Analysis and implications of Nigeria’s new Executive Order on Voluntary Declaration of Offshore Assets

The Federal Government of Nigeria (FGN), on 8 October 2018 (Effective Date), issued Executive Order 008 (Order), backing the implementation of the Voluntary Offshore Assets Regularisation Scheme (VOARS or the Scheme).

Vacancies in the Nigeria Power Sector Program

We are pleased to announce some vacancies under the Nigeria Power Sector Program, a power sector transformation programme led by Deloitte. The Nigeria Power Sector Program was established by a development agency to support reform within Nigeria’s power sector.

Gas Flaring Charge in Nigeria – Is FHC’s decision in Mobil v. FIRS good law?

Exploration and production (E&P) companies often encounter challenges with the Tax Authority on tax deductibility of gas flaring expenses incurred in the process of their oil and gas production activities.  

Nigeria’s Senate passes the Petroleum Industry Governance Bill

Nigeria’s Senate, during its plenary session on 25 May 2017, passed the Petroleum Industry Governance Bill (“PIGB” or “the Bill”) following the recommendation of the Joint Committee of the National Assembly on Petroleum (upstream, downstream and gas).

Ministry of Petroleum Resources Releases Draft National Petroleum Fiscal Policy

The Ministry of Petroleum Resources has released a draft fiscal policy for Nigeria’s petroleum industry. This is a fall out of the Ministry’s roadmap tagged “7 Big Wins” for the petroleum industry which was launched last year (Deloitte Tax Alert – FG launches new roadmap for Oil and Gas Sector).

Directors’ Alert 2017

IFRS 15 New Revenue Model: Spotlight on Power

The revenue and profit recognition profile of power companies may be significantly impacted by IFRS 15 as the new Standard is more detailed and more prescriptive than the existing guidance and introduces new complexities.

Directors’ Alert 2017

Directors’ Alert 2017 – Courage under fire: Embracing disruption

Disruption is a topic everyone is talking about. While many organizations fear it, others realize the many opportunities that disruptive technologies, processes, and social norms present. But with every opportunity comes an element of risk – not every disruption will positively impact your enterprise.

FIRS issues demand notices based on property valuation

In its drive to increase tax revenue generation, Federal Inland Revenue Service (FIRS) has started applying the value of property as a basis for assessing companies to income tax (CIT) rather than turnover basis of assessment. The FIRS recently issued notices to several companies demanding for payment of CIT assessed on this basis. The foregoing is a fall out of property valuation exercise carried out by FIRS in October, 2016.

Africa Construction Trends Report 2016

Africa’s changing infrastructure landscape This edition of Deloitte’s Africa Construction Trends Report cumulates and compares data from the last four years, delivering insights on both a continental and regional level. The latest edition includes a special feature on water projects in Africa. 

The key to successful delivery of Capital Projects in Africa

Delivering Capital Projects is a complex process that requires the effective integration of a number of variables. The successful delivery of such a project largely depends on frequent measurement of progress, evaluating plans and making adjustments where necessary.