Section 38 of the Companies and Allied Matters Act, 2004 of the Federal Republic of Nigeria states unequivocally that every company shall, for the furtherance of its authorized business or objects, have all the power of a natural person of full capacity. One of the powers of a natural person is the power to have intellectual property rights over his works to the exclusion of any other persons. Therefore, since a company is a juristic personality in the eyes of the law, it stands to reason that such a corporate entity can also acquire intellectual property rights to the exclusion of any other corporate entity or natural persons. A corporate entity as an artificial person has the right to intellectual property. It also has the right to ensure that its property rights in copyrights, patents, trademarks, and designs are not infringed upon by unauthorized persons.

WHAT IS AN INTELLECTUAL PROPERTY RIGHT?

These are rights given to a person over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period. According to the World Intellectual Property Organization (WIPO), intellectual property refers to creations of the mind: inventions, literary and artistic works; and symbols, names, and images used in commerce. Property rights allow creators, or owners, of patents, trademarks, or copyrighted works to benefit from their work or investment in a creation. Intellectual property rights reward creativity and human endeavor which enhances the progress of the human race. These are negative rights that are aimed at preventing persons from the exploitation of the works of others. The rationale is that the hard work, labor, dexterity, ingenuity, and talent of a person are not unlawfully and illegally exploited by lazy, mischievous, and fraudulent persons.

Article 27 of the Universal Declaration of Human Rights provides for the right to benefit from the protection of moral and material interests resulting from authorship of scientific, literary, or artistic productions.

PROCEDURES FOR ACQUIRING DIFFERENT INTELLECTUAL PROPERTY RIGHTS OF A COMPANY

A company can purchase intellectual property rights. The way that the purchase takes place varies a little but most commonly it will be in the form of a license. A company can also acquire an intellectual property right through the assignment of these rights to the company from the original owner of the right. Employees of a company could discover new ways of doing things and the company has the intellectual property right over the discoveries of its employees. A company has a patent right granted to it for a product or a process that provides a new way of doing something or offers a new technical solution to a problem. This patent right is granted to a company to the exclusion of any other company and these are intellectual property rights of a company.

When a company acquires intellectual property through its employee, the company is advised to do the following to have complete legal rights over the intellectual property acquired:

1. The company has to determine if it has a written agreement with its employees and independent contractors. If so, does it include an “assignment of inventions” or “ownership of discoveries” provision? Does that provision clearly state the employee “hereby assigns” all rights and ownership in the intellectual property, trademarks, and/or copyrights?

• Make sure the written agreement is supported by sufficient consideration. Was the agreement executed prior to the commencement of employment or later? If later, what additional consideration did the company provide to the employee in exchange for his or her execution of the agreement?

• The company must Have its prospective employees and/or independent contractors identify, in writing, any intellectual property they may own prior to commencing the employment or contractual relationship.

• Periodically have employees update and identify, in writing, any intellectual property that they believe they own and make sure such intellectual property was created independent of the company’s resources and the employees’ duties.

• Conduct exit interviews with employees and independent contractors, reminding them of their contractual obligations.

Another property right of a corporate personality is Utility Models. These are inventions protected by utility models which are also known as ‘’ petty patents’’ or ‘’ utility innovation’’ A company can also acquire property rights through its Trade/Service Marks. These are distinctive signs that identify certain ‘’ products or services’’ of a company as those produced or provided by a specific company allowing the consumer to distinguish them from goods or services of others.

A cooperate entity has a copyright over its works. This is made possible if a company is involved in the creation, recording, publication, dissemination, distribution, or retailing of artistic, musical, or literary works. This is also possible if a company has a website, a brochure, a corporate video, or does its advertisement on newspaper or TV. An intellectual property right of a company could also arise as a result of the use of music, pictures, or software products owned by others in any of its publications, brochures, databases, or websites. The company must register its intellectual property rights in the aforementioned works with the relevant authorities created by statutes in the jurisdiction of operation.

