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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Data Protection Bill, 2020

Ministry of Communications and Digital Economy, Nigeria

This is an Act for the establishment of the data protection commission with the responsibility of protecting the personal data and rights of individuals and for regulating the processing and use of personal data and...

Nigeria • 2020 • Information, Communication and Technology

Market-Based Pricing Regime for Premium Motor Spirit Regulations, 2020

Energy and Natural Resources, Nigeria

These regulations cover the removal of existing premium motor spirit price cap per litre; implementation of the market-based pricing regime for the premium motor spirit; and monitoring of market trends and advice on monthly market-based...

Nigeria • 2020 • Energy

Regulation for the Transfer of Retirement Savings Accounts (RSA)

Ministry of Finance, Budget and National Planning, Nigeria

This regulation follows the Pension Reform Act 2004 and seeks to ensure the seamless transfer of Retirement Savings Account from one pension fund administrator to another, the criteria for such transactions, and the penalties for...

Nigeria • 2020 • Finance

Petroleum Products Commercial Framework Regulations

Ministry of Petroleum Resources, Nigeria

The objectives of these regulations are to: ensure transparency, efficiency and accountability in the downstream sector; and to coordinate operational activities in the downstream sector.

Nigeria • 2020 • Energy

Nigerian Police Act, 2020

Ministry of Interior Affairs, Nigeria

This Act repeals the Police Act of 2004, and provide for a more accountable, transparent and responsible police force in the operations and management. The main objectives of this Act are to promote professionalism in...

Nigeria • 2020 • Defence and Security

National Action Plan on Gender and Climate Change for Nigeria 2020

Ministry of Environment, Nigeria

The overall goal of this action plan is to ensure that national climate change processes in Nigeria’s mainstream gender considerations guarantee inclusivity of all demographics in the formulation and implementation of climate change initiatives, programs...

Nigeria • 2020 • Gender and Human Rights

New Licence Categorisation for the Nigerian Payments System

Central Bank of Nigeria, Nigeria

This document shows the various license categorisations for operators in the Nigerian Payment System. The four broad categories are Switching and Processing (PSSP), Mobile Money Operations (MMOs, Payment Solution Services (PSSs), and Regulatory Sandbox.

Nigeria • 2020 • Finance

Receipt of Diaspora Remittances: Additional Operational Guidelines

Central Bank of Nigeria, Nigeria

This additional guideline mandates International Money Transfer Organizations operating in Nigeria to pay out remittances as received in foreign currency to beneficiaries to ensure transparency in remittance inflows.

Nigeria • 2020 • Finance

National Minimum Wage Act (Amendment), 2019

Ministry of Labour and Employment, Nigeria

This Act repeals the National Minimum Wage Act, 2004 and enacts the National Minimum Wage Act, 2019 to not less than 30,000 Naira per month per worker and penalties for non-compliance by employers.

Nigeria • 2019 • Labour

Fire Service Regulations, 2019

Ministry of Interior, Nigeria

The objectives of these Regulations are to prevent uncontrolled fires in our environment, especially our markets, public and private buildings and structures and reduce the incidence of loss of lives and property; enhance response capabilities...

Nigeria • 2019 • Home Affairs

National Fertilizer Quality (Control) Act, 2019

Ministry of Agriculture and Rural Development, Nigeria

This Act enacts the National Fertilizer Quality Control regulations to provide an improved regulatory framework for the manufacture, importation, sale and distribution of fertilizer in Nigeria and other related matters.

Nigeria • 2019 • Agriculture and Rural Development

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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