Real Estate and Mining
In Nigeria, real estate has been identified as one of the fastest growing industries, with an increase in the general consciousness of investment opportunities available in the Nigerian real estate market. This has led to a rapid development of residential estates as well as commercial blocks in various parts of the country, particularly in the twin cities of Lagos and Abuja.
At Odujinrin & Adefulu, we provide legal advisory and support services to clients on the acquisition, development and financing of commercial and residential properties. Our clients include High Net worth Individuals, companies in various sectors and Real Estate Investment Trust Fund registered with the Securities and Exchange Commission. Our services include the following:
- Identification of potential real estate assets and advising on the procedure for the acquisition of same;
- Conducting due diligence to confirm the ownership and status of a real estate asset;
- Provision of advice on the legal and regulatory framework governing the acquisition/lease of real estate assets in Nigeria;
- Negotiation and preparation of documentation necessary to give legal efficacy to a real estate acquisition;
- Provision of expert advice and assistance on financing options relating to asset acquisition finance or project finance;
- Advise on secured construction transactions and long term mortgage loan transactions;
- Assistance with the negotiation and drafting of construction agreements; and
- Assisting in the legal registration of real estate rights at the relevant land regulatory agencies.
Nigeria holds a significant reserve of solid minerals. At the last count, the country is known to have over 40 types of minerals discovered.
In Nigeria, mining of solid minerals is governed by the Nigerian Minerals and Mining Act 2007 (the “Act”), as well as the Nigerian Minerals and Mining Regulations 2011 (the “Regulation”). While the Act seeks to stipulate the legal and regulatory framework for mining activities in Nigeria, the Regulations provide for the procedure and processes for the acquisition of mineral titles in Nigeria. The types of mining titles presently available are exploration license; water use permit; quarry lease; small scale mining lease; and mining lease.
Our Mining Team advises a varying range of clients on the procedure and requirements for a license/ permit or lease grant application. This also includes interfacing with the local communities for the compensation for destruction of crops, acquisition of land, or relocation of the community (where the land upon which the mineral can be found is owned by a community), as well as assisting in the development of an adequate Community Development Agreement. Our Mining Team also advises on the procedure for the extension of a license grant and the transfer of a grant.
O & A as recognized experts in the mining sector, provides specialized services relating to:
- The proceedings and requirements to obtain mine and quarry research, exploration, exploitation and processing rights; Advice, assistance and representation in the acquisition process of various mining rights;
- The creation of mining companies in the Nigeria;
- Analyse and advice on Nigerian Mining Laws, Rules & Regulations;
- Provision of required advice to and facilitation of Foreign Companies seeking to invest in the Nigerian mining sector;
- Acquisition of mining assets;
- Interfacing with the Federal Government and any other administrative bodies for issues related to the implementation of mining rights;
- Due diligence on ownership and legal standing of mining rights and assets;
- Provision of advice on local financing options with regard to development of mining assets;
- Assistance with the negotiation, drafting of contracts and structuring of finance transactions relating to foreign investment into the private, corporate and government mining entities in Nigeria;
- Renewal and extension of mining licenses.