A Review of the Approved Framework for Seamless Operationalization of Domestic Crude Oil Supply Obligations (“DCSO”) 2024 Introduction: One of the main concerns of countries all over the world is the issue of energy security. Energy-rich nations must contend with issues related to energy security. For instance, Nigeria’s economy in which crude oil and natural […]
CategoriesLaw News Regulator UpdatesSPOTLIGHT ON THE ORDER OF TRANSFER OF REGULATORY OVERSIGHT OF THE ELECTRICITY MARKET IN IMO STATE FROM NERC TO THE IMO STATE ELECTRICITY REGULATORY COMMISSION (“ISERC”). Introduction: On June 27th, 2024, the Nigerian Electricity Regulatory Commission (“NERC”) issued an Order to transfer the regulatory oversight of the Electricity Market in Imo State to ISERC. This […]
CategoriesFirm Update NewsINVESTMENT GUIDE: DOING BUSINESS IN NIGERIA With immense growth in technology and globalization, cross-border investments have taken prime positions in global economies. As a developing country with immeasurable growth potential, Nigeria ranks as the largest oil producer in Africa and the 11th largest oil producer in the world. Aside from available oil and gas reserves, […]
CategoriesNewsPresident Muhammadu Buhari, on 16 August 2021, signed the Petroleum Industry Bill (PIB), 2021 into law, following its passage by the National Assembly in July 2021, ending a long wait since the early 2000s. This marks a significant milestone for Nigeria’s oil industry and a historic achievement.
CategoriesNewsThere has been recurring clamour for recapitalisation of the Insurance sector in Nigeria owing to what has been perceived as declining public confidence in the sector’s integrity, ability to honour insurance claims and general state of well-being. In other to arrest this loss of confidence, NAICOM has introduced a Tier-Based Minimum Solvency Capital (TBMSC) framework […]
CategoriesNews Regulator UpdatesPursuant to the powers conferred on him by the Constitution of the Federal Republic of Nigeria and the provisions of section 23(2) of the Companies Income Tax Act (CITA)[1], the Nigerian President, Muhammadu Buhari, GCFR, recently signed into law, Executive Order No. 007 of 2019
