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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Banks And Other Financial Institutions Act 1991 (Amended)

Ministry of Finance, Budget and National Planning, Nigeria

This is an Act to regulate banking and other financial institutions and for matters connected therewith. It defines the powers, functions and duties of The Central Bank of Nigeria. Some of its functions include that...

Nigeria 2002 Finance

Monetary, Credit, Foreign Trade and Exchange Policy Guidelines for 2002/3

Central Bank of Nigeria, Nigeria

This policy document specifies the CBN’s monetary, credit, foreign trade and exchange policy guidelines for the fiscal year 2002/2003. The policies were designed to align with the Federal Government’s Medium-Term Expenditure Framework (MTEF).

Nigeria 2002 Finance

Nigeria Export Processing Zones Act (Subsidiary Legislation), 2001

Ministry of Trade, Industry and Investment, Nigeria

These are subsidiary legislation of the Nigeria Export Processing Zones Act including the Customs Tariff order, free zones order and other related subsidiary legislations.

Nigeria 2001 Trade, Industry and Investment

National Policy on Barytes Development

Ministry of Trade, Industry and Investment, Nigeria

Barytes is used in oil drilling by oil exploration companies. This policy was developed by the government to ensure orderly and economic exploration, processing, usage and export of barytes in Nigeria. The policy is divided...

Nigeria 2001 Trade, Industry and Investment

National Electric Power Policy

Ministry of Power, Works and Housing, Nigeria

The overall goal of the policy is to ensure an adequate supply of electricity to meet the need of Nigerians by modernizing and expanding the coverage of electricity supply. The policy was divided into short-term...

Nigeria 2001 Energy

National Energy Policy

Ministry of Energy and Natural Resources, Nigeria

The goal of this policy is to reduce the over-dependence on oil by diversification of the country’s energy sources, increased research and development and human resources in the energy sector. Other policy objectives include ensuring...

Nigeria 2001 Energy

National Policy on Information Technology

Ministry of Communication, Nigeria

The goal of this policy is to place Nigeria as a leader in the IT sector in Africa, by ensuring the adoption of IT in the education sector, creation of wealth, poverty reduction, job creation,...

Nigeria 2001 Information, Communication and Technology

National Policy on Biotechnology

Ministry of Science & Technology, Nigeria

The principal objective of this policy includes: to ensure Nigeria is self-reliant in the application of biotech; to ensure safe, ethical and profitable use of biotechnology in Nigeria; to support investment in biotech R&D to...

Nigeria 2001 Science and Technology

National Geoinformation Policy

Ministry of Science & Technology, Nigeria

This policy aims to ensure the optimal use of geospatial information for sustainable development, poverty reduction and improvement in the quality of life of Nigerians. The policy covers the maintenance of geospatial database; standardization of...

Nigeria 2001 Science and Technology

National Policy on HIV/AIDs

Ministry of Health, Nigeria

This policy was developed to limit the spread and impact of the HIV/AIDs epidemic in the country so that it is no longer a concern of public health and socioeconomic life. The policy has two...

Nigeria 2001 Health

National Policy on Population

Ministry of Budget and National Planning, Nigeria

The overall objective of this policy is sustainable development and improvement in the quality of life and the standard of living of Nigerians. Specifically, the policy aims to ensure sustained economic growth in tandem with...

Nigeria 2001 Economy

National Policy on Science and Technology

Ministry of Science & Technology, Nigeria

This policy aims to ensure science and technology are adopted for the national development and advancement of the Nigerian economy. The policy objectives include positioning science and technology in the socio-political system; development of scientific...

Nigeria 2001 Science and Technology

National Shipping Policy

Ministry of Transport, Nigeria

This is an Act of parliament for the establishment of the National Maritime Authority and the implementation of Nigeria’s shipping policies. The Act outlines the functions of the Authority and the various shipping regulations of...

Nigeria 2001 Transportation

National Policy on Solid Minerals

Ministry of Mines and Steel Development, Nigeria

This policy aims to ensure the orderly development of minerals resources of the country. The policy outlines regulations for the exploitation of mineral resources in Nigeria to ensure safe, orderly and economic exploitation of solid...

Nigeria 2001 Trade, Industry and Investment

National Telecommunications Policy

Ministry of Communication, Nigeria

The overarching goal of this policy is for the modernization and expansion of telecommunication networks and services across the country. The main short-term and medium-term goal of the policy was to achieve a tele density...

Nigeria 2001 Information, Communication and Technology

National Water and Sanitation Policy

Ministry of Health, Nigeria

The objective of the policy was to provide adequate, affordable and sustainable sanitation to all Nigerians through a collaborative effort of federal, state, and local government, private sector, communities, and individuals. The main strategy of...

Nigeria 2001 Health

National Workplace policy on HIV and AIDS

Ministry of Health, Nigeria

This policy provides guidelines to the government. Employers and employees to protect the right and dignity of workers infected and affected by HIV/AIDs; to protect workers from HIV/AIDs including mitigating the impact of HIV/AIDs in...

Nigeria 2001 Health

National Minimum Wage Act (Amendment), 2000

Ministry of Labour and Employment, Nigeria

This is an Act amending the National Minimum Wage Act for a revised National Minimum wage as well as other related matters.

Nigeria 2000 Labour

Corrupt Practices and Other Offences Related Act, 2000

Ministry of Trade, Industry and Investment, Nigeria

This Act outlines the government prohibition and prescribes the punishment for corrupt practices and related offences in Nigeria. The Act makes provision for the establishment of the Independent Corrupt Practices and Other Related Offences Commission...

Nigeria 2000 Trade, Industry and Investment

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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