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 […]
Zhongshan Fucheng Industrial Investment Co. Ltd V. The Federal Republic of Nigeria: What Are The Facts?
Introduction A lot has been said about the ex parte order granted by the Judicial Court of Paris on 14th August 2024 for the interim attachment of three aircrafts belonging to the Nigerian government. This development has generated several scholarly and enlightening discussions on the legal intricacies stemming from this action (especially as it relates […]
Zhongshan Fucheng Ind. Inv. Co. Ltd v. Nigeria: The Interplay Between Preservative Orders and Sovereign Immunity In the Seizure of Nigeria’s Presidential Jets
Introduction The intersection of pre-enforcement preservative orders and sovereign immunity presents a complex legal conundrum, particularly in cases where State assets are threatened with attachment to satisfy arbitral awards. This complexity was starkly illustrated in the recent seizure of Nigeria’s presidential jets by Zhongshan Fucheng Industrial Investment Co. Ltd (“Zhongshan”). This Chinese company sought to […]
Assessing ‘Mistake’ as a Defence in International Arbitration: The Ogun Free Trade Zone Dispute
Introduction On August 14, 2024, Nigerians were confronted with the alarming news that a Chinese firm had seized three of the nation’s presidential jets under the orders of a French court, a move that has significant implications for the nation. Former Ogun State Governor Ibikunle Amosun, a key figure in this dispute, offered his account in […]
Zhongshan Fucheng Industrial Investment Co. Ltd. V. Federal Republic of Nigeria – Exploring the Options Available to Resist the Enforcement of Arbitral Award
Introduction. It’s a matter of public record that the Federal Republic of Nigeria’s assets have been attached to enforce an arbitral award issued on 26 March 2021 by a UK tribunal. The circumstances leading to this are widely known and do not require further explanation. We have covered the case details in our previous instalment, […]
The Zhongshan Fucheng Industrial Investment Co. Ltd. V. Federal Republic of Nigeria Arbitral Award – Analysis of the Issues
The arbitral award issued in favour of Zhongshan Fucheng against Nigeria by a UK-seated tribunal on 26 March 2021 elicited significant public reactions only after an ex parte order was granted by the Judicial Court of Paris on 14th August 2024 for the interim attachment of three presidential aircrafts belonging to Nigeria. The media is […]
