The call for the institutional and legal restructuring for the next Nigeria cannot have come at a better time. President Mohammadu Buhari’s 2019 Independence Day address to the nation may have created an enabling platform to encourage new discussions on how to transform Nigeria’s economy. The President’ssetting up of an Economic Advisory Council (EAC) is…
An underrated form of alternative business financing option for founders and co-founders to consider is through organic growth. Business owners are expected to learn the first rule of business which is “do not run out of money”, the second rule of business is to have proper systems and procedures in place and whatever happens don’t…
The need to broaden the framework for space law in Nigeria continues to grow in the light of increasing space activities in the world. It is important that Nigeria invests financial and human resources in the legal, regulatory and institutional framework relating to space in order to position the country to enjoy benefits of space…
Development law policy is a tool that intersects law and economic development. Development law scholars agree that there is a strong link between law, regulatory institutions, governance, economic development and national welfare. It is argued that the Nigerian legal and judicial framework is hopelessly outdated and needs an urgent review to meet current challenges. Yet…
There has been debate in some legal circles as to whether a lawyer or firm of lawyers are duty-bound to pay Value Added Tax (VAT) to the Federal Inland Revenue Service (FIRS) as stipulated by sections 14(1) and 15(1) of the VAT Act, 1993 (as amended) (“the VAT Act”), for legal services they provide their…
Bilateral Investment Treaties (BITs) represent the means by which commercial interest between States and foreign investors are regulated and determined under international law. BITs can be subsumed under the category of treaties as identified under Article 2 (1) (a) of the Vienna Convention on the Law of Treaties (VCLT), considering that they are international agreements,…
The need for a National Arbitration Policy comes on the back of the recent enforcement order relating to the sum of US$9, 000, 000, 000 (Nine Billion US Dollars) made against Nigeria by an English High Court, which was based upon an arbitration award secured by a company, Process and Industrial Developments Limited (P&ID), has…
The African Continental Free Trade Agreement was signed by President Muhammadu Buhari at the African Union Summit on Sunday, July 7, 2019. At the summit, member countries agreed to launch the “operational phase” of the African Continental Free Trade Area (AfCFTA), and decided on common “rules of origin, the monitoring and elimination of non-tariff barriers…
The Court of Appeal in the recent Judgment of Transocean Support Services Nigeria Limited & 3 Ors v Nigerian Maritime Administration and Safety Agency & 1 Or: Appeal No:CA/L/ 503/2016, held that drilling rigs cannot be deemed to be vessels for the purpose of the Coastal and Inland Shipping (Cabotage) Act, 2003 and liable to…
Our firm Olisa Agbakoba Legal (OAL) and BusinessDay Newspapers co-presented the LEGAL POLICY DIALOGUE in 2014. The forum was a strategic partnership that highlighted the impact of the law on economic development and investment by the two sector leaders in law and business reporting. Waking Up Dead Capital in Nigeria: The Business Case At the…
