Prospectus

Chartered Institute of
Taxation of Nigeria
International Bureau for
Fiscal Documentation
Centre for Petroleum and
Mineral Law Research
invites applications for the 2015
AFRICAN FELLOWSHIP PROGRAMME
in
Energy Fiscal Valuation, Contract Administration
and Tax Management
(180 CREDIT UNITS TRANSFERABLE TO THE MASTERS IN BUSINESS ADMINISTRATION [MBA] DEGREE OF BAZE UNIVERSITY
AND EXEMPTIBLE MODULES FOR MEMBERSHIP OF THE CHARTERED INSTITUTE OF TAXATION OF NIGERIA)
Moderated by
Baze University
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Statement by the Chairman of the Joint Management Committee of the
Africa Fellowship Programme in Energy Fiscal Valuation, Contract
Administration and Tax Management

Professor Keith Engel
The 2014 Oil and Gas in Africa Report by Price Waterhouse Coopers (PwC) alerts that in the same
year, a new oil and gas transaction came into place in Africa in every four days and that the value
of these transactions in every seventeen days was USD$ 22.2 billion. The question that therefore
arises is whether a fair representation of tax practitioners and other professionals such as lawyers
of African descent were significantly involved as advisors in these transactions?
It is this dismal, if not non – involvement of African professionals as fiscal regulatory or as
contract management advisors in the major oil, gas, solid mineral mining or electricity
transactions in the continent over the decades that has precipitated the establishment of the
Africa Fellowship Programme (AFP) in Energy Fiscal Valuation, Contract Administration and Tax
Management by the Centre for Petroleum and Mineral Law Research (CPMLR) in collaboration
with the International Bureau for Fiscal Documentation (IBFD) and the Chartered Institute of
Taxation of Nigeria (CITN) with a view to avail African tax, regulatory and contract management
advisers with world class cutting edge negotiation, transactional and drafting skills.
Upon successfully completing modules in the Africa Fellowship Programme in Africa Energy
Fiscal Valuation, Contract Administration and Tax Management, the one hundred and eighty
credits earned from the programme are fully transferable towards a postgraduate degree
programme conducted by Baze University. Transferring students shall be expected to pay the
prescribed exemption fee directly to Baze University.
The transfer of such credits shall be subject to departmental requirements and attainment of
departmental approval for exemption from the specific Masters Degree module(s). The Africa
Fellowship Programme in Energy Fiscal Valuation, Contract Administration and Tax Management
shall bring tax, legal, project finance and contract management professionals from Africa to
Abuja for six months of post graduate-level study, leadership development and professional
collaboration with counterparts in the oil, gas, solid minerals and electricity sectors.
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The Joint Management Committee of this programme opted for the Africa Fellowship
Programme, being an executive education training, rather than a masters degree programme,
upon appreciation of the fact that an executive education approach is a more specialised pathway
of study which provides its grandaunts with a tailor specific skills based training for their
preferred sector and within half of the contact time for obtaining a masters degree.
Additionally, the robust training which our Africa Fellowship Programme added to the option of
transferring the 180 credit units earned on the programme to a Masters degree programme of
Baze University provides is targeted at persons who are attaining the middle and senior
management cadre in the taxation, financial, legal or contract management areas of the oil, gas,
solid mineral or electricity sectors of the economy and therefore require in-depth training in
order to effectively function as respected industry players in Africa’s fast growing oil, gas, solid
mineral mining and electricity sectors.
Having worked as a tax lawyer and as an academic for over three decades and a significant period
of my career in Africa from the government regulatory as well as private sector advisory, I have
come face – to-face with the challenges that young professionals in the continent encounter in an
era in which businesses and business practices in the continent continue to re-invent themselves
towards global competiveness.
The foregoing has made it very imperative for young corporate and financial executives as well as
project planning, tax and legal advisors in Africa to understand not only how businesses operate,
but also how they make their policies. Similarly, business managers and corporate executives
need to appreciate how tax policy specialists and tax administrators arrive at their tax
assessments and the essence for a ‘win-win’.
Our Africa Fellowship Programme therefore aims at building the conceptual underpinning for
the upbraiding of business concepts and Africa’s tax policies from their silos and the bridging of
expectations between emergent financial and corporate executives on the one part and
regulatory and fiscal regulators as well as legal advisors on the other part, even at the
foundational stage. This fusion of strategies towards a common agenda through cutting edge
capacity building has become even more unavoidable with Africa’s emergence as the new frontier
for global investments and the heralding of an era in which transactions have become technology
savvy and increasingly borderless, even as countries through which these transactions
materialise assert their sovereignty over corporate regimes and tax issues.
As a tax policy adviser in Africa, I have seen the limitations in the current resource capacity for
the negotiation and drafting of such transactions in Africa and how modernisation and
transformation policies in one country without the same policy reforms in a neighbouring or
transiting country or destination country does little good to the continent’s overall economic
well – being. The networking by not only tax professionals, but also corporate, financial and legal
professionals, from all over Africa for as long as four months while undergoing our Africa
Fellowship Programme would therefore do great good to the continent’s economies.
It is hoped that in a few years to come grandaunts of this programme shall become a resource
pool of self - confident, globally competitive, highly knowledgeable and robustly skilled world
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class experts of African descent in the tax, legal, financial, transactional and contract
