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PPPs in Nigeria: A Legal Perspective

PPPs in Nigeria: A Legal Perspective. ICRC London Briefing: PPP Opportunities in Nigeria. 24, June 2010 Ayuli Jemide, Lead Partner. 1. Outline. 5 questions an investor or financier would ask. 1. Legal Framework. G OVERNMENT ?. Federal * State * Local. POWER ?.

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PPPs in Nigeria: A Legal Perspective

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  1. PPPs in Nigeria: A Legal Perspective • ICRC London Briefing: • PPP Opportunities in Nigeria 24, June 2010 Ayuli Jemide, Lead Partner 1

  2. Outline 5 questions an investor or financier would ask.

  3. 1. Legal Framework GOVERNMENT? Federal * State * Local POWER ? ICRC Act empowers MDA’S to contract PROCEDURE ? Regulators/Regulations; Licences; Approvals … ANCILLARY Land; IP; Tax; SPV; …

  4. 2. Procurement Process • Federal Procurement Act 2007 • Bureau of Public Procurement • Bode George’s case

  5. 3. SPV Structure • 100% foreign ownership permitted • Must be a Nigerian registered company

  6. 4. Risk Mitigation Government Guarantees Political Risk Insurance

  7. 4. Risk Mitigation Dispute Resolution Foreign Exchange Risk Stakeholder Management

  8. 5. Repatriation of Profits 100% repatriation subject to: Capital Importation Certification National Office of Technology Taxation as applicable

  9. Expectations ICRC regulations bring clarity More State PPP laws & regulations Credible Procurement process Pioneer deals will smooth edges Bond Financing for infrastructure

  10. Thank you for listening!

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