Well-known marks of a company could also form part of its intellectual property. These marks are usually protected, irrespective of whether they are registered or not in respect of goods and services which are identical with, or similar to those for which it has gained their reputation. Put differently, specific companies are identified by consumers with certain marks associated with the company to the exclusion of other corporate organizations. These marks form part and parcel of the company’s intellectual property.

Trademarks (‘’TM’’) of a company form part of its intellectual property. A company’s TM is a mark used or proposed to be used concerning its goods to indicate a connection in the course of the trade between its goods and some persons having the right either as proprietors or as registered users to use the mark. This mark may include a devise, brand, heading, label, ticket, name, signature, word letter, numeral, or a combination of these marks. The Nigerian Trademark Act Cap T13 LFN 2004 regulates trademark registration and practice in Nigeria. 

To be able to protect its marks, the company must register its marks with the Trademark Registry. The law requires that a register of TM be kept by the registrar of TM. The register shall contain all registered TMs with the names, addresses, and other details of their proprietors.

The company shall upon registration be entitled to exclusive control over the use of the TM about the goods and services under which it is registered. On the other hand, an unregistered TM will prevent the TM proprietor from instituting any proceeding to prevent or to receive damages for infringement of his trademark under the Trade Marks Act. However, this does not affect his right to bring an action in passing of goods at common law. 

The company’s TM (whether registered or not) is assignable and transmissible concerning either all or some of those goods in respect of which it is registered, or in connection with the goodwill of a business. However, concerning a registered TM, the record of such TM and assignment made in respect of it shall be registered in the Register of Trade Mark and shall be made available for the inspection of the public. In the same vein, a person other than the Proprietor of a TM may be registered as a registered user of the trademark with all or any other goods in respect of which it is registered.

The industrial designs of a company form part of its intellectual property rights. These rights protect the ornamental or aesthetic aspect of a useful article which usually appeals to the sense of sight or touch and can be reproduced in significant quantities. Protection of this right can only be acquired through registration.

A manufacturing company like Toyota has patent rights over its cars all over the world. A patent is described simply as a monopoly in respect of an invention. The Patent Act 1970 (now designated Cap P2, LFN 2004) governs/regulates the registration and practice of patents in Nigeria. For a corporate personality to be qualified for the patent, its invention must comply with the following requirements:

1. It must be a new or novel invention or an improvement upon a patented invention; which
2.  result from an inventive activity; and
3. It is capable of industrial applications.

An invention is new or novel if it does not form part of the state of the art. The statute of the art means everything concerning that art or field of knowledge that has been made available to the public anywhere or anytime. A patent cannot, however, be obtained in respect of a plant or animal or any biological process for the production of plants or animals. Neither will patents be granted in respect of inventions whose exploitation would be contrary to public order or morality, for example, cloning.

The right to patent is vested in the person who is the first to file whether or not he is the true inventor. Where the invention is made in the course of employment or the execution of a Contract for the performance of a specific work, the right of a patent in the invention shall be vested in the employer. The employee may however be entitled to fair remuneration if his contract does not require him to make such invention or if the invention is of exceptional importance.

The company’s right in a patent subsists for 20 years from the date of filing of the relevant patent application and it is not renewable. Patent shall lapse if the prescribed annual fees are not duly paid upon the expiry of the period of grace. Similarly, a patentee may by a written declaration addressed to the Registrar of Patent, surrender his patent. The surrender shall take effect upon registration. The company’s patent on an invention is nullified where the description of the invention or claim does not conform to the provision of the law or if it is defeated by a prior application from an earlier foreign priority.

The industrial design of a company falls within its intellectual property. An industrial design, according to the Patent and Designs Act, is any combination of lines, colours, or both; any three-dimensional form (whether or not associated with colours) intended by the creator to be used as a model or pattern to be multiplied by an industrial process. A company can register its designs as industrial designs if they are new and not contrary to public order or morality. A design made available to the public anywhere and at any time before the date of registration is not new. However, an industrial design will not be deemed available to the public solely because the creator has exhibited it in an official or officially recognised place within six months preceding the filing of the application for registration.

