The Nigerian Mining Sector in 2023 – Future Outlook
Despite abundant solid mineral resources, which include gold, lead, zinc, coal, bitumen, iron ore, limestone and barite, the Nigeria mining industry only contributes 0.15 percent to the nation’s GDP. The contribution, projected to hit 0.34 percent in 2025, is far from the three percent target set out in the country’s mining roadmap. The Federal Government, in […]
You Can Now Register Your Company and be the Only Shareholder and Director
Under the Companies and Allied Matters Act 1990(“CAMA”) which is the old law regulating the registration, management and control of companies, business names and incorporated trustees in Nigeria, an individual could not singlehandedly register a limited liability company because the law required a minimum of two shareholders and two directors. As a result, many sole […]
Cyberbullying by Loan App Operators: Ethical Practices in Loan Recovery and Consumer Rights Protection
INTRODUCTION Money lending has long historical roots and financial technology has enabled the recent rise of digital lending platforms. These digital platforms provide quick and easy access to funds. Many digital lenders have emerged, providing credit access to individuals and MSMEs in dire economic straits. However, some digital lenders in a bid to enforce repayment […]
Nigeria Avoids Payment of Us$11 billion Dollar Arbitral Award Debt to P&ID: Is the Legal Battle Really Over?
INTRODUCTION In January 2010, the Nigerian Government entered into a Gas Supply and Processing Agreement (GSPA) with a company known as Process & Industrial Developments Limited (P&ID). Three years after, P&ID declared breach and commenced arbitration proceedings. In two awards issued 17th July 2015 and 31st January 2017, the arbitral tribunal – composed of Lord […]
Data Breach Alert: Is Your Personal Information Safe?
Introduction The recent reports of a data breach at the National Identity Management Commission (NIMC) have raised serious concerns about data privacy and security in Nigeria. This alleged incident reveals the weaknesses in our current data protection system and the pressing need for stricter enforcement. This article examines the breach, its effect on data privacy, […]
Interim Remedies As Tools To Enhance Debt Recoveries In Nigeria
Introduction “The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability…”. Nigeria woke up to the above statement of the Apex Bank on 3rd June 2024 when the operating license of the defunct Heritage Bank Plc was revoked. Reports […]
2024 Mid-Year Report on The Nigeria Mining Sector
INTRODUCTION In our maiden edition, we discussed the major challenges that plague the Mining Sector, juxtaposing them with some initiatives by the Federal Government targeted at addressing a few of these challenges and evaluating how effective they have been through the years. In this Mid-year edition, we seek to revisit the Mining Roadmap of 2016, […]
Mid-Year Report on The Nigerian Gas Industry and Investment Projections for 2024 and Beyond
INTRODUCTION In our 2023 year-end report, we analysed the opportunities, challenges, and transformations experienced in Nigeria’s oil and gas industry, with a particular emphasis on gas. Additionally, we provided industry projections for 2024 and the upcoming years. Our report focused on Nigeria’s energy transition efforts highlighting the nation’s development and utilization journey where we examined […]
What You Must Know About the Deduction of Tax at Source (Withholding) Regulation 2024
The Deduction of Tax at Source (Withholding) Regulation, 2024, was issued by the Federal Ministry of Finance, on July 1, 2024. It stipulates the rules for deducting taxes from payments to taxable persons in specified transactions. This article highlights relevant provisions of the Regulation. 1. Persons Who Must Deduct Tax at Source These entities are […]
Equity Dilution: What Founders and Early Investors Need to Know
Equity Dilution: What Founders and Early Investors Need to Know As startups grow and seek funding, understanding equity dilution is crucial for both founders and early investors. But what exactly is equity dilution, and why does it matter? What is Equity Dilution? Equity dilution happens when a company issues new shares, reducing the ownership percentage […]
