Under the Act, settlors who are typically petroleum operators, are required to establish and fund these trusts for the benefit of host communities.

The Nigerian Senate recently passed the Deep Offshore and Inland Basin Production Sharing Contract Act 2004 (Amendment) Bill, 2019 (the Bill).

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued an official clarification regarding aviation-related charges in the oil and gas sector, specifically addressing the $300 helicopter levy and terminal navigational charges. This regulatory update provides critical guidance for operators and stakeholders navigating compliance requirements in Nigeria's upstream petroleum industry.

The momentous passage of the Petroleum Industry Governance Bill on May 25, 2017 by the Nigerian Senate was heralded by many as a revolutionary step at creating a legal framework...

This is in a bid to diversify the operations of the NSE and increase its access to capital.

In the bid to establish a more transparent and efficient framework for managing foreign exchange (FX) in Nigeria, the Central Bank of Nigeria (CBN) recently introduced revised guidelines...

Nigeria's capital market has transitioned to a T+1 settlement cycle, reducing the time between trade execution and settlement to one business day. This reform addresses counterparty risk, liquidity constraints and operational inefficiencies that persisted under the previous T+3 and T+2 frameworks, fundamentally reshaping expectations for brokers, custodians and institutional investors.

Prior to the enactment of the Finance Act, 2019, Section 13 of the Companies Income Tax Act as amended, provided the basis for the taxation of the profits of non-resident companies in Nigeria.

A formal letter to Nigeria's Secretary to the Government of the Federation argues that the introduction of state police must be accompanied by constitutional reforms that insulate critical institutions from executive interference. Drawing on South Africa's constitutional model, the author proposes that institutions like the police, INEC, and anti-corruption agencies should derive their independence directly from the Constitution, with security of tenure, guaranteed funding, and accountability to legislative

On 24 January 2022, the Federal Ministry of Interior (FMOI), released new guidelines and requirements which include the mandatory electronic submission of Expatriate Monthly Returns.

The Nigerian Insurance Industry Reform Act 2025 has introduced a more stringent framework for claims settlement, with stronger financial and regulatory consequences for unreasonable delay. This thought leadership article examines how NIIRA 2025 affects the proof of insurer misconduct and the remedies available to policyholders, focusing specifically on unreasonable delay in claims settlement and the significant changes from the previous Insurance Act 2003.

The global crisis should ordinarily present challenges for the Commercial lawyer and expectedly it should present a gloomy picture for the future.

A fuel supplier failed to deliver 2 million litres of Automotive Gas Oil despite receiving ₦705 million upfront payment, leading to litigation that ultimately resulted in a court-enforced settlement.

Generally, the doctrine of privity of contract stipulates that it is only parties to a contract that have right to sue and be sued to enforce the rights and obligations arising from the contract.

Non-agricultural employment in the informal economy represents 66% of total employment in sub-Saharan Africa.

The FIRS has issued a Public Notice directing companies that purchased QCE worth ₦500,000 and above between 2016 and 2021 years of assessment to submit the Certificates of Acceptance issued by the Industrial Inspectorate Division ...

On 9 May 2022, FIRS issued a Public Notice to all taxpayers, tax consultants and the general public requiring companies that enjoyed capital allowances on QCE of ₦500,000 (and above), between 2016 and 2021 years of assessment, ...

The Federal Inland Revenue Service (FIRS) recently released the Income Tax (Common Reporting Standard) Regulations (The Regulations).

Technological advancement has completely changed the way we live. There have been significant improvements in the way goods and services are provided with technological...

As Africa's largest oil producer, Nigeria's growth outlook and fiscal position have been implicated negatively by ‘half-priced' oil.