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Let me send my congratulations to president Buhari for kickstarting a new oil drilling project in Nigeria.  Sure – more oil will not save Nigeria. Yes, I do not believe that more oil will change any economic trajectory in Nigeria. The more oil Nigeria drills, the more we lose our minds. Nonetheless, I want to congratulate Nigeria and specifically the president for demonstrating one thing: Nigeria has the capacity to execute anything it truly wants to do: “Three years after its oil exploration in northern Nigeria, President Muhammadu Buhari has flagged-off oil drilling projects in the region…at a border community between Bauchi and Gombe States…The project partner, the New Nigeria Development Company, is owned by the 19 states of Northern Nigeria.”

Three years after its oil exploration in northern Nigeria, President Muhammadu Buhari has flagged-off oil drilling projects in the region.

The project, dubbed Kolmani Integrated Development Project, heralds the first ever oil drilling Endeavour in the northern Kolmani River II Oil Field located at a border community between Bauchi and Gombe States.

NAN reports that Buhari will perform the official ground-breaking ceremony of the Oil Prospecting Lease (OPLs) 809 and 810 at the Kolmani River II Well on Tuesday.

The project partner, the New Nigeria Development Company, is owned by the 19 states of Northern Nigeria.

The Nigerian National Petroleum Company (NNPC) Limited, in October 2019, announced the discovery of crude oil, gas and condensate in the Kolmani River.

The speed and the efficiency which Mr President and his team have executed this project demand our commendation. You see, when we cannot build a bridge after 21 years or fix an airport after 12 years or even repair roads, it has nothing to do with capacity. Simply, it is all about political will and leadership. 

IBB built Abuja from scratch in less than 5 years. Today,  governors celebrate commissioning of flyovers. Ask me how many bazaars IBB would have celebrated if he was commissioning flyovers.  Today, opening motorparks are big events. Ask me how many Jakande would have celebrated.  My kinsman, Admiral Ndubuisi Kanu (RIP Ogboo), provided the foundation of modern Aladinma and Ikenegbu layout in Owerri in less than 9 months he was a governor.

So, fellow citizens, this is a big lesson: we need political will and Mr President has demonstrated that Nigeria can do things, from fixing the refinery to the university system, only if we are truly interested. According to the BBC I monitored today, this project will bring $70 billion to Nigeria over ten years. Do not be distracted by that “chicken change”; Nigeria earned close to $742 billion between 1999 and 2020 on oil. Indeed, $70 billion may not even be enough to steal around!

Nigeria earned $741.48 billion from oil and gas between 1999 and 2000, the Nigeria Extractive Industries Transparency Initiative (NEITI) declared in Abuja on Tuesday.

NEITI Executive Secretary, Ogbonnaya Orji, made the declaration at a “stakeholders’ engagement forum” on the implementation of the Petroleum Industry Act (PIA).

NEITI had so far conducted and published 25 cycles of audit reports in the oil and gas sector, covering the period 1999 to 2020, he said.

Mr Orji said that from the reports, a total of $741.48 billion had accrued to the Nigerian government from the oil and gas sector during the period.

On this event , focus on the fact that Nigeria can execute this project (with no Shell, Chevron, or big players involved) in less than 3 years! Can we replicate the same feat in other areas? That is the message, oil or no oil.

This is the most open election in the history of Nigerian democracy because the web has removed the impacts of the gatekeepers, disintermediating decades-old misinformation and disinformation. Among Obi, Atiku and Tinubu, this can go to anyone: “Peter Obi, the presidential candidate of the Labour Party (LP), is tipped to be the winner of the 2023 election if it were held today, an opinion poll conducted by Nextier, a multi-competency advisory firm, has shown.

“The poll suggests a three-horse presidential race between Mr Obi, Bola Tinubu of the All Progressives Congress (APC), and Atiku Abubakar of the Peoples Democratic Party (PDP). Though with a strong support base in Nigeria’s north-west, particularly his Kano home state, Rabiu Kwankwaso of the New Nigeria People’s Party (NNPP) is not considered a top contender, according to the survey. The poll results show that Mr Obi leads in rural communities at 40.37 per cent. Mr Abubakar is at a distant second with 26.7 per cent, closely followed by Mr Tinubu at 20.47 per cent. At 30 percent, the LP candidate has the highest net favourability, the report said. Atiku Abubakar is at 17.3 per cent; Bola Tinubu at 4.98 percent and Kwankwaso is at -8.70 percent.”

In my current model, Obi will do well in North Central. Atiku will win North East and North West. Obi will win South South and South East. In the South West, Tinubu will win it but it would be very close with Obi coming just behind. Largely, Atiku will rake in huge numbers in North East and North West (with those typical numbers from Kano and Katsina). What happens in the South West will determine who makes Aso Rock home for the next 4 years. South West is the battle ground because other regions are already defined. This is #open 

Remember: the poll which matters is the election. VOTE

Comment on Feed

Comment: This is a game of focusing and winning in 4 regions.

In 4 regions so as to meet the constitutional 25% in 2/3 of the states. And the focus to drive turnout/bulk vote.

If you include the NW and avoid the SE in these 4 regions, it becomes easier for you.

With this in mind, APC focused on NW, NC, NE & SW while PDP focused on NW, NC, NE & SS.

The entrance of Labour Party and it’s lead in the NC changes the game.

Labour distortions in the NC & SS and it’s dominance in the SE implies that the winner must go and campaign aggressively in the opponents region.

That’s were we are.

Tinubu is now campaigning in the SE.

Obi must campaign in the NE.

Atiku must campaign in Lagos.

My Response: Nice perspectives. You nailed it because this can go into a run-off if none makes that 25% in 2/3 spread.

