AN APPRAISAL OF THE LEGAL FRAMEWORK FOR THE PRIVATIZATION AND REFORM PROGRAMME FOR THE ENERGY SECTOR IN NIGERIA

Abstract:

This Research Study titled: “AN APPRAISAL OF THE LEGAL FRAMEWORK FOR THE PRIVATIZATION AND REFORM PROGRAMME FOR THE ENERGY SECTOR IN NIGERIA” was chosen after a careful review of the process and nature of the legal framework put in place in some relevant Nigeria legislations such as the Public Enterprises (Privatization and Commercialization Act) Laws of the Federation of Nigeria (LFN) 2004 (being the governing law on privatization of public enterprises) and the Electric Power Sector Reform Act No 6 2005, which provides the legal framework for the reform of the Energy Utilities in Nigeria. The Research Study explains the rationale for the implementation of the Privatization Programme in Nigeria, discusses the legal framework put in place for its implementation in order to guarantees investors’ confidence in the privatization programme and processes which should be open, transparent and sustainable as well as backed up by a strong will demonstrated by the Government at the centre. The Research Study provides an overview of the energy sector in Nigeria to include majorly, the electric power sector and the oil and gas industry and touches on the various policies and Legal Frameworks established for the privatization and reform of the Electricity Sector in Nigeria. In the same vein, the research study also highlight the key provisions of some relevant Laws that guide exploration and production of oil and gas in Nigeria over the past years such as the Petroleum Act, 2004 and the Deep Offshore, Inland Basin Production Sharing Contract Act 2004 (DOA), Petroleum (Drilling and Production) Regulations 1995 to name a few. The Research Study presents a critical appraisal of the various legal provisions that govern the regulatory institutions, evaluates the achievements or performance of the regulatory institutions (in relation to their regulatory mandates) set up to implement the Federal Government of Nigeria’s privatization programme for the electricity sector and reform of the sector, and suggest or recommend ways of improving on the effectiveness/efficiency of these institutions going forward. The Research Study stressed the critical relevance of the reform of the Energy Sector in Nigeria to the sustenance and ix growth of the national economy and therefore strongly recommend amongst others, the vigorous execution of the FGN’s reform programme for the energy sector and the strengthening of regulatory capacities of the agencies and institutions of Government that have been mandated to execute the said reform programmes. The Research Study noted that it was therefore imperative that scheduled timelines for specific privatization milestones are strictly adhered to and pursued with the seriousness it deserve and for the overall benefit of Nigerians. The Nigerian Energy Sector has suffered serious setback arising from poor infrastructure situation and improper handling and management of Energy Utilities hence the call for a reform of the sector, the objective of this thesis is to take an academic excursion into the nature of legal framework that exist and support the privatization and reform of the said Energy sector in Nigeria and make far reaching recommendations on how to strengthen the governing legal framework for the Energy sector in Nigeria which for purpose of this study is restricted to the Electricity Power Sector and to some extent, suggest or make recommendations on the proposed oil and gas sector reform in Nigeria. This research work was chosen with the aim of broadening knowledge and academic literature on privatization and reform of the Energy Sector in Nigeria generally and in particular, provide a medium for making specific academic contributions towards developing legal issues arising from the legal framework for the privatization and reform of the said Energy Sector Nigeria

ABSTRACT

Principles of taxation, especially international taxation, are one of the instruments through which Foreign Direct Investment, (FDI), is usually attracted to a country. These principles are invariably contained in bilateral or multilateral tax treaties signed between the host countries and the investor countries. The issue for consideration is whether tax treaties between Nigeria and other countries have achieved their desired objectives of attracting foreign direct investment and facilitating economic growth and development. Part of the research problems is how to establish a correlation or nexus between the principles of taxation and foreign direct investment into Nigeria. The aims and objectives of this research are therefore to discuss the impact of taxation on the Nigerian economy and to examine the relationship between the principles of international taxation and foreign direct investment. Consequently, both doctrinal and empirical methods of research are employed in this work. Some of the research findings are that tax treaties between Nigeria and other countries do not have adequate provisions to curb harmful practices like thin capitalization, treaty shopping and tax deferrals, among others. The research then makes recommendations on anti-thin capitalization rules, anti-deferral measures and anti-treaty shopping provisions in the tax treaties between Nigeria and other countries.

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INDIVIDUAL PROPERTY HOLDING: A COMPARATIVE STUDY BETWEEN CAMEROON AND NIGERIA.

ABSTRACT

Property is very important in our society today. Property is held by various groups and the individual is no exception. Generally, lawyers and economists are well acquainted with the prominent role of property not only in the economy of any given jurisdiction but also i t ‘ s Socio-political significance. Despite this awareness,, the activities of the informed groups of the Nigerian and Cameroonian communities do not reflect any serious concern for the prospects of individual property holding. Today, due to modern developments such as population increase, the desire for high living standards, education, introduction of cash economy, individual property holding has gained tremendous grounds. Even though individual property holding is a recent development, i t s evolution can however be traced. The purpose of this research work is therefore aimed at making a comparative study on the individual property holding between Cameroon and Nigeria, tracing i ts development from pre -Colonial era up to present day. i xii The, research will Commence with an examination of the historical background of property holding in both countries prior to the introduction of European statutory land tenure laws. Attempt will be made to define property, the determination of the scope and the method of approach to the research. Material was got by consulting books, newspapers, articles, journals, publications relevant to the field of study. Furthermore, information was got from the Bamenda High Court and Court of Appeal, and the Lands and Survey Office in Bamenda. Some general discussions on the subject were made with some family heads in Bafut. A sketch map has been drawn to locate the position of former West Cameroon, The research considers the classes of property holdings under customary law, like the communal, family and individual holdings. The research reveals that, individual property holding was rare in precolonial era, but it is now the rule and not the exception.. The recent development of individual property holding is due to Socio-economic development in our society. \ xiii The work also examines the present land tenure reforms in Cameroon and Nigeria in general and the individual tenure in particular. It further examines the techniques adopted in fitting the various categories of individual property in these countries into the framework of the present land legislation . The disposition of rights in individual propertywill be discussed. This will be done by examining the quantum of rights acquired by the individual, the restrictions imposed on such rights by the appropriate authorities and the transferability of these rights. Individual rights in property could be transferred in many ways, amongst which are gift, lease, mortgage, sale, bequeath. Finally, the last chapter will draw conclusions from the results arrived at in the preceeding chapters. The nature of the evolution of individual property holding will be considered and recommendations proposed.