End-of-Year Report on the Nigerian Gas Industry and Investment Projections for 2025 and Beyond
INTRODUCTION In our 2024 Mid-Year Report, we reviewed progress under Nigeria’s Decade of Gas policy, major investments, infrastructure development and divestments in the sector by oil majors, the Federal Government of Nigeria’s (FGN) efforts to boost investments through the 2023-2030 Drilling Campaign and Deep-Water Projects, and the funding sources driving these developments. We also highlighted […]
Regulatory Update: Increase in the Minimum Share Capital Requirements for Banks
REGULATORY UPDATE: Increase in the Minimum Share Capital Requirements for Banks Introduction The Central Bank of Nigeria (CBN) recently unveiled the Banking Sector Recapitalization Programme 2024 (the “Programme”) which mandates commercial, merchant, and non-interest banks to increase their minimum paid-in common equity capital before 31st March 2026. This marks the first increase since 2004 and […]
Power Sector Industry Overview 2024
Introduction The year 2024 was transformative for the Nigerian Power Sector, marked by several significant developments including the handover of the 700MW Zungeru hydropower plant, the successful implementation of Service-Based Tariff and the removal of the electricity subsidy for Band-A consumers, the initiation of the transition to State-level regulation, among other milestones. This 2025 Power […]
Beyond Banks and Debt Markets:as a More Flexible Alternative Financing Option for Businesses
Securing capital is integral to the growth of any business and companies typically explore two primary avenues: debt financing and equity financing. While debt financing often involves traditional banks and capital markets (like issuing bonds or commercial papers), these channels are exposed to stringent regulatory hurdles. Private credit has evolved to be a more flexible […]
Examining the Abuse of Naira Notes in Nigeria: A Legal and Comparative Perspective
Introduction Currency serves as the lifeblood of any nation’s economy, embodying its value and facilitating economic transactions. In Nigeria, the Naira stands as a symbol of national pride and economic stability. However, despite its significance, the abuse of Naira notes has become a pervasive issue in the country, undermining its integrity and the respect it […]
Dangote’s Fresh Suit against the Federal Government: Tensions in Nigeria’s Midstream and Downstream petroleum sector continue
In what appears to be a continuation of previous friction in Nigeria’s midstream and downstream petroleum sectors, the Dangote Petroleum Refinery has filed a new lawsuit (Suit No: FHC/L/CS/857/2026) against the Federal Government at the Federal High Court, Lagos Judicial Division. The refinery is asking the Court to nullify the six petroleum import licences issued […]
Is Nigeria’s Regulatory Landscape Built to Support Energy Dependence?: A Case Study of Dangote Petroleum Refinery and Petrochemical (“Dangote”) vs. the Nigerian Midstream and Downstream Petroleum Regulatory Authority (“the Authority’’) & 6 Others.
Introduction Energy is essential for socio-economic development, contributing significantly to poverty reduction, improved quality of life, and national security. Over the past 50 years, the World Energy Assessment has highlighted global advancements while underscoring the importance of energy security—defined as the reliable, affordable, and adequate supply of energy. Nigeria, one of Africa’s leading energy giants, […]
Navigating Divestment in Nigeria’s Oil and Gas Sector: Regulatory Framework, Implications, and Future Prospects
INTRODUCTION Divestment also referred to as ‘divestiture’ is the process wherein a company sells a portion of its assets, often to enhance overall company value and achieve greater operational efficiency. This strategic plot is frequently utilized by companies to offload peripheral assets, enabling their management teams to refocus on their core business with increased precision. […]
Lagos State Government Offers a 90-Day Amnesty for Planning Permit Compliance
Are you a property owner or developer with existing developments lacking proper Planning Permits? This is to inform you that the Lagos State Government is granting a 90-day amnesty period from May 2nd to July 30th, 2024. During this period, Planning Permits can be obtained without incurring statutory penalty fees. To take advantage of this […]
Implementing Executive Order 9 Of 2026
Executive Order 9 of 2026 (the “Order”) is more than a revenue remittance directive. It represents a significant shift in Nigeria’s petroleum governance framework, with implications for operators, investors, regulators, contractors, and the wider energy sector. While much of the public conversation has focused more on the requirement that petroleum revenues be paid directly […]
