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ZIMBABWE: Solgas Energy commissions its 5 MWp Cross Mabale solar power plant Renewable energy producer Solgas Energy is commissioning its Cross Mabale solar power plant in the northern Matabeleland province. The plant, which is connected to the Zimbabwean national grid, has a capacity of 5 MWp. A solar photovoltaic power plant goes into commercial operation […]

The passage and signing of the highly anticipated Petroleum Industry Act is a landmark in the oil and gas industry. The Act provides legal, governance, regulatory and fiscal framework for the Nigerian Petroleum Industry and development of Host Communities. For more information on key provisions of the Act click here to learn more

FG Okays N35bn For NEPZA Power Station The federal government yesterday approved the sum of N35billion for the building of a power station by the Nigerian Export Processing Zone Authority (NEPZA) in Akamkpa, Cross River State. ØMinister of Industry, Trade and Investment, Niyi Adebayo, disclosed this to State House correspondents after the virtual federal executive […]

Nigeria’s External Reserves Hit $36.23b on Higher Crude Oil Prices Nigeria’s foreign exchange (forex) reserves rose from $34.94 billion last November to $36.23 billion by January 21, 2021 on the back of increase in global crude oil prices. Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, who spoke at the end of the Monetary Policy […]

Introduction The Department of Petroleum Resources (DPR) on Sunday, 11th October 2020 released Guidelines for the Establishment and Operations of Downstream Gas Facilities. The Guideline is issued pursuant to Petroleum Act 1969, Mineral Oils (Safety) Regulations (MOSR) 1997 and the Petroleum Regulations 1967. It stipulates the minimum requirements, procedures and conditions to be fulfilled before […]

Angel Investing is a type of business funding where high net worth individuals invest in early stage high growth private companies. Angel Investors fill the equity finance gap between start-up and seed capital (usually from founders and ‘family and friends’) and venture capital. Regulation of Business Angel Investment in Nigeria There are no specific regulations […]

Introduction It is no longer news that crude oil dominates Nigeria’s economy, accounting for about 90% of the country’s foreign exchange earnings. For some years now, successive governments have attempted to pass an all-encompassing Petroleum Industry Bill (PIB or the Bill) to no avail. Now, the present administration has sent a new PIB to the National Assembly. The […]

One of the biggest problems faced by the Insurance Industry in Nigeria is lack of awareness. Most people are not aware of the existence of Insurance neither do they know its relevance. There are certain insurance policies that the Federal Government of Nigeria has made compulsory for every individual and business in the country to […]

In order to promote the ease of doing business in Nigeria, the Nigerian Senate passed the Companies and Allied Matters bill which was assented to by President Muhammed Buhari in August 2020. The new Companies and Allied Matter Act (CAMA) repeals the old Companies and Allied Matters Act of 2004. These are some of the […]

Financial technology has gained acceptance within the country to remain competitive in the financial services ecosystem. ​Financial companies (FinTech) have emerged to offer operational services to Banks and other financial institutions, and the public. Our focus in this article shall be on switches as a payment system. Operation Of Fintech Companies FinTech companies basically operate as Payment Service Providers that […]

With the advancement in technology and the accompanying digitisation and globalisation of businesses and personal data, cyber-crime is on the rise. To ensure the protection of personal data of individuals and of privacy rights, the National Information Technology Development Agency (NITDA) on 25th of January 2019, in the bid to protect the personal data of […]

Your Rights As a Nigerian Electricity Consumer This week we will be examining the Meter Reading, Billing Cash Collections and Credit Management for Electricity Supplies Regulations, 2007. The following are the rights to note from this regulation: Right to transparent electricity billing: Every Distribution Company (Disco) shall obtain, through its authorized representatives, an actual reading […]