AYULI JEMIDE
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Lift of Suspension on Pioneer Status Incentives and Inclusion of 27 New Industries for Pioneer Status
On 7th August, 2017, the Federal Government of Nigeria announced the lifting of an administrative suspension on the processing of Pioneer Status Incentive (PSI) applications following a comprehensive review and reform of the process. The Government also released a...
Release of General Requirements and Guidance Information for the Establishment of Modular Refineries in Nigeria
The Department of Petroleum Resources (the DPR) recently released the General Requirements and Guidance Information for the Establishment of Modular Refineries in Nigeria (the Guidelines). The Guidelines was published to promote the establishment of third party...
Review of the Collateral Registry Act and Prospects for Credit Access Expansion in Nigeria
A. Background Out of the estimated 37 million micro, small, and medium-sized enterprises (MSMEs) in Nigeria, only 31% are able to access credit for their businesses from local financial institutions (commercial and micro finance banks). As at Q4 2015, loans to...
“Engineering Meets Finance” – DETAIL & ILF Business Consult Host Project Development Financing Seminar
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Review of the Petroleum Industry Governance Bill
A. Introduction For over five decades, the petroleum industry in Nigeria has remained the bedrock of the Nigerian economy (it accounts for 90% of foreign exchange earnings and about 80% of recurrent and capital expenditures). In spite of this, there have been calls...
Executive Order on the Voluntary Assets and Income Declaration Scheme
On the 29th of June 2017, the Acting President, Prof. Yemi Osinbajo launched the Voluntary Assets and Income Declaration Scheme (VAIDS) to address the issue of tax default in Nigeria. The Scheme which became effective on the 1st of July 2017 provides a 9-month...
Appraising the New Policy Directive on ‘Eligible Customers’ in the Nigerian Power Market
Introduction On 15th May, 2017, the Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola issued a policy directive to the Nigerian Electricity Regulatory Commission (NERC) declaring four categories of eligible customers in the Nigerian Electricity Supply...
Release of Mini-Grid Regulations by the Nigerian Electricity Regulatory Commission
On the 24th May, 2017, the Nigerian Electricity Regulatory Commission (NERC) released a new Mini Grid Regulation to govern the development of integrated electricity generation and distribution supply systems of under 1MW either in isolation from the Distribution...
Implications of the New Pioneer Status Incentives in Nigeria’s Technology Industry
A. Introduction The Nigerian technology industry has witnessed explosive growth at a geometric progression of 34% year-on-year in the last decade; becoming the fastest-growing and one of the largest contributors to the economy. Its contribution to GDP grew from...