Legal Aspects of Foreign Investments and Financing of Energy Products in Nigeria

Nigeria is a Federation consisting of twenty-one States, and a Federal Capital Territory. It is the largest African Country with probably the largest concentration of foreign investment potentialities with a viable and adequate financing. In the true tenet of Federalism, the 1979 Constitution provided for a distinction in the legislative powers between the central Government and the State Governments. The Constitution of the Federal Republic of Nigeria 1989 has also maintained this federal arrangement. Although that is the constitutional position, the Military Government has, as a matter of policy, built into the system some element of unitarism in a federal disguise. While the Military Government in essential legal details maintain the federal content in the system, there are known areas of federal presence in the States in the interest of the governance of the peoples and the economic viability of the States.