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On April 26, 2018, the Nigerian Securities and Exchange Commission (SEC) approved the Nigerian Stock Exchange (NSE) drafted Rules on Suspension of Trading in Listed Securities (Trading Suspension Rules). About 180 days earlier, SEC had instructed the...
The Nigerian parliament which comprises of the House of Representatives and the Senate would be holding public hearings on the following bills in the coming days;
(i) Petroleum Industry Fiscal Bill 2018,
(ii) Petroleum Industry Administration Bill 2018...
The Alternative Securities Market (“ASeM” 0r the “Market”) was officially launched on April 23, 2013 and celebrates its 5th year in less than a month. We thought it best that the Market celebrates with a consideration of the advancement of its peers in...
On Thursday, February 8, 2018, the Executive Governor of Lagos State, Akinwunmi Ambode signed the Lagos State Electric Power Sector Reform bill into law (the “Law”). The Law establishes an Embedded Power Scheme (the “Scheme”) in Lagos State (the “State”)...
“IPO activity in the year remained mute …” so said Mr. Oscar Onyema, CEO of Nigeria’s premier and biggest bourse, the Nigerian Nigerian Stock Exchange(”NSE”), while giving his review of the 2017 calendar year and outlook for 2018.
There hasbeen a steady...
On 29 December 2017, the Nigerian President signed into law the Niger-Delta Development Commission (Establishment)(Amendment) Act (“Amendment Act”). The Amendment Act amends the provisions of Section 14(2)(b) of the Niger-Delta Development Commission...
As we commence 2018, we thought to examine landmark events in 2017 in the Energy space (i.e. oil, gas and power) and offer some insight on what we expect in these sectors in 2018.
Highlights:
Upstream:
Commencement of renegotiations of Production Sharing...
On June 22, 2001, a new regime of real property taxation commenced in Lagos State with the Land Use Charge Law, No. 11 of 2001 (the “Law”). The stated objective of the Law is to generate additional revenue via taxes to contribute to the development of...
As the Nigerian government considers holding a bid round for marginal fields, we thought to highlight 10 things to expect when the bid guidelines are released by the Department of Petroleum Resources.
The fields on offer would be publicly announced.
Applicable...