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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Violence Against Persons (Prohibition) Act, 2015

Justice, Nigeria

This is an Act prohibiting violence against a person in private and public life, to protect the person and the punishment of offenders as well other related matters.

Nigeria • 2015 • Justice

National Renewable Energy And Energy Efficiency Policy (NREEEP), 2015

Energy and Natural Resources, Nigeria

This Guide provides a simplified summary of the NREEEP primarily for off-grid renewable energy stakeholders. It provides context to the policy, objectives, targets, incentives, key provisions, key stakeholders, strategies, and related regulations and policies. It...

Nigeria • 2015 • Energy

Nigeria's Nationally Determined Contribution (NNDC), 2015

Energy and Natural Resources, Nigeria

This Guide provides a simplified summary of Nigeria’s NDC — primarily for off-grid renewable energy stakeholders. It provides a context to the NDC, key aspects, a summary of targets, mitigation and adaptation measures, key stakeholders,...

Nigeria • 2015 • Energy

Nigeria Civil Aviation Regulation: Part 2- Personnel Licensing

Ministry of Finance, Budget and National Planning, Nigeria

These regulations cover the licensing requirements for personnel such as pilots, flights instructors, flight engineers, flights dispatchers, aircraft engineers, air traffic controllers, and cabin crew members. The regulations also cover the medical assessment of pilots,...

Nigeria • 2015 • Finance

Code of Conduct for Rating Agencies

Ministry of Finance, Budget and National Planning, Nigeria

This document outlines the guidelines for rating agencies including quality of the rating process; procedures to avoid conflict of interest; responsibilities of the investing public; and disclosure of the code of conduct and communications with...

Nigeria • 2015 • Finance

Code of Conduct for Trustees (Securities and Exchange Commission)

Ministry of Finance, Budget and National Planning, Nigeria

This document highlights the code of conduct for trustees and fund managers to ensure adherence to the Investment and Securities Act and the Securities and Exchange Commission rules and regulations.

Nigeria • 2015 • Finance

Mandatory use of the National Identification Number Regulations, 2015

Ministry of Communications and Digital Economy, Nigeria

These regulations provide the regulatory and supervisory requirements for the mandatory use of the National Identification Number for certain transactions in Nigeria and other related matters.

Nigeria • 2015 • Democracy and Governance

Regulations for Demutualization of Securities Exchanges in Nigeria

Ministry of Finance, Budget and National Planning, Nigeria

The regulation of demutualization specifies the pre-condition for demutualization; post demutualization requirements; procedure for application; and the ownership of demutualized securities.

Nigeria • 2015 • Finance

Rules on Trading on Unlisted Securities

Ministry of Finance, Budget and National Planning, Nigeria

This document list the rules for trading unlisted securities for unlisted public companies.

Nigeria • 2015 • Finance

Rules on Securitization

Ministry of Finance, Budget and National Planning, Nigeria

These rules cover sales requirements, servicing agreements, liquidity facilitating agreements, reporting rating, special purpose investments and other related matters.

Nigeria • 2015 • Finance

Rules on Infrastructure Funds

Ministry of Finance, Budget and National Planning, Nigeria

These rules cover eligibility criteria for infrastructural funds; conditions for establishing infrastructural funds; issuance of units; permissible investments; valuation and declaration of assets; fees and expenses; disclosures; and the duties of fund managers as well...

Nigeria • 2015 • Finance

Royalty Rates for Minerals Produced in Nigeria

Ministry of Finance, Budget and National Planning, Nigeria

This document list the various rates for mineral produced in Nigeria by the Ministry of Mines and Steel Development.

Nigeria • 2015 • Finance

Policy and Procedures Manual: Directorate of Airworthiness Standards

Ministry of Transportation, Nigeria

This document outlines the key guidelines on airworthiness in Nigeria namely: registration of aircraft, approval of aircraft modification and repair, approval of aircraft maintenance organization, licensing of personnel, and safety analysis as well as other...

Nigeria • 2015 • Transportation

Appropriation Act, 2015

Ministry of Finance, Budget and National Planning, Nigeria

This is an Act authorizing the government expenditure across ministries, departments and agencies for the year 2015.

Nigeria • 2015 • Finance

Electoral (Amendment) Act, 2015

Electoral Commission, Nigeria

This Act amends the Electoral Act of 2010. The Act makes provision for issues regarding duplicate voters cards, voting procedures, tenure of office of secretary and other related matters.

Nigeria • 2015 • Democracy and Governance

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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