Economy

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

Press Statement: Federal Executive Council Approves The National Gas Policy

Press Statement: Federal Executive Council Approves The National Gas Policy

The Federal Executive Council (FEC) Meeting held on Wednesday 28th June, 2017 in Abuja, ended with a major win for Nigeria’s Oil and Gas Sector as the cabinet meeting presided by Ag. President Yemi Osinbajo, approved the National Gas Policy. The Honorable Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu while speaking at… 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

NIGERIA ECONOMIC RECOVERY & GROWTH PLAN 2017-2020 – Overview

NIGERIA ECONOMIC RECOVERY & GROWTH PLAN 2017-2020 – Overview

On Tuesday, March 7th, 2017, the Federal Government of Nigeria released its Economic Recovery and Growth Plan (ERGP). The plan, which is a medium term plan for 2017 to 2020, builds on the Strategic Implementation Plan (SIP) which was developed for the 2016 budget. The objectives of the plan are to restore economic growth, build… READ MORE