As governments, organizations, and individuals all over the globe continue to grapple with the precarious economic climate and other hardships occasioned by the COVID 19 pandemic, businesses and individuals are seeking pragmatic ways to ameliorate the effect of the pandemic on their business and personal...
The COVID-19 Snapshot seeks to highlight key changes in laws, regulations and practice due to the outbreak of the global pandemic as it impacts businesses in various key sectors of the Nigerian economy. The key focus areas as highlighted within the document include Corporate Governance...
A. INDUSTRY HIGHLIGHTS AND GLOBAL TRENDS NIGERIA Oil and Gas Oil prices rise as countries ease lockdown Nigeria amending 2020 budget with oil at $20 per barrel – Finance Minister IOCs under-reporting gas flare figures to evade new levies PPPRA delays petrol price update for May amid multiple FX rates Rivers...
Revenue(s) generated from air transportation and related activities is a major contributor to the Nigerian Gross Domestic Product (GDP). However, the current COVID-19 pandemic in Nigeria has greatly affected the activities of the aviation sector. According to Captain Nogie Megisson, the Chairman of Airline Operators of...
The novel Coronavirus Disease 2019 (Covid-19) is fast spreading around the world. The World Health Organization (WHO) declared it a pandemic on March 11, 2020. Presently, Covid-19 has affected 185 countries. The impact of the Covid-19 pandemic is greatly felt in the business sphere, especially with...
The doctrine of last seen is popular in various jurisdictions around the world today. In Nigeria, this doctrine is mostly used in cases involving murder and manslaughter. The doctrine simply means that the person last seen with a deceased bears full responsibility for his or...
Coronavirus Disease (Covid-19) has disrupted virtually all facets of life, including workplace relationships and productivity. Many countries have some form of restriction(s) on gathering in public spaces to stymie the spread of the virus. Some countries are on total lockdown resulting in offices being closed,...
A. INDUSTRY HIGHLIGHTS AND GLOBAL TRENDS NIGERIA Oil and Gas Ø Falling oil price, coronavirus threatens Nigeria’s N10.59tr budget, ECA Ø Nigeria and other OPEC members agree to cut 1.5m barrels of oil production Ø FG to back $2.59bn AKK gas pipeline with sovereign guarantee Ø Dangote Subsea Pipeline to boost Nigeria’s gas supply, reduce flaring Ø US, European...
The Independent National Commission for the Prohibition of Hate Speeches Bill (“Hate Speech Bill”) is an extensive piece of legislation pending before the 9th National Assembly. It covers various issues touching on the concept of hate speech, including the publication or presentation of materials deemed to...
A. INDUSTRY HIGHLIGHTS AND GLOBAL TRENDS NIGERIA Oil and Gas Ø Nigeria’s oil production threatened as OPEC mulls further output cuts on Coronavirus spread Ø Shell sees oil production in Nigeria hit 5-year high Ø Nigeria’s planned increase in modular refinery capacity may have hit dead end Ø NNPC swapped N3.04trn crude for refined products in 12...