The company’s intellectual property right is said to have been infringed uponif anybody who without the license or authorization of the company does an act which violates the copyright of the company, such a person is said to have infringed on the company’s copyright it has on its works. Similarly, a company’s Trade Mark would be deemed to have been infringed upon under the Nigerian Trade Marks Act if any person not being the proprietor, assignee or registered user of the TM uses a mark identical with or so nearly resembling the company’s mark and it is likely to deceive or cause confusion in the course of trade, concerning goods in respect of which it is registered.

Where a person other than the company/ patentee or the Industrial Design owner or any of their respective assignees or privies does or causes any act to be done about the use of a Patent or Design, it shall amount to an infringement of such patent or Industrial Design as the case may be.

Upon the occurrence of any of the infringements mentioned above, a suit may be filed when its copyright, trade mark, or industrial design has been infringed upon. It may be entitled to reliefs by way of damages, injunction (including an Anton Piller order), rendering of account, and such other relevant reliefs as the court may deem necessary in the circumstances.

CONCLUSION   

This article has been able to reveal that a corporate entity under the law is a juristic personality capable of acquiring intellectual property like the natural person. The ways it could acquire these rights have been highlighted above. Therefore, in terms of intellectual property rights acquisition, there is no difference between a corporate personality and a natural person.    

Daniel Anumiten
Senior Associate and Team Lead: Litigation
Stillwaters Law Firm
June 2021

INTRODUCTION

What are Trade Secrets?

Trade secrets refer to confidential and valuable business information that gives a company a competitive advantage. Unlike patents, trademarks, or copyrights, which are protected through registration with government agencies, trade secrets are kept confidential and rely on the company’s efforts to maintain their secrecy.

The most common types of trade secrets include:

1. Formulas and Recipe

Proprietary formulas and recipes are used in the manufacturing of products such as food and beverages, cosmetics, and chemical compounds.

2. Customer Lists

Confidential lists of customers or clients, along with their contact information, buying habits, and preferences.

3. Manufacturing Processes

Confidential methods and techniques used to produce products efficiently and with high quality.

4. Business Strategies

Non-public strategies, plans, and business models that provide a competitive edge in the market.

5. Software Algorithms:

Proprietary algorithms and source code used in software applications and systems.

6. Marketing Strategies

Non-public marketing plans, market research data, and advertising strategies that contribute to the company’s success.

7. Financial Data

Non-public financial information, profit margins, cost structures, and pricing strategies.

Following recent happenings, Twitter allegedly accused Meta of stealing its trade secrets to build its new platform “Threads”, which is a potential competition to twitter. Although yet to be confirmed, Meta responds by confirming that none of the engineers who were once employees in Twitter were not involved in the construction of the platform.

Trade secrets are valuable because they provide businesses with an advantage over competitors who are not aware of or cannot replicate the confidential information. Hence, to maintain trade secret protection, companies and businesses must take reasonable steps to keep the information confidential. These steps may include:

1. Internal Policies

Implementing clear policies and procedures that emphasize the importance of confidentiality among employees and contractors

2. Employee Training

Providing training to employees on the handling and protection of trade secrets

3. Physical Security

Restricting access to sensitive information through secure facilities, passwords, or access controls.

4. Confidentiality Agreements

Requiring employees, contractors, and business partners to sign non-disclosure agreements (NDAs) to protect trade secrets

5. Restricted Access

Limiting access to trade secret information on a need-to-know basis

6. Contractual Obligations

Including confidentiality clauses in contracts with employees, contractors, and business partners.

LEGAL IMPLICATIONS OF TRADE SECRETS THEFT

According to Polk Wagner, a law professor at the University of Pennsylvania, to succeed in a lawsuit, a company must demonstrate that its competitor acquired economically valuable information that the company had taken “reasonable efforts” to safeguard as a secret. However, determining what qualifies as a “reasonable effort” can be a complex matter, he added.