management of oil, gas, solid mineral and electricity.
We would not only give you value in our training, but also the opportunity of a fulfilling career
long networking with similar experts in all parts of Africa.
I commend you for considering undertaking our combined Africa Fellowship Programme as a
pathway to a Masters in Business Administration degree of Baze University. As you make your
decision, please be guided by the fact that our programme is presently the only programme in the
world that has combined academic modules with practical problem solving modules in tax, law,
project finance and contract management for the extractive and energy sectors with a focus on
Africa and which is delivered by a faculty of highly proven tax, project finance and legal
international and national industry experts with decades of industry expertise in administration,
transactions and teaching.
It is therefore with profound pleasure that I welcome applicants to the course which is
benchmarked and compares at par with similar programmes conducted by Ivy League
universities and centres of excellence anywhere in the world.
I look forward to welcoming you to the premises of Baze University which is the location for this
course.
Thank you.
Professor Keith Engel,
Chairman, Joint Management Committee, Africa Fellowship Programme in Energy Fiscal
Valuation, Contract Administration and Tax Management
& Deputy Chief Executive of the South African Institute of Tax Practitioners (SAIT)
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Introductory Statement from the Director of
Africa Energy Fiscal Valuation, Contract Administration
and Tax Management Programme
Dr. Perisuo Dema
On behalf of the Management of the Africa Energy Fiscal Valuation, Contract Administration and Tax
Management Programme, I am delighted to introduce the Africa Fellowship Programme (AFP) in
Energy Valuation, Contract Administration and Tax Management to you. This programme is jointly
conducted by the Centre for Petroleum and Mineral Law Research of Nigeria (“CPMLR”) in conjunction
with the International Bureau for Fiscal Documentation based in the Netherlands (“IBFD”). The AFP is
moderated by Baze University and the Chartered Institute of Taxation of Nigeria (“CITN”) who are
respectively the academic and professional external examiners of the AFP.
The Africa Fellowship Programme in Africa Energy Fiscal Valuation, Contract Administration and Tax
Management consists of a curriculum of courses which are creditable (upon exemption by CITN)
towards CITN membership examination modules as well as non-credit short courses and combines
IBFD’s academic and research expertise. The programme is an energy and electricity management
training which is law, project finance and tax focused.
Ever since the discovery of petroleum in Africa in the mid-20th century, Africa has attracted and
continues to attract huge global investments to her energy resources. In addition, the region has
recently witnessed resurgence in her nations’ solid mineral and renewable energy sectors. An increasing
number of international organizations such as the World Bank, the United Kingdom Department for
International Development (DFID), the United States Agency of International development (USAID),
the Canadian International Development Agency (CIDA), the Australian International Development
Agency (AusAID) and the Chinese Government have rekindled interest in the sub-continent’s hitherto
mining sector.
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All these activities underscore the need to train African policy formulators, strategic planners,
economists, project financiers, tax experts and lawyers with globally competitive skills with which to
provide value chain services to Africa’s budding petroleum, solid mineral and renewable energy sector.
As a result of the highly lucrative basket of commercial activities in countries within the African region,
national policy makers and professionals in the energy sector face a huge challenge to robustly
negotiate, draft and administer highly complex transactions in ways that will benefit citizens of the
nations in the Africa region as well as investors.
The Africa Fellowship Programme in Energy Fiscal Valuation, Contract Administration and Tax
Management is structured to give students the requisite skills, knowledge and tools to become effective
negotiators, drafters, project finance arrangers and contract managers. Although this programme will
focus on hands – on training, students will have the benefit of being lectured by renowned global experts
who will expose them to case studies and decades of practical industry experience gained within the
region and internationally. The objective is that at the successful completion of this programme our
grandaunts will join the list of highly sort after global experts in their area of specialisation.
Our curriculum has accordingly been prepared with robust inputs by senior academics, industry leaders,
recruiters and employers to ensure that our Africa energy law, project finance and tax Fellows are
equipped to handle the challenges the energy and extractive sectors face in the 21st century. The
Programme’s Management under the supervision of the Joint Management Committee is also
committed to providing students with quality support facilities in the cause of their studies.
Predicated on our training menu for the programme, we are confident that an Africa Energy Law,
Project Finance and Tax grandaunt will provide endless opportunities for its recipients.
We look forward to welcoming you to this programme.
Dr. Perisuo Dema
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About the
Africa Fellowship Programme in Energy Fiscal Valuation, Contract
Administration and Tax Management
The Centre for Petroleum and Mineral Law Research (CPMLR) in conjunction with the
Chartered Institute of Taxation of Nigeria (CITN) and the International Bureau for Fiscal
Documentation of Amsterdam (IBFD) developed the Africa Fellowship Programme in
Africa Energy Fiscal Valuation, Contract Administration and Tax Management. The
programme which is moderated by Baze University will provide six months of post graduate
level study and culminate in the transfer of the 180 credit units earned on the programme
towards the Masters in Business Administration (MBA) degree of Baze University in any of
the following four pathways:
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 Upstream Petroleum Valuation, Project Finance and Production Tax Management
(a six months practical course on petroleum taxation, project finance and contract
administration with emphasis on excel based modelling and valuation);