Comment 2: Beyond the self-comforting statements from accidental politicians that Obi is a social media candidate, there seems to be a social media extension or a wave that transcends the cyberspace. Many in the SouthWest, especially the transpoters, the agberos, the free spirits on the streets now have Obi on their lips. One man said “check the bag of rice when this one came into office and check what it is now.” In what appeared to be a display of frustration from the brave man, “I think this Obi is the best among them,” he said. The man went further to reference Obi’s accomplishments while a Governor. How did he know so much about Obi that he never met? Social media extension. It is working!

My Response: “Social media extension. It is working!” – that is the disintermediation I wrote about. In the past, he would not have known anything about the other candidates. Not anymore. The web is breaking the walls which the gatekeepers have used in the past to lock people off.

Comment 3: For Obi, lockdown SE/SS, channel most of your energy and resources to NC and SW, then go to states like Taraba, Gombe, Kaduna, Adamawa, and hustle for 25%, and you are home.

Nigerian Presidency is Wide Open As Mobile Internet Could Disintermediate Old Political Structures

Contracts are by far the most common legal instruments in use and demand, serving as a means of establishing business relationships or individual/corporate interactions across all levels of human endeavour.

Whether as professional retainer agreements, agreements of terms and conditions, supply contracts, SLAs, employment contracts, Joint Venture agreements or syndicated Loan documentations, contracts are the basis of relationships giving rise to causes of action under Nigerian law.

While almost everyone presumably knows what contracts are to the point of making the topic look simplistic, many people still do not know about the factors that make a contract voidable, void or enforceable. Many people also do not understand the conditions under which contractual obligations can no longer become binding, and that constitutes the focus of this article which will be looking deepest into the topics of :-

– What contracts are.

– The conditions for a valid contract.

– The factors that invalidate a contract.

– When contracts can no longer be binding.

What is a contract?

A contract is an agreement that is either written, spoken of or implied between 2 or more parties that is enforceable under the law.

What is the Regulatory Framework governing contracts in Nigeria?

Contracts are governed by the Contracts and Torts laws and Stare High Courts of various component states in Nigeria.

What are the ingredients of a valid and enforceable contract under law?

For a contract to be valid,the following must be present :-

– an offer made by a contracting party;

– an acceptance of this offer made by another contracting party, leading to a consensus ad idem or “meeting of minds”;

– the possession of contracting capability by the parties to a contract;

– the passing of consideration,or each party to a contract doing what they said they will do under the contract terms;

– the agreement not conflicting with law or public policy.

What are the elements or factors that can invalidate a contract?

A contract can be invalidated, or vitiated and rendered unenforceable, by the following factors :-

– Undue Influence :- This is the wrongful use of a position of influence or power to pressure (not just persuasion) an unwilling party into a contract. 

– Misrepresentation:- This is a false assertion of fact (which can be fraudulent, negligent or innocent)  made by a party which convinces another party into consenting to a contract.

– A Mistake of facts :- Mistakes of this nature can either be common, mutual or unilateral and occur when the subject matter of a contract ceases to exist e.g. entering into an agreement to sell land that has been acquired by a state government.

– Duress :- This is where the consent of a contracting party to a contract as evidenced by their signature for example is obtained through the use of wrongful force nullifying free will, exemplified by the Latin phrase “Non est factum” or “Not my will”.

Duress can only be claimed by an individual and not a corporation or company. It should also be noted that a party who enters into a contract under duress must move quickly to nullifying the contract afterwards by stating that his consent to the agreement was forced.

– Legal Incapacity :- This is where a party is barred by law from entering into a contract by virtue of mental instability, being a minor below the age of 18, or death.

– Conflict with the law :- This is where a contract goes contrary to public policy, law or government regulations e.g. Entering into a contract to supply banned narcotics or documenting a land sale in a manner contrary to the Land Use Act.

The Concept of Mistake under Nigerian Contract Law

There are instances in commercial legal disputes where a party might claim that he will not perform a contractual obligation because the said contract is rendered void by virtue of something called a mistake.

A mistake in contract law is when one or both parties have a false belief about a contract. A mistake might be a misunderstanding about terms, laws, or information relevant to a binding contract. If a party can prove their false belief has legitimate mistake grounds, the contract would become void.

This article will be looking into the concept of mistake under Nigerian Contract Law, with a focus on :

– The definition of a mistake as a contract law concept.

– The types of mistake in contract law.

– The categories of mistake under contract law.

What is a mistake in contract law?

A mistake is a wrong belief or understanding of facts at the point of contracting which a party to a contract relies on because he believes his understanding of the facts before him or the facts themselves to be correct.

What are the types of mistake under contract law?

A mistake can be either :

– Unilateral – where only one party to a contract is mistaken about the fact of terms or contractual subject matters contained in an agreement;

– Mutual – where parties to an agreement are both mistaken about the same material fact in the agreement, which would render them at opposing purposes or mismatched understandings of the offer, accept and consideration aspects of the contract; or

– Common – where both parties to an agreement hold the same wrong beliefs of contractual facts or subject matters.

What are the categories of mistake under contract law?

The categories of contractual mistakes are:-

– Mistakes of Law 

– Mistakes of Fact 

What are the legal effects of mistakes in contract law?

– Mistakes can be argued as a defense in suits for breaches of contractual obligations which can lead to such obligations deemed voidable(open to being annulled by a party to an agreement) or void(of no legal effect).

– Unilateral mistakes will not render a contract void except if the other party knew of such mistakes or they are deemed unconscionable by a court of law.

– With common mistakes as to subject matter, a contract can be voided in the case of the mistake fundamentally altering the subject matter’s identity, form, description or substance. 

– Mutual mistakes can render a contract void where the parties are mistaken about a material subject matter.