“The courts are pretty clear that you can’t just wave your hands and say something is a trade secret. On the other hand, you don’t have to lock everything down so much that nobody can use the information,” Wagner said. (Source: livemint.com)

Employee Mobility Management

Employee mobility in the context of trade secrets raises several legal and ethical considerations for both employers and employees. As employees move between companies, there is a risk of trade secret misappropriation, which refers to the unauthorized acquisition, use, or disclosure of a company’s valuable confidential information. Here’s a closer look at the key aspects of this issue:

1. Trade Secret Protection Measures

Employers must take proactive steps to safeguard their trade secrets. This includes implementing physical security measures, restricting access to sensitive information on a need-to-know basis, and requiring employees to sign non-disclosure agreements (NDAs) to maintain confidentiality. Regular training and awareness programs on trade secret protection are also essential.

2. Non-Compete and Non-Disclosure Agreements

Many companies use non-compete and non-disclosure agreements as part of their employment contracts. Non-compete agreements aim to restrict employees from joining or starting a competing business for a certain period after leaving the company. Non-disclosure agreements, on the other hand, prevent employees from sharing or using confidential information outside of their employment. The enforceability of such agreements varies depending on jurisdiction, and some regions may limit their scope or duration to strike a balance between protecting legitimate business interests and enabling employee mobility

3. Trade Secret Misappropriation Litigation

When a former employee is suspected of taking trade secrets to a new employer, the affected company may pursue legal action through trade secret misappropriation litigation. However, proving trade secret misappropriation can be challenging, as it requires demonstrating that the information in question qualifies as a trade secret, that it was kept confidential, and that the former employee improperly acquired, used, or disclosed it.

4. Ethical Considerations

From an ethical standpoint, employees have a responsibility to respect the confidentiality of their former employer’s trade secrets. Using or disclosing trade secrets to benefit a new employer can lead to legal consequences and damage the employee’s professional reputation. Employees need to to uphold ethical standards and avoid engaging in any activities that could be deemed unfair competition or trade secret theft.

5. Employee Mobility and Innovation

Balancing trade secret protection with employee mobility is critical for fostering innovation. On one hand, overly restrictive measures can stifle the flow of knowledge and expertise between companies, potentially hindering progress in the industry. On the other hand, weak protection measures can lead to loss of competitive advantage and hinder companies’ willingness to invest in research and development.

6. Trade Secret Management Policies

Employers should have clear trade secret management policies that are communicated to employees, including guidance on what constitutes a trade secret and the appropriate measures for protecting it. Having well-defined policies can help prevent unintentional trade secret disclosures and provide a basis for legal action if needed.

LEGAL IMPLICATIONS

Trade secrets theft can have significant legal implications for both the party that has had its trade secrets stolen (the victim) and the party accused of the theft (the alleged misappropriator). The legal consequences may vary depending on the jurisdiction and specific circumstances of the case, but some common legal implications include:

1. Civil Lawsuits

The victim of trade secrets theft can file a civil lawsuit against the alleged misappropriator seeking damages and injunctive relief. Damages may include compensation for economic losses suffered due to the theft, while injunctive relief aims to prevent further use or disclosure of the trade secrets.

2. Injunctive Relief

Courts may issue preliminary or permanent injunctions to stop the alleged misappropriator from using or disclosing the stolen trade secrets. These injunctions can be critical in preventing further harm and preserving the confidential information.

3. Restitution and Disgorgement

In some cases, the court may order the alleged misappropriator to return any profits or benefits gained from the stolen trade secrets, ensuring that they do not profit from their some jurisdictions

4. Criminal Charges

In some jurisdictions, trade secret theft may be considered a criminal offence. The theft of trade secrets can lead to criminal charges, which may result in fines and potential imprisonment for the convicted individual.

5. Proceeding Secret Litigation Costs

Legal proceedings can be expensive, and both parties may incur significant legal costs, including attorney fees and court expenses reputation in the litigation process.

6. Reputation Damage

Allegations of trade secrets theft can damage the reputation of the accused individual or company, leading to negative publicity and potential harm to business relationships.

