In this three-part series, TEMPLARS partners, Chike Obianwu, Zelda Akindele, and Sesan Sulaiman start off with a recap of the major trends, transactions and developments of 2022, and then go on to share their respective outlooks for the Nigerian economy and legal services market for 2023.

Key takeaways from Part 1 of the Series [include/are as follows]:

Various proposed divestments by major players in the oil and gas industry in 2022 and the challenges that have plagued these transactions.

The growing impact of Energy Transition on businesses in Nigeria.

Nigerian companies and projects positioning for a wider African play with transformational projects such as the Lekki Deep Sea Port.

The new Petroleum Industry Act in action, including the tax and fiscal considerations driving decisions by licence holders on voluntary licence conversion to the new Petroleum Industry Act regime.

The impact of various changes in tax law on investments, particularly in relation to digital services and capital gains on disposal of shares.

The impact of the impending general elections on the business environment

Investment outlook and growth opportunities for the year 2023