Nigeria’s IPO Lull: When do the Clouds Finally Gather?

“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 decline of initial public offerings (“IPOs”) in Nigeria since the 2007-2008 global financial meltdown. The period 2009 till date has witnessed a lamentable dearth of IPOs.

In this paper, I examine the IPO process in Nigeria, highlight the factors which may militate against company listings and proffer policy recommendations to improve and engender IPOs in Nigeria.

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KEY DEVELOPMENTS IN THE ADMINISTRATION OF NIGERIA’S PERSONAL DATA SECURITY LAWS

Since the enactment of Nigeria’s Data Protection Act in June 2023, the Nigeria Data Protection Commission has introduced key compliance directives, audit requirements, and classification guidelines for Data Controllers and Processors. Recent judicial rulings have also shaped regulatory expectations. How do these developments impact businesses and compliance strategies?

THE NIGERIAN NAVIGABLE WATERWAYS AND THE DOCTRINE OF COVERING THE FIELD: THE REVERBERATING ECHOES OF THE SUPREME COURT DECISION IN N.I.W.A V L.S.W.A

The Supreme Court’s decision in N.I.W.A v. L.S.W.A marks a turning point in Nigerian Maritime, Taxation, and Constitutional law. By reaffirming federal supremacy over navigable waterways, the apex court promotes a unified legal framework vital for economic growth. Discover the intricate details of this landmark case and its implications for regulatory authority and taxation.

UNLOCKING THE FUTURE OF NIGERIA’S POWER SECTOR: APPRAISING NERC’S BILATERAL TRADING ORDER VIS-À-VIS THE APPLICATION BY NBET FOR THE RENEWAL OF ITS LICENSE

The Nigerian Electricity Regulatory Commission’s recent Order is transforming Nigeria’s power sector, transitioning from a centralized trading model to a competitive bilateral trading system. This shift ends NBET’s monopoly, empowering GenCos and DisCos to engage directly in energy trading. But with NBET’s license renewal under consideration, the future of this reform hangs in the balance.