7. Non-Compete and Non-Disclosure Agreement Enforcement

If the accused party had signed non-compete or non-disclosure agreements with the victim, the enforcement of these agreements may become a part of the legal proceedings.

8. Trade Secret Registration and Protection Loss:

If the victim fails to take reasonable steps to protect the trade secrets, such as not implementing adequate security measures or not requiring confidentiality agreements, the court may deny trade secret protection or reduce the damages awarded.

CONCLUSION

It is important to note that trade secret litigation can be complex, as it often involves proving the existence and value of the trade secrets, as well as demonstrating that the alleged misappropriator acquired the trade secrets through improper means or disclosed them without authorization.

To protect against trade secrets theft and to enhance the chances of successful litigation, companies and businesses should implement robust trade secret protection measures, including the use of confidentiality agreements, restricting access to sensitive information, and providing proper employee training on trade secret protection.

Ayomide Shola-Oni
Head of Patents & Designs
Stillwaters Law Firm
2023

There has been an explosion of technologies that are transforming how we work and live in an increasingly interconnected digital world. The emergence of frontier technologies is at the heart of what is sometimes termed the Fourth Industrial Revolution; hence, there is a need for the IP system to continue to promote innovation in the age of frontier technologies.

In today’s global innovation economy, the demand for various IPR related matters like trademarks, patents, copyrights, industrial designs, domain names to mention a few is increasing at a high pace and becoming more complex. Artificial Intelligence (AI) one of the frontier technologies has emerged as a general-purpose technology with widespread applications throughout the economy and society.

The benefits of AI technology are varied and could truly have the potential to revolutionise many aspects of life, including the world of IP, but its introduction also poses several challenges within the IP industry that need to be addressed not just now but in the near future.

This article seeks to explore some of the challenges of one of the frontier technologies, artificial intelligence (AI), on intellectual property.

ARTIFICIAL INTELLIGENCE

AI is generally considered to be a discipline of computer science that is aimed at developing machines and systems that can carry out tasks considered to require human intelligence. It could also be defined as the ability of a computer-controlled products to perform tasks that only intelligent beings are able to do.

Intellectual property systems have been designed to incentivize human innovation and creation. Until very recently such innovation and creation were one of the defining characteristics of the human species.

CHALLENGES

1. Ownership of Intellectual Property: There is no doubt that AI machines have the ability to create subject matter which can be protected by IP. As the ownership of a trademark is not linked to the person who devised the mark, it is unlikely to have any implications on trademark ownership if an AI machine creates your trademark, but for other forms of IP, the ownership of AI created matter is a hot topic.

The first owner of a piece of work protected by copyright is generally the author or the person who created it. In all these cases, ownership is directly linked to the creation of the subject matter. If it is therefore accepted that AI machines can create the subject matter, does this make the AI machine the first owner of the IP? Allowing AI to own IP has consequences in the field of IP enforcement.

• Infringement of Intellectual Property: If it is accepted that an AI machine can generate subject matter, who will be held responsible if that subject matter infringes third party IP? This challenge is however relevant especially in the context of an infringement of copyright which involves actual copying from the copyrighted source, that is, the author of a work which infringed the copyright of a third party must have had access to that copyrighted work. Again, the concept of AI creating subject matter raises a number of complex legal queries, does an AI machine have sufficient legal personality to be sued for infringement? If not, who is responsible for the infringement of copyright by an AI machine and is it just to hold an individual to account for the actions of the AI machine and would thin individual meet the criteria of having copied the work?

• Liability challenges: Since AI machines can create subject matter, it is worth considering that in some situations they can also be held liable. Artificial intelligence could be subjected to allegations of violation of copyright, trade secrets, or even data privacy if it analyses the investment plans of a business or personalizes big data for a marketing advertisement by auto-copying details from different sources.

