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AN INSIGHT INTO THE NATIONAL GAS POLICY

AN INSIGHT INTO THE NATIONAL GAS POLICY

The Federal Government of Nigeria recently endorsed the new National Gas Policy (the ”Policy”) which expands on the approach objectives of the initially launched 7 Big Wins Initiative of the country’s petroleum ministry and the National Economic Recovery and Growth Plan (2017 – 2020). The Policy highlights the objectives and implementation strategy of the Federal… READ MORE

INSIGHT INTO THE EXECUTIVE ORDER ON TAXES, ASSETS DECLARATION

INSIGHT INTO THE EXECUTIVE ORDER ON TAXES, ASSETS DECLARATION

The Acting President, Prof. Yemi Osinbajo, on Thursday, the 29th of June, 2017 signed another Executive Order to strengthen the Voluntary Asset and Income Declaration Scheme (VAIDS), a scheme led by the Federal Ministry of Finance. The Nigerian Voluntary Asset and Income Declaration Scheme (VAIDS) is a time-limited opportunity for taxpayers to regularize their tax… READ MORE

The Nigerian Electricity Supply Industry and the Eligible End-Users

The Nigerian Electricity Supply Industry and the Eligible End-Users

Recently, the Minister of Power, Works and Housing, Babatunde R. Fashola issued a directive – the EC Directive – to Nigerian Electricity Regulatory Commission (NERC) specifying the classes of end-users constituting ‘eligible customers’ in the Nigerian Electricity Supply Industry (NESI), pursuant to Section 27 of the Electric Power Sector Reform Act, 2005 (EPSRA), which allows… READ MORE

PRESIDENTIAL EXECUTIVE ORDERS: IMPACTS ON BUSINESSES IN NIGERIA

PRESIDENTIAL EXECUTIVE ORDERS: IMPACTS ON BUSINESSES IN NIGERIA

Background The Acting President, Professor Yemi Osinbajo, recently signed 3 Executive Orders, on the 18th of May, to improve the budget process of the country, support the implementation of the Local Content policy in public procurement and promote transparency and efficiency in the business environment. The Acting President also addressed civil servants, permanent secretaries and… READ MORE

Good Economics is Bad Governance and Bad Governance is Good Economics: The Case of Nigeria’s Power Sector

The apparent inconsistency of power supply in the nation is enough evidence that the power sector isn’t where it should be. From the year 1999 to present, about 2.4 trillion naira has been appropriated to the power sector. Nigerians haven’t experienced a significant increase in power supply. Due to the current recession, Nigeria is striving… READ MORE

Nigeria’s Import Policy Modification in the Automobile Industry

Nigeria’s Import Policy Modification in the Automobile Industry

In a bid to implement Nigeria’s Port Reformation Initiative and ease inefficiency in the import-export of automobiles, The Nigerian Customs Service (NCS) has stated that it will develop bonded vehicle parks and terminals all over country in January 2017.  In addition, it plans to issue licenses to major dealers to operate in cohesion and enable… READ MORE

China, Africa Partnership

China, Africa Partnership

China is making another major headway in strengthening its relationship within Africa. Chinese companies now control significant market share in the transportation and infrastructure sector across Africa. In a strategic attempt to strengthen the Sino-Africa relationship, the Chinese Foreign Minister, Mr. Wang Yi, visited Africa during the week of Monday the 9th of January 2017…. READ MORE