Should Startups and Innovators be Concerned About the Proposed National Information Technology Development Agency (“Nitda”) Act 2021?
The National Information Technology Development Agency Bill 2021 (the “Bill) which suddenly came into circulation in the past week, has raised concerns amongst industry stakeholders. Although it is presumed that this Bill emanated from NITDA itself, we are not certain of this fact. World over, the exponential growth of the digital economy has stirred up […]
Review of the Petroleum Industry Bill 2021 – Part Three
Establishment and Objectives Section 29 (1) of the Petroleum Industry Bill 2021 establishes the Nigerian Midstream and Downstream Petroleum Regulatory Authority (the “Authority”) to oversee and regulate the technical and commercial aspects of both the midstream and downstream operations in the Nigerian oil and gas industry. Much like the Commission established to oversee upstream operations, […]
Review of the Petroleum Industry Bill 2021- Part Two
In the first instalment of our series on the review of the Petroleum Industry Bill 2021 (“PIB”, “Bill”), we focused briefly on ownership of petroleum, objectives and the extent of the powers of the Minister under the PIB as opposed to the subsisting provisions under the Petroleum Act (“PA”) under Chapter One, Parts I and […]
Review of the Petroleum Industry Bill 2021- Part One
After almost two decades, the long and protracted reform process of the Petroleum Industry Bill 2020 (“PIB”, “Bill”) culminated in the splitting of the Bill into four smaller legislations for quicker passage covering industry governance, fiscal management, industry administration, and host and impacted communities development. These various segments have now been merged into one cohesive […]
The Department of Petroleum Resources’ Guidelines for the Award and Operations of Marginal Fields in Nigeria 2020
The Department of Petroleum Resources (DPR) on May 31st 2020, issued approved Guidelines for the Award and Operations of Marginal Fields in Nigeria and announced that the marginal fields bid rounds for 2020 will commence on Monday June 1st, 2020. After two previous stalled attempts to conduct marginal field rounds (2013 and 2017) following from […]
The Impact of the 2020 Finance Act on the Oil and Gas Industry in Nigeria
So, we’ve all heard about the trending Finance Act, 2020 (the “Act”) signed into law by President Muhammadu Buhari on Monday 13th January, 2020. The Act has made sweeping changes to a number of existing tax laws namely: Companies Income Tax Act, Value Added Tax Act, Customs and Excise Tariff Act, Personal Income Tax, Capital […]
A Consideration of the Amendments to the Deep Offshore and Inland Basin Production Sharing Contract Act
On the 4th of November, 2019, President Muhammadu Buhari signed the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Amendment Bill into law. The amendment introduced major changes to the Deep Offshore and Inland Basin Production Sharing Contract Act (the PSC Act or the Act). Before considering the amendments in detail, we give a […]
A Report on the Nigerian Gas Industry and Investment Projections for 2024 and Beyond
As we stride into the new year, it is important to look back on the opportunities, challenges, and transformations witnessed so far within the oil & gas industry. This retrospective analysis serves as a compass to guide us in shaping insightful industry projections for the new year. Amidst global shifts in energy paradigms and local […]
Unveiling Nigeria’s Carbon Market: Policies, Progress, and Prospects
INTRODUCTION World leaders gathered in Paris during the 2015 UN Climate Change Conference (COP21) to endorse the Paris Agreement; an International Energy Treaty grounded in the 1992 United Nations Framework Convention on Climate Change (UNFCCC). Within this pact, they committed to curbing the global rise in temperature to under 2 degrees Celsius above pre-industrial levels, […]
Revitalizing Investments in the Nigerian Oil and Gas Industry: The Presidential Order and Directives
On the 28th of February 2024, the President of the Federal Republic of Nigeria signed a Presidential Order and 2 Directives (the “Presidential Directives”) aimed at reattracting investments into the Nigerian Oil and Gas Industry which has been on the decline in recent years. These Presidential Directives aim to tackle the issue of low investments, […]