• Role of a new consumer and skilled person challenge: With the emergence of technologies such as Amazon Dash buttons and home appliances that can re-order staple groceries when you run out, it is conceivable to see a world where an AI machine will order your shopping for you. We must therefore ask ourselves what impact this will have on the average consumer for the purpose of trademark law. Is it possible for an AI machine to be confused and order the wrong product? Could an AI machine raise the level of attention paid by the relevant consumer if it ever becomes commonplace that certain goods are ordered by AI and not selected by humans?

There is also a question in patent law on whether the concept of a skilled person will change as a result of the surge in AI technologies. The skilled person is a notional person who appears in the EPO and UK legal provisions, including when considering inventive steps. The skilled person is considered to know concepts and terminology in the field of the application and will have means for routine work and experimentation. Should the notionally skilled person be assumed to have access to commonly used AI tools? If this is the case, does it make it easier to find a lack of inventive steps for AI-related inventions, or perhaps all inventions? If new legislation is introduced that allows patents for inventions made solely by an AI system, could the skilled person then also be an AI system?

CONCLUSION

There have been a lot of ongoing debates at the World Intellectual Property Organisation (WIPO) with respect to the several questions and challenges that this topic- AI generates. However, despite the controversies and challenges, there is a need to generate a practical and appropriate way to deal with the current situation.

In the near future, artificial intelligence will have a dramatic effect on what it means to be human and even perform what normal humans cannot. There must be a proper balance between the utilization and commercialization of the innovation created by artificial intelligence so it can provide reasonable benefits to the machine and must provide benefits to the public at large, or we can say that it must be of public interest.

Frontier technologies provide opportunities for economic growth. To harness these opportunities for all, we need to ensure that the intellectual property (IP) system continues to foster innovation and creation and that the systems for IP administration evolve. Examples of frontier technologies include digital technologies such as the Internet of Things (IoT), blockchain, artificial intelligence (AI), big data, and cloud computing; physical technologies such as autonomous driving, 3D printing, and hardware innovations; and biological technologies such as genetic engineering, human augmentation, and the brain-computer interface.

https://www.aathornton.com/the-challenges-of-artificial-intelligence-in-ip/

https://www.aathornton.com/the-challenges-of-artificial-intelligence-in-ip/

https://blog.ipleaders.in/intellectual-property-ai-issues-challenges/

Deborah F. Toluwalase  
Associate
Stillwaters Law Firm

The Committee’s terms of reference include amongst others, liaising with the office of the Attorney General of the Federation to push through the amended Copyright Bill at the National Assembly.

We are looking forward to the amended Copyright Act.

The objectives of the Scheme include to encourage full tax compliance, discharge of outstanding tax liabilities as well prevent tax evasion. While it increases government revenue, the Tax Payer also benefits from it vide workable tax payment plans, and immunity from prosecution for tax offences and tax audit.

A VAID application is valid where the disclosure is voluntary and substantially verifiable, and the payable tax is assessed by the relevant tax authority. The Scheme is to be implemented across the Federation and is applicable to all taxable persons & entities.

However, on June 30, 2017 the Supreme Court (SC) held otherwise, in the case of Sky Bank Nigeria Plc. VS Anaemem Iwu. A 5-man panel of the SC held that the jurisdiction of the Court of Appeal covers all appeals from the National Industrial Court and that jurisdiction is not limited to criminal matters or issues of fundamental human right.

The SC explained that no provision of any legislation expressly divests the Appeal Court of their appellate powers over any decision of the National Industrial Court.

Accordingly, all decisions of the National Industrial Court can now be appealed against at the Court of Appeal.

There is currently a bill titled “A Bill for an Act to repeal the Legal Practitioners Act Cap C11 LFN 2004 and all amendments thereto; Legal Education (Consolidation etc.,) Act Cap. L10 LFN 2004 and enact the Legal Profession Regulation Act which shall regulate the legal profession” (the Bill) seeking to repeal the Legal Practitioners Act.

The Bill seeks to merge the Legal Practitioners Act and the Legal Education (Consolidation) Act Cap. L10 LFN 2004 into one Act titled “the Legal Profession Regulation Act”.

