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Nigeria > Law firm and leading lawyer rankings

Editorial

Legal market overview

 

Nigeria has experienced growth in its agricultural and solid minerals sectors, but the country’s economy has been impacted by the drop in crude oil prices, sales of which account for around 70% of government income. After initial delays, the government allowed its currency – the naira (₦) – to trade freely and is expected to sell off several lucrative state assets to boost public finances.

 

 

The Nigerian legal system is based on English common law, as modified by legislation, Nigerian court decisions, the Constitution, Customary law and Islamic law. Foreign lawyers are not entitled to practise law in Nigeria unless they have also been called to the Nigerian Bar and foreign law firms cannot obtain a licence to open an office. Consequently, domestic legal practices dominate transactional and contentious practice areas: examples include Aluko & Oyebode, Banwo & Ighodalo, G. Elias & Co, AELEX and Udo Udoma & Belo-Osagie.

 

 

Significant domestic legal market news included Bloomfield Law Practice hiring aviation and shipping law expert Adedoyin Afun as well as power, oil and gas specialist Ayodele Oni from Banwo & Ighodalo.

 

 

Certain international firms also regularly act on Nigeria-related matters. At Clifford Chance, Frankfurt-based and Nigeria-qualified partner Edmund Boyo is a member of the firm’s global energy and infrastructure group, frequently working on Nigerian transactions. He is particularly noted for international project financings in the roads, ports and airports sectors, as well as in the energy, mining and telecoms industries.

 

Firms in the spotlight

Olaniwun Ajayi LP
www.olaniwunajayi.net

Olaniwun Ajayi LP is a leading law firm with a broad financial, corporate, energy and natural resources, and regulatory advisory practice. With over 50 years’ experience in helping organisations, governments and individuals achieve their goals, the firm has developed particular expertise in sophisticated commercial transactions, a fact illustrated by a track record of involvement in some of the largest and most complex transactions across many dynamic sectors of the Nigerian economy.

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