Solid Mineral Valuation, Project Finance and Production Tax Management
(a six months practical course on mineral taxation, project finance and contract
administration with emphasis on excel based modelling and valuation);

Electricity Econometrics, Project Finance and Tax Modelling
(a six months practical course specialising in electricity econometrics with
emphasis on excel based valuation, project finance and tax modelling); and

Upstream Petroleum, Mining and Electricity Legal Risk Management
(a six months course specialising in licensing legal / fiscal regimes,
contract drafting, contract administration, project finance, risk management and
arbitration for upstream petroleum, solid mineral production and renewable energy).
 Academic Qualification Status
The Africa Fellowship Programme is equivalent to a Post Graduate Certificate course.
 Annual Course Work Duration (Two streams of six months each)
a. September – February
b. March - August
[
 How to apply and admission requirements
 Applicants are required to have an undergraduate degree in any subject as well
have strong English and numeric skills.
 Once the completed application is received by our Administrative Officer, it
shall take less than ten working days for a decision to be issued. The applicant
will be notified whether or not a place on the programme has been offered.
 Completed applications can be submitted at any time and will be considered
from June 1, 2015. The application cycle closes on August 15, 2015. We
operate a “rolling admissions” process until all the available places are filled so
applicants are recommended to apply early.
 Admission application forms can be obtained upon payment of Twenty = Five
Thousand Naira (N25,000.00) to CPMLR’s current account
(No.3232680015110) and sort code (No. 058083231) at any branch of
Guaranty Trust Bank PLC of Nigeria from 1st May to 15th August 2015 and
presentation of payment slip. Duly completed forms should be submitted by
15th August 2015 to: The Administrative Officer, Africa Energy Fiscal
Valuation, Contract Administration and Tax Management Programme.
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Structure and Schedule of Courses Delivery

Face - to - Face Classroom Study: Delivery of modules of the programme shall be by
classroom interaction, while tutorials and students’ academic discussions shall be
facilitated through CPMLR’s web portal.
The fee for the Africa Fellowship Programme:
The current fee for programme is Four Thousand British Pounds (GBP £4,000) or One
Million, Two Hundred Thousand Naira (N1, 200, 000.00).
 Criteria for Grant of AFP Certificate
 To obtain the AFP certificate, students are required to attend and participate in
seventy – five (75%) of the lectures and to complete the assessments.
 Method of Evaluation
Students shall be assessed through written examinations for each module.
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Lecturers of the Africa Fellowship Programme in Energy Fiscal Valuation, Contract
Administration and Tax Management:
 Contracts Administration Modules –
The under listed persons are lecturers for the Contracts Administration Modules of our Africa Fellowship
Programme.
 PROFESSOR IBIBIA WORIKA
Professor Ibibia Worika is an Adjunct Professor with the African Energy
Fiscal Valuation, Contract Administration and Tax Management Programme. He lectures our module
“AFP - PGD 100: Legal Ownership and Energy Security of Natural Resources Production in the Africa”.
He is a tenured Professor of Law at the University of Professor of Law at the University of Port Harcourt.
Professor Worika recently worked as a Legal Adviser responsible for mineral resources at the
Commonwealth Secretariat in London. Before his appointment at the Commonwealth, he was the Senior
Legal Counsel of the Organization of Petroleum Exporting Countries (OPEC). Before that, he was a
Senior Law Lecturer with the Faculty of Law of the University of Science and Technology in Port
Harcourt, Nigeria as well as a Senior Associate with Anga & Emuwa, a firm of Legal Practitioners and
Notaries, member of Meritas Attorneys World Wide.
Professor Worika was a Commonwealth Academic Staff Scholar at the Centre for Energy, Petroleum &
Mineral Law and Policy, University of Dundee, where he obtained his Ph.D. in International
Environmental and Comparative Petroleum Law and Policy in 1999. He was also a post-doctoral research
scholar at the Centre between 1999 and 2000. During this period and thereafter, he had either alone or in
combination with others consulted for the European Union, United Nations Economic Commission for
Europe (UNECE), United Nations University in Tokyo, Japan, the United Nations Development
Programme (UNDP), a number of international non-governmental Organizations (NGOs), including the
International Union for Conservation of Nature and Natural Resources (IUCN) in Bonn and the
MacArthur Foundation in the United States.
Dr. Worika has published widely in international legal journals including a book, Environmental Law &
Policy of Petroleum Development in Africa, as well as several articles.
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He is also a member of several international professional associations including the American Society of
International Law (ASIL), International Bar Association (IBA) and the Climate & Energy Expert Group of
the Commission on Environmental Law (IUCN).

