On 17th October 2019, the Department of Petroleum Resources (‘DPR’) issued the Guidelines for the Release of Staff in the Nigerian Oil and Gas Industry 2019 (‘the Guidelines’). The Guidelines were issued according to the provisions of the Petroleum (Drilling and Production) Regulations 1969 (as amended), which are made pursuant to the Petroleum Act (‘the Act’). The Guidelines establish the procedure for obtaining the prior approval of the Minister of Petroleum Resources (‘the Minister’) through the DPR, before the release of any worker employed by the holder of an oil mining lease, licence or permit under the Act or under Regulations made thereunder or any person registered to provide any services in relation thereto. Thus, the implication of the Guidelines is that it applies to virtually all sectors, insofar as the members of the sector have the requisite permit to provide services in the Oil and Gas industry.
The Federal Government of Nigeria through the Nigerian Immigration Service (NIS) on 4 February 2020 launched the Nigeria Visa Policy 2020 (NVP 2020). The NVP 2020 is necessary to spur the Economic Recovery and Growth Plan (2017-2020) to improve Foreign Direct Investment (FDI) and boost tourism without compromising national security.
A registered design gives protection to the shape of the product e.g. lines, colours or any three-dimensional form. The idea is to prevent others from reproducing the external design of the product for industrial use. The owner of a registered design can prevent others from reproducing, importing, illicitly profiting, selling or utilising for commercial purposes by reproducing the design.
Industrial design focuses on aesthetic value and do not protect the technical or functional features of the product, it only applies to the aesthetic nature of a finished product, and it is distinct from any technical or functional aspects. Industrial design protects the aesthetic value and relevant to the fashion, textile design, jewellery industry etc. A registered design is protected for a period of 5 years from the date of the application for registration. Protection may be renewed for two further consecutive periods of 5 years. The Trademarks, Patents and Designs Registry domiciled in the Commercial Law Department of the Federal Ministry of Industry, Trade and Investment is saddled with the responsibility for registration of industrial design.
Patent is an exclusive right granted for an invention, a product or process providing or offering a new practical solution to a problem or dilemma. Patent application in Nigeria is regulated by the Patents and Design Act Cap P2 LFN 2004. Patent right grants the “statutory inventor” (first to file) a temporary, but exclusive right to the commercial exploitation of an invention. It gives the inventor the exclusive right to exclude others from producing, using, or selling the patented invention in that country without the patent owner’s consent or permitted by law, for the duration of 20 years subject to renewal.
The article contains the criteria for patenting an invention, process, registration and the administration responsible for granting patent application in Nigeria.
Pursuant to Sections 11(c) and 51(c) of the Financial Reporting Council of Nigeria Act 2011, the Financial Reporting Council of Nigeria (FRC) is vested with the powers to ensure good corporate governance practices in the public and private sectors of the Nigerian economy by issuing the code of corporate governance and guidelines, and developing a mechanism for periodic assessment of the code and guidelines. The Financial Reporting Council in the exercise of these powers recently issued the Nigerian Code of Corporate Governance (The Code). The Code was unveiled by the Vice President of the Federal Republic of Nigeria and the Honourable Minister of Industry, Trade and Investment on the 15th of January 2019.
Background to the Code
The FRC in 2016 released draft codes of corporate governance pertaining to private companies, public companies and not-for- profit organizations. The codes were criticized as being in contradiction with existing corporate legislations largely the Companies and Allied Matters Act 2004 and the codes of corporate governance applicable to different sectors of the economy. Following the controversies that trailed the codes especially as it relates to religious institutions, they were suspended by the Ministry of Industry, Trade and Investment.