Every sovereign state exists with varying applicable substantive and procedural laws which govern its contractual transactions within and outside the state. So, the concept of choice of law in international law which involves conflicting laws administered under different judicial systems has led to sovereign states adopting peculiar procedural laws when faced with it.
The practice of transporting goods and people by water, alongside the utilization of marine resources, commerce, and navigation, is all governed by the maritime rules and laws in Nigeria. These laws include; The Constitution of the Federal Republic of Nigeria, 1999 (as amended), The Merchant Shipping Act of 2007, The Coastal and Inland Shipping (Cabotage) Act of 2003, The Nigerian Maritime Administration and Safety Agency Act of 2007 (the NIMASA Act) and The Admiralty Jurisdiction Act of 1991.
The Nigerian Cabotage policy encourages indigenous shipping, and proper implementation of the cabotage policy in Nigeria would provide more jobs, cause a growth in skill acquisition, increase in revenue generation, and eventually development of the shipping capacity of the country.
Although there is an absence of a statutory definition for E-signature in the Nigerian legal orbit, its validity is not in doubt. In Nigeria, E-signatures are just as valid as wet-ink signatures in respect of all transactions, unless otherwise expressly excluded by law.
Nigeria is one of the largest and oldest producers of oil and gas in Africa. In 2019, this sector accounted for about 5.8 per cent of Nigeria’s real Gross Domestic Product (GDP), and was responsible for 95 per cent of Nigeria’s foreign exchange earnings and 80 per cent of its budget revenues.
Trade relationship is not alien to humans, as it has been ingrained into our daily activities over time. This ranges from petty trade in goods and services to grand-scale cross-border trade. Specifically, the success or failure of cross-border trade relies on the liberty allowed or barriers encountered in the course of conveying goods and services traded upon.
Over the years and even in recent times, when two or more persons decide to engage in a business venture and/or project together, they usually put pen to paper in a bid to protect their diverse interests, should any issue arise.
The action divulged by the leader of the European Commission, Ursula von der Leyen, is to boycott Russian oil imports to the European Union in the coming months, and refined oil products before the end of the year.
In the late part of the 18th century European Industrial Revolution, when mass production of consumer goods enabled enterprises to sell their items at a reduced cost, resulting in a surge in consumer demand.
