Teniola Akeju

Overview of Deep Offshore and Inland Basin Production Sharing Contract (PSC) Amendment Act 2019

The President of the Federal Republic of Nigeria recently assented to the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Amendment Bill (“the Amendment Act”). The Amendment Act aims to significantly increase the revenue earnings derived by Nigeria from its offshore oil wells.

Reforming the Nigerian Sports Industry

Reforming the Nigerian Sports Industry – Incentives for Sports Investment in Nigeria

Introduction

In 2018, the global sports market reached a value of US$489 billion, growing at an annual rate of more than four percent (4%) since 2014, and is expected to grow at an annual rate of about six percent (6%) to almost US$614 billion by 2022. Investors, private and public, across the globe are actively seeking opportunities to participate in and reap the rewards of the expanding sports industry.

UNDERTAKING TO PAY DAMAGES IN AN APPLICATION FOR INJUNCTION; ESSENCE AND CONSEQUENCES

...An applicant for an injunction must not only show a willingness to give an undertaking in damages; he should also be able to depose to an affidavit to indicate (a) that he is prepared to give an undertaking in damages; and (b) the means at his disposal, or who would guarantee him to be able to meet such an undertaking.