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 Institute Of Soil Science (Establishment, Etc.) Act 2017

Ministry of Agriculture ,Ministry of Rural Development, Nigeria

This act establishes the Nigeria institute of Soil Science charged with responsibility of regulating the profession of soil science. The part 1 of this document provides for the establishment and functions of the Nigeria institute...

Nigeria • 2017 • Agriculture and Rural Development

Secured Transactions in Movable Assets Act, 2017 Explanatory Memorandum

Ministry of Industry, Trade and Investment, Nigeria

This is an Act to provide for secured transactions, registration and regulation of security interests in movable assets; and for related matters. The objectives of the act are to enhance financial inclusion in Nigeria, stimulate...

Nigeria • 2017 • Trade, Industry and Investment

Federal Capital Territory 2017 Statutory Appropriation Act

Ministry of Finance, Budget and National Planning, Nigeria

This is an Act to authorize the issue of funds from the Federal Capital Territory Administrative Statutory account the total sum of N222,360,551,512 only, for the financial year commencing from 1st January and ending on...

Nigeria • 2017 • Finance

Anti-Torture Act, 2017

Ministry of Justice, Nigeria

This Act makes comprehensive provisions for penalizing the acts of torture and other cruel, human and degrading treatment or punishment, and prescribes penalties for the commission of such actions.

Nigeria • 2017 • Justice

Secured Transaction in Movable Assets Act, 2017 Explanatory Memorandum

Ministry of Finance, Budget and National Planning, Nigeria

This Act provides for secured transactions, registration and regulation of security interests in movable assets. Its objectives are to enhance financial inclusion in Nigeria, stimulate responsible lending to micro, small and medium enterprises, facilitate access...

Nigeria • 2017 • Finance

Credit Reporting Act, 2017 Explanatory Memorandum

Ministry of Finance, Budget and National Planning, Nigeria

This Act provides for the framework for credit reporting, licensing and regulation of credit bureaus. The objectives of this Act are to facilitate and promote access to credit and enhance risk management in a credit...

Nigeria • 2017 • Finance

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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