The Legal Advisor
Ring in the New Year with Insight! Welcome to the inaugural issue of “The Legal Advisor” by Tope Adebayo LP, your go-to resource for everything in Corporate and Commercial Law! This 2024 kick-off edition dives deep into the groundbreaking trends revolutionizing M&A, SPACs, ESG investing, and Innovative Financing. Get the inside scoop on what’s shaping […]
Procedure for the Registration of Title to Land in Nigeria
Ownership and transfer of land is the gamut of the real estate sector in Nigeria. The real estate sector in Nigeria is one of the most thriving industries in the country and although the circumstances and peculiarity of each land or property transaction vary, what will be found is that individuals, corporations, and investors tend […]
Is the Requirement of a “Cooling-Off” Period in Arbitration a Procedural Matter or a Strict Jurisdictional Issue?
Given the global economic realities, resolution of disputes has become a necessary aspect of commercial negotiations by parties. The outcome of these negotiations would usually culminate in the parties agreeing on the modalities for resolution of their disputes which will inform the fine print of the relevant dispute resolution provisions in their agreement. However, within […]
Unlisted Securities in Mutual Funds: Assessing Liquidity Prospects
Mutual funds have long been an investment vehicle for individuals seeking diversification in investments and professional management. Their objectives often revolve around capital appreciation, income, or a combination of both. In the world of capital markets, choices abound. Typically, securities in Nigeria are traded after being listed on formal exchanges such as Nigerian Exchange Ltd […]
Oil Licensing Regime Under the Petroleum Industry Act 2021 (Part 4): Petroleum Mining Lease
Having satisfied all conditions imposed on the licensee and contained in the Oil Prospecting Licence (OPL), and upon commercial discovery of oil, a holder of an OPL was required to obtain an Oil Mining Lease (OML). The OML not only entitled the holder to the right to win and work petroleum discovered but also the […]
Oil Licensing Regime Under the Petroleum Industry Act 2021: Grounds for the Revocation of a Petroleum Prospecting Licence (PPL) (Part
Under the Petroleum Act (PA), there were 5 major grounds on which an Oil Prospecting Licence (OPL) could be revoked. Following the enactment of the Petroleum Industry Act (PIA) 2021, the grounds for revocation of a Petroleum Prospecting Licence (hereinafter referred to as “PPL” or the “Licence”) have been expanded to include circumstances not withtin […]
Constitutional Amendment on the First Session and Inauguration of Members-Elect of the National and State House of Assembly.
Recently, the wind of amendment which greeted the Constitution of the Federal Republic of Nigeria, 1999 was received with pageantry and aplomb. The news broke when most media outlets in the country reported that President Muhammadu Buhari had assented to sixteen (16) Constitution Alteration Bills presented to him by the National House of Assembly. One […]
Raising Capital Through Commercial Paper: Why Corporations Should Adopt a More Cost-Efficient Option
Businesses seeking to raise capital have a choice between equity or debt financing. Given the increase in inflation and interest rates, it is commercially prudent to adopt short-term debt financing like commercial papers as an easy way to raise cost-efficient capital for a short term, usually less than a year. The money market is becoming […]
Oil Licensing Regime Under the Petroleum Industry Act 2021 (Part 2): Petroleum Prospecting Licence (Contd.)
In the preceding article of this series, we examined a number of modifications made by the Petroleum Industry Act (PIA) 2021 to the Oil Prospecting Licence (OPL) regime in Nigeria in terms of the granting authority, award process and duration of the licence. In the subsequent paragraphs, we shall review modifications relating to the assignment, […]
Oil Licensing Regime Under the Petroleum Industry Act 2021 (Part 2): Petroleum Prospecting Licence
Under the old regime of the Petroleum Act 1969 (PA), upon the grant of an Oil Exploration Licence (OEL) and subsequent discovery of hydrocarbon within the licence area, a licensee who intended to proceed to the next stage of upstream petroleum operations was required to obtain an Oil Prospecting Licence (OPL) from the Minister of […]
