Nigeria

Currency: Naira (NGN)

Timezone: West Africa Time (UTC+1)

Nigeria is situated in West Africa where it shares its land border in the west with the Republic of Benin, in the east with Chad and Cameroon, and in the north with Niger—popularly referred to as the “Giant of Africa” due to its resources and population. The country is the most populous in Africa, with a population estimated to be over 207 million. The country has a very diverse ethnic group with over 100 languages. However, the major languages spoken in the country are Yoruba, Hausa, and Igbo, with English regarded as the official language in the country. The climate of the country varies widely with equatorial south, tropical in the middle, and arid in the north, while the landscape consists of southern lowlands, plateaus, and hills in the north and mountains in the southeast.

The country adopts a federal presidential republic system of government comprising 36 states and Abuja the Federal Capital. The economy is heavily reliant on Petroleum and Petroleum Products as its main source of foreign exchange earnings and accounts for over 70 percent of government revenue. The challenges facing the country include erratic power supply, lack of infrastructure, terrorist insurgence, kidnapping, banditry, clashes between farmers and herders, pervasive corruption, internet fraud, and police brutality.

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Nigeria Vision 20:2020 Economic Transformation Blueprint

National Planning Commission, Nigeria

Vision 20:2020 is an articulation of the long-term intent to launch Nigeria on a path of sustained social and economic progress and accelerate the emergence of a truly prosperous and united Nigeria. Recognizing the enormous...

Nigeria • 2020 • Democracy and Governance

Nigeria Economic Sustainability Plan

Ministry of Finance, Budget and National Planning, Nigeria

The Economic Sustainability Plan is designed to mitigate the effects of a recession while ensuring social stability and addressing long-standing economic vulnerabilities as envisaged in the Economic Recovery and Growth Plan (ERGP).

Nigeria • 2020 • Economy

Companies and Allied Matters Act, 2020

Ministry of Justice, Nigeria

This Act repeals the Companies and Allied Matters Act, 1990, laws of the federation of Nigeria, 2004 and enacts the Companies and Allied Matters Act, 2020 to provide for the incorporation of companies, limited liability...

Nigeria • 2020 • Trade, Industry and Investment

Companies Income Tax (Significant Economic Presence) Order, 2020

Ministry of Industry, Trade and Investment, Nigeria

The Order defines the concept of “Significant Economic Presence” as it relates to the taxation of non-resident companies under the Companies Income Tax Act (CITA) as amended by the Finance Act, 2019.

Nigeria • 2020 • Trade, Industry and Investment

Nigeria Visa Policy 2020

Ministry of Interior Affairs, Nigeria

The policy is designed to meet the reality of the ever-changing socio-economic and politically globalized world. The document is a revised edition of the previous visa policy and part of a wider reform ‘NIS Border...

Nigeria • 2020 • Democracy and Governance

The Quarantine Act (COVID-19 Regulations, 2020)

Ministry of Health, Nigeria

This regulatory document declared COVID-19 a dangerous infectious disease and set quarantine rules for the restriction of movement in Lagos, FCT and Ogun State. It emphasizes that all seaports in Lagos should remain operational and...

Nigeria • 2020 • Health

Self-Isolation Guidance for Nigerians

Ministry of Health, Nigeria

This document defines self-isolation as staying at home or in an identified accommodation, away from situations where you mix with family members or the general public, for the period of 14 days. This means any...

Nigeria • 2020 • Health

Emergency Economic Stimulus Bill, 2020.

Ministry of Interior Affairs, Nigeria

This bill covers regulations on corporate tax liability, suspension of import duty on selected goods and deferral of residential mortgage obligations in response to the economic downturn occasioned by the outbreak of COVID-19 disease and...

Nigeria • 2020 • Economy

Interim Guidelines for Home Care of Confirmed COVID-19 Cases

Ministry of Health, Nigeria

This document is designed to guide provision of home care for persons with confirmed COVID-19 infection who are asymptomatic or who have mild symptoms. It emphasizes that home care should also be considered when in-patient...

Nigeria • 2020 • Health

June 9, 2022

Political Parties, Presidential Candidates and the Electoral Act 2022 

The Electoral Act 2022 seeks to update and standardize Nigeria’s elections. The introduction of technological changes such as an electronic database of registered voters and an electronic transmission system of votes is a welcome improvement. Restricting political appointees' involvement in the election process is also a step in the right direction. However, there is a fundamental issue with the new act — its endorsement of the indirect primary process.

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