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 […]
2024 Power Sector Mid-Year Report
In our 2023 Report, we analyzed the level of electricity deficit in Nigeria and examined various initiatives, policies, regulations, and laws aimed at leveraging renewable energy to enhance energy access. This encompassed an evaluation of the Nigerian Energy Transition Plan (NETP) and the Electricity Act 2023. We also made projections on industry and regulatory developments […]
The Nigerian Gas Flare Commercialisation Programme (NGFCP) 2022- A Key Enabler of Nigeria’s Decade of Gas Policy
INTRODUCTION Gas flaring occurs when upstream oil field operators opt to burn the associated gas that accompanies oil production, or simply release it into the atmosphere, rather than build equipment and pipelines to capture it. This is called ‘non-emergency flaring and venting’. It results in the release of substantial volumes of potent greenhouse gases (GHGs) […]
Empowering Nigeria’s Local Governments: Analyzing the Constitutional Basis and Supreme Court Judgment on Financial Autonomy
Introduction The Attorney General of the Federation (“AGF”) filed a suit against the Attorneys General of Abia State & 35 Ors. earlier this year, 2024, aimed at engendering the autonomy of Nigeria’s 774 Local Government Areas (“LGAs”). The Supreme Court, in its judgment delivered on Thursday, 11th July 2024 granted the prayers of the Plaintiff […]
Fuelling Nigeria’s Future: A Roadmap for Domestic Gas Pricing And Regulation (Part 1)
Introduction The Nigerian natural gas sector is a critical component of Nigeria’s energy mix and has significant potential to drive economic growth and development. Nigeria is blessed with abundant gas resources, standing at 209.26 trillion cubic feet (TCF) of Associated and Non-Associated gas as of January 2024, with reserves reported at 102.59 TCF.[1] In light […]
Zhongshan Fucheng Industrial Investment Company Ltd. v. Nigeria: How the Concept of Attribution applies in International Investment Arbitration
Introduction: On 14th August 2024, Nigerians woke up to the news of the seizure of three (3) Nigeria’s presidential jets, as ordered by a French court. The seizure stems from an application by Zhongshan, a Chinese company whose export processing zone management contract was terminated by the Ogun State government in 2016. Before this time, […]
Fuelling Nigeria’s Future: A Roadmap for Domestic Gas Pricing And Regulation (Part 2)
Introduction In Part 1 of this article series on Nigeria’s evolving gas pricing mechanism, we discussed the foundational principles guiding Domestic Base Pricing (DBP) in Nigeria’s domestic gas market. We also analysed the natural gas pricing framework overseen by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (“the Authority”), as well as the pricing frameworks […]
Business Sustainability – Governance, Boards and their Secretaries
Introduction Case Study – The Silicon Valley Start-Up, Theranos Founded by a 19-year-old Standford drop-out in 2003, the story of Theranos, a Med-Tech Start-up in Silicon Valley is one to consider. The company touted a breakthrough in health technology through the use of small automated devices. In 2014, the company became a unicorn, valued at […]
