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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Nigerian Electricity Smart Metering Regulation

Ministry of Energy and Natural Resources, Nigeria

This regulation sets out the minimum physical, functional, interface and data requirements for a smart metering system. This covers all classes and types of smart meters , communication systems, and other components of an advanced...

Nigeria • 2017 • Energy

Central Bank of Nigeria Loans & Access to Credit Facilities

Ministry of Finance, Budget and National Planning, Nigeria

Loans are an important source of financial relief for individuals and companies. They provide an alternative source of income that assists in meeting personal needs and achieving business expansion. This document educates financial consumers on...

Nigeria • 2017 • Finance

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 Memoradum

Ministry of Industry, Trade and Investment, Nigeria

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 responsible lending...

Nigeria • 2017 • Trade, Industry, and Investment

Federal Capital Territory 2017 Statutory Appropriation Act

Ministry of Finance, Budget and National Planning, Nigeria

This is a bill for an Act to authorize the issue from the Federal Capital Territory Administrative Statutory Fund of the Federal Capital Territory administration account, the total sum of N222,360,551,512 only, of which the...

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 acts. According to the document, torture is...

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 credit transaction,...

Nigeria • 2017 • Finance

North-East Development Commission (Establishment) Act, 2017 Explanatory Memorandum

Local Government and Community Affairs, Nigeria

This Act establishes the North-East Development Commission charged with the responsibility of, among other things, receiving and managing funds allocated by the Federal Government and international donors for the resettlement, rehabilitation, integration and reconstruction of...

Nigeria • 2017 • Democracy and Governance

National Intelligence Agency Pensions (Establishment) Act, 2017

Ministry of Finance, Budget and National Planning, Nigeria

This Act establishes the National Intelligence Agency Pensions Board charged with the responsibility for administering the pensions scheme for personnel of the agency. The Act is in consequence of the exit of the agency from...

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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