Legality of Placeholder Arrangement in the Nigerian Electoral Process
The Constitution of the Federal Republic of Nigeria, 1999 (the 1999 Constitution) and the Electoral Act, 2022 place premium on the power of political parties to hold, conduct, administrate and coordinate their primaries (either through election or consensus). This is a necessary procedure for submission of nominated names to the Independent Electoral Commission (INEC) as […]
Overview of the Nigerian Mining Sector: Challenges and Opportunities
Nigeria is richly endowed with abundance of mineral resources. The country boasts of more than 40 valuable mineral deposits including clay and kaolin, gold, gypsum, iron ore, lead and zinc, phosphate, and tin across the 36 States. Baryte, bitumen, coal, gold, iron ore, and limestone, lead-zinc and coal have been identified by the Federal Government […]
AFCFTA – Remarkable Feat on the Negotiations on Rules of Origin and the Introduction of a Payment Gateway
At the 8th meeting of AfCFTA Council of Ministers convened in Accra from 28-29 January 2022, some remarkable progress was recorded with regard to the implementation of AfCFTA (“AfCFTA, free trade pact”). Key take-home were: • The addition of 850 products to existing products with agreed rules of origin; • The launch of the Pan […]
Going Public Through Special Purpose Acquisition Vehicle (SPAC)
Special purpose acquisition vehicle (SPAC) is regarded as a “blank check” company without any business interest or performance history, set up specifically for raising capital from the public for the purpose of acquiring a target company. A company can go public through the traditional initial public offering (IPO), or through the novel option of a […]
Transparency in Resource Governance in the Oil and Gas Industry
The Nigerian economy is heavily dependent on the oil and gas sector. The sector accounts for about 65% of government revenue and 88% of the nations export earnings. However, what the nation earns in oil revenue cannot meet its budgetary needs, hence, the need to service some of her expenditure through debt. A number of […]
Regulation of Building Projects in Nigeria – Inadequate or Unenforced? A Case Study of Lagos State
The recent collapse of a 21-story building on Gerard Road, Ikoyi area of Lagos State and the consequent loss of precious lives in that debacle has once again brought to fore the persisting unresolved issues plaguing the built environment sector in Nigeria and the inadequacy of existing measures put in place to safeguard the life […]
Naira’s Digitization via the E-Naira: Beyond Financial Inclusion
Nigeria’s monetary system has seen considerable reforms in the past years. In carrying out its supervisory functions, the Central Bank of Nigeria (“CBN”) has developed various monetary policies to ensure the system’s effectiveness, including ensuring the use of emerging technologies in advancing its goal of closing the access gap to financial services. The development of […]
The Taxing Powers of the Government on Value Added Tax (Vat) in Nigeria
INTRODUCTION It is a truism that no government can function properly without revenue. Revenue helps government meet its numerous responsibilities of improving the quality of life of the citizenry. Cost of governance can only be financed through sustainable source of revenue by the government. One of the major ways a government can actualize and sustain […]
Review of the Petroleum Industry Act 2021
The President of the Federal Republic of Nigeria, President Muhammadu Buhari, finally signed the Petroleum Industry Bill (“PIB”) 2021 (now Petroleum Industry Act, “PIA”, the “Act”) into law on August 16, 2021, well over a decade after the first draft of the Bill was presented to the National Assembly. Although the PIA did not specify […]
Should Startups and Innovators be Concerned About the Proposed National Information Technology Development Agency (“Nitda”) Act 2021?
The National Information Technology Development Agency Bill 2021 (the “Bill) which suddenly came into circulation in the past week, has raised concerns amongst industry stakeholders. Although it is presumed that this Bill emanated from NITDA itself, we are not certain of this fact. World over, the exponential growth of the digital economy has stirred up […]
