PRIVATISATION, CONCESSIONING AND PUBLIC PRIVATE PARTNERSHIP

NEA has amassed considerable expertise in the field of Privatization, concessioning and Private Public Partnerships and development of micro, small and medium enterprises in Nigeria.

As a leading member of the legal special purpose vehicles, “Legal Alliance and Legal Advisory Partnership”, it also played a major role in a DIFID financial project to provide senior legal support services to the Bureau of Public Enterprises (the Federal Government of Nigeria Privatization Authority). These two SPV’s were formed in response to specific requests from Public authorities for large teams of legal specialists to drive public sector reform programs.

The object of the DIFID sponsored support programme was to enhance the capacity of BPE to manage its large volume of activities in accordance with international best practice and reform existing processes and procedures and ensure that existing privatization-related legal problems were addressed thoroughly and effectively.

NEA, through LAP, played a major role in the implementation of the reforms outlined in the Electricity Power Reform Act.  The firm also through LAP worked closely with the Federal Government of Nigeria, its international advisers and the BPE with respect to the privatization of the Electricity Distribution Companies, created as a consequence of the reform and restructuring of the power sector. This was preceded by extensive due diligence of all government entities operating in this sector.

Additional transactions in this area include:

1. Privatization of First Bank Plc and Tourist Company of Nigeria Limited, the owner of Federal Palace Hotel.
2. Led the team of solicitors acting for BPE in the privatization and reform of the Paper Mill Industry including Nigerian Newsprint Manufacturing Company Limited (Oku-Iboku), Nigerian paper Mills Limited (Jebba) and Iwopin Pulp nd Paper Company Limited (Iwopin). In this capacity conducted due diligence exercise on the companies and advised on issues arising from the various divestiture options available to BPE.
3. Led the team of solicitors acting for the BPE in connection with the privatization of Delta Steel Company Limited.
4. Led the team of solicitors acting for core investors seeking to acquire majority shareholding in National Fertilizer Company of Nigeria Limited, Federal Superphosphate Fertilizer Company of Nigeria Limited, Electricity Meter Company of Nigeria Limited and National Truck Manufacturers Limited in the privatization programme of the Federal Government. In this capacity, rendered transactional services and due diligence exercise on the companies and rendered legal advice in preparing the bids for the companies. Also reviewed the Share Sale/Purchase Agreement between BPE and |Dantata Investment and Securities Company Limited with respect to successful acquisition of EMCON.

NEA also acted as legal Counsel to the oldest pharmaceutical company in Nigeria in its joint venture Public Private Partnership with the Federal Government of Nigeria over Bio-vaccine Project pursuant to the Federal Government Health Policy.  NEA provided the legal guidelines for the execution of the project which had created the platform for commercial and local manufacturing of Bio-vaccine drugs in Nigeria.