The Bill also seeks to establish a ‘Legal Profession Regulation Council of Nigeria’ (the Council), a Secretariat for the Council as well as various other committees such as; body of benchers, legal services, young lawyers and career committee, the remuneration and welfare committee, ethics and standards committee to mention but a few.
The Council would be responsible for the general regulation of the legal profession in Nigeria.

The Bill also touches on matters of remuneration and taxation of legal practitioners and such other ancillary matters.

The Secured Transactions in Movable Assets Act (2017) substantially provides for the registration of movable assets such as motor vehicles inventory, livestock, crops equipment, vehicles and accounts receivables as collateral for obtaining credit facilities from financial institutions. These immovable assets are to be registered at National Collateral Registry (The Registry) which shall be under the Central Bank of Nigeria and shall be responsible for the registration of immovable assets to be used as collateral for loan facilities.

The Credit Reporting Act essentially established the Credit Bureau. The Credit Bureau is vested with the responsibility of receiving relevant information from ‘credit information providers’ in relation to intending borrowers such as their credit worthiness, financial obligations and details of the assets intended to be used as collateral and transmitting same to the ‘credit information users’.

The Report: Nigeria 2017 will shine a spotlight on the country’s long-term strategy for boosting oil output, which will be steered by a major overhaul of the regulatory framework governing the sector.

The government’s efforts to attract investment for areas of the economy deemed ripe for growth, such as agriculture, ICT and insurance, will also be explored. In addition, OBG’s publication will analyse the steps taken to address the challenges that have weighed on Nigeria’s economy, which range from lower global oil prices and declines in foreign exchange to security concerns.

Stillwaters Law Firm has signed a first-time memorandum of understanding (MoU) with OBG for its forthcoming publication. Under the MoU, the firm will work with OBG to compile and produce the Law chapter of The Report: Nigeria 2017.

Afamefuna Francis Nwokedi, Principal Counsel& Group Head, Stillwaters Law Firm, said he looked forward to teaming up with OBG to bring the business community both at home and abroad up to date on Nigeria’s evolving legal framework.

“Nigeria’s plans for shifting the economy away from a reliance on hydrocarbons for export revenues and driving growth across its industrial sector, especially at its free zones, have necessitated major legislative and regulatory changes, with more expected,” he said. “Oxford Business Group’s reports on emerging markets are known to be essential reading for the international investment community. I’m delighted to be supporting the team’s research on Nigeria’s economy at this critical time in the country’s development.”

Diana Rus, OBG’s country director, said she was confident that Stillwaters Law Firm’s input would give investors valuable insight into Nigeria’s changing legal framework, including the impact of reforms on doing business in the country.

“While external pressures and domestic challenges remain problematic, Nigeria’s strong fundamentals and abundance of resources make it an attractive prospect for investors, especially those willing to look longer term for results,” she said. “Stillwaters has an in-depth understanding of the country’s legal landscape, providing services across the spectrum.I’m thrilled that both our team and readers will benefit from the law firm’s observations and analysis.”

The Report: Nigeria 2017 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will also contain contributions from leading representatives, including Audu Ogbeh, the Hon. Minister of agriculture, and Okechukwu E. Enelamah, the Hon. Minister of industry. The report will be available in print and online.

About Oxford Business Group

Oxford Business Group is a global research and consultancy company with a presence in over 35 countries, from Africa, Asia and the Middle East to the Americas. A distinctive and respected provider of on-the-ground intelligence on many of the world’s fastest growing markets, OBG has offices in London, Berlin, Dubai and Istanbul, and a network of local bureaus across the countries in which we operate.

The Report: Nigeria 2017 will be produced withthe Nigerian Investment Promotion Commission and the Nigerian Economic Summit Group. Contributions will also be made by SIAO, FBN and Stillwaters Law Firm.Through its range of products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, tourism, energy, transport, industry and ICT. OBG provides business intelligence to its subscribers through multiple platforms: Economic News and Views, OBG Business Barometer – CEO Survey, Roundtables and Conferences, Global Platform – exclusive video interviews, The Report publications and Consultancy division.