Investor Presentaiton

6B Infrastructure development in Nigeria is currently hindered by multiple legislative challenges Challenges identified by the legal TWG Sector Legislation affected NNPC Act, Petroleum Act Energy Challenges Land Use Act ☐ All Nigerian Mining Corporation Act Nigerian Railway Corpo- Mining ration Act, Nigerian Ports Transport Authority Act, National Inland Waterways Act Federal Highway Act Transport ICRC Act Selected examples highlighted. Total of about 20 acts are in need for adjustments All ☐ Many and complex laws, making it challenging for investors Little room for states to support investments Act creates several bottlenecks which discourage capital inflow Prevents private sector involvement Corporation sole responsible for exploration, prospection, mining of minerals Prohibits construction/extension of some infrastructure (e.g., rail) without minister permission Limits private sector participation Reduces private sector involvement Minister of Works responsible for all construction and maintenance Emphasises concession contracts to the exclusion of other PPP options Unclear role of Commission's (facilitator or regulato) No provision for unsolicited bids or legacy projects NON-EXHAUSTIVE ■ Passing a NIIMP act to consolidate all required changes should be considered ■ Act will be challenging, however may be a faster route than changing individual laws one by one SOURCE: Legal TWG 41

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