On 29th July 2024, the Nigerian government approved a game-changing directive for the oil industry. Starting October 1st, NNPCL will sell crude oil to local refineries in Naira, a move designed to stabilize fuel prices and ease foreign currency pressures....
On 29th July 2024, the Nigerian government approved a game-changing directive for the oil industry. Starting October 1st, NNPCL will sell crude oil to local refineries in Naira, a move designed to stabilize fuel prices and ease foreign currency pressures....
The Lagos State Electricity Bill 2024 promises to reshape the power landscape of Lagos by creating an independent electricity market, reducing reliance on the national grid, and promoting renewable energy. With its focus on regulatory oversight, off-grid...
The Money Laundering (Prevention and Prohibition) Act, 2022 introduces stricter regulations for financial and non-financial businesses in Nigeria. It mandates reporting suspicious transactions, customer identification, and record-keeping, with significant...
In a landmark decision, Nigeria\'s Supreme Court has reinforced the financial autonomy of Local Governments, ruling against State Governors withholding funds. This judgment empowers Local Governments to receive direct allocations from the Federation Account,...
Nigeria\'s Ministry of Finance issued the Deduction of Tax at Source (Withholding) Regulation 2024, reshaping the rules for Withholding Tax (WHT). This regulation emphasizes that WHT should not add extra costs to contracts. This article explores gross-up...
Corporate espionage, or industrial espionage, involves obtaining trade secrets from competitors through illegal or unethical practices. This act poses a grave threat to businesses, leading to devastating financial consequences. As technology advances,...
Recent months have seen significant changes in the Nigerian Electricity Supply Industry (NESI) due to a Constitutional amendment and the Electricity Act 2023 (EA 2023). These reforms aim to decentralize the system, increasing sector activity. Despite...
Recent months have seen significant changes in the Nigerian Electricity Supply Industry (NESI) due to a Constitutional amendment and the Electricity Act 2023 (EA 2023). These reforms aim to decentralize the system, increasing sector activity. Despite...
Nigeria, a major crude oil producer, is often called a gas province with some oil. Despite vast natural gas resources estimated at over 200 trillion cubic feet, gas revenue lags behind oil. This highlights missed opportunities in revenue and energy development....