, 2024Nigeria’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 needed to achieve a higher-level classification.
A Primer on Construction Financing in Nigeria
September 7, 2024Construction 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 or no income but requires significant capital to cover costs like land acquisition, materials, labor, permits, and other expenses.
JCT Standard Form Contracts: 2024 Updates
September 1, 2024On 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 Building Contracts
A Primer on Hell or High Water Clauses in Aviation Leases
May 23, 2024"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 on hell or high water clauses as relates to aviation leases under English Law.
Service-Based Electricity Tariffs in Nigeria: Key Considerations
April 17, 2024The 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
April 12, 2024For 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 draw some key points from aircraft financing transactions, we have advised on for the benefit of lenders and promoters looking to close an airline financing transaction in Nigeria.
Fiscal Incentives for Deepwater & Midstream Developments
March 7, 2024Nigeria’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
March 4, 2024The 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 because price fixing is generally prohibited by Nigeria’s competition law
The Expatriate Employment Levy: New Rules for Sponsoring Foreign Skilled Workers in Nigeria
March 4, 2024The 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”). This policy update attempts to rationalise the Levy for the benefit of foreign skilled workers and their Nigerian employers.