Direct agreements: the lender protection grantors keep watering down.
Lenders financing a Nigerian concession need step-in rights that survive contract renegotiation — grantors routinely try to weaken exactly that clause.
Infrastructure & PPP
Change-in-law clauses in Nigerian concessions: a drafter’s checklist.
A change-in-law clause that only covers new legislation misses the tariffs, levies and regulatory directives that actually disrupt Nigerian concessions.
Structuring PPPs that survive a change of administration.
The clauses, governance arrangements and risk allocations that keep long-tenor infrastructure transactions bankable across political cycles.
Termination compensation: why the formula matters more than the cap.
Investors negotiating a concession focus on the termination-payment cap. The formula that calculates it is what actually determines what gets paid.