Professor Keith Engel
The Deputy Chief Executive of the South African Institute of Tax
Practitioners (SAIT), Professor Keith Engel, is a South African and the Chairman of the International
Advisory Board of CPMLR. He was until recently the Director in charge of Tax Policy for Africa at Ernst
&Young (now officially known as “EY”). Professor Engel is a South African citizen. Prior to joining EY,
Professor Engel worked within the South African National Treasury in the development of tax legislation
and eventually led the legislative tax process as Chief Director for many years. Professor Engel had earlier
lectured at Washington & Lee University on the full gamut of United States tax issues and did visiting
lectures at Boston University Law School, the Georgetown Law Center and University of Texas Law
School. He also performed tax work at the Internal Revenue Service (National Office) of the United States
Government and for two United States federal judges. Professor Engel obtained his law degree and his
masters in taxation at the Georgetown Law Center. He will deliver aspects of the extractive sector tax policy
module of our Africa Fellowship Programme .

Dionisio Manuel Da Fonseca
Dionisio Manuel Da Fonseca is an Angolan and the Special Adviser for Legal Affairs to the Vice President of Angola. Mr. Fonseca obtained a Bachelor of Laws degree from Augustino Neto University in
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Angola, before earning a Master of Laws [LLM] degree in Oil and Gas Law from the University of
Aberdeen in Scotland.
Mr. Fonseca has worked in senior level legal positions in the Department for Operational Business and
Concessions of Sonangol Exploration and Production, the Angolan national oil and gas company. He also
worked as an Assistant Professor of Oil and Gas Law at his alma mater, the Augustino Neto University in
Luanda, during which period he published several scholarly articles in peer reviewed journals. He had
earlier worked as a Legal Counsel in the Luanda law practice of Carlos Feijó & Raul Araujo, Advogados
Associados. He will deliver the comparative licensing module of our Africa Fellowship Programme.

Dr. Thomas Kojo Stephens
Dr. Thomas Kojo Stephens is a Ghanaian lawyer and petroleum policy
analyst. He contributed to the conceptualization of the legal framework for the development of the
petroleum sector of Ghana through his work as one of the senior counsels in the Accra based law firm of
Akufo – Addo, Prempeh &Co.
Dr. Stephens obtained a Bachelor of Arts degree in Political Science and Philosophy with a Summa Cum
Laude from Emory University in the United States before graduating with a Bachelor of Laws degree from
University of Ghana, before earning a Master of Laws [LLM] degree in Transactional Law from Cornell
University in the United States. Dr. Stephens also has a PhD in Petroleum Law and Policy from the
University of Aberdeen in Scotland which he successfully undertook as a British Commonwealth Scholar.
He will deliver the petroleum licensing modules of the programme.

Mr. Ahmed Yabo
Ahmed Yabo is the Legal Adviser of the Nigeria-Sao Tome and Principe
Joint Development Authority where he has coordinated the negotiation and drafting of all the current
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petroleum exploration and production regulations, policies and guidelines for the joint development zone.
Upon his attainment of an LLB in Nigeria, he attended the Nigerian Law School from where he was
admitted to the Nigerian Bar. He subsequently graduated with an LLM in Energy Law and Policy in 2004
and an MSc with specialisation in Energy Finance in 2008, both from the University of Dundee.
Additionally, Mr.Yabo has attended Executive Education programmes at world-class institutions such as
Harvard Law School and Harvard Kennedy School of Government where he studied negotiation and
international tax policy &administration, respectively; INSEAD, France; CWC School for Energy, UK;
Rocky Mountains Mineral Law Foundation, USA and PetroSkills.
Mr. Yabo will deliver some of the law modules of our programme.
Dr. Perisuo Dema
.
Dr. Perisuo Dema is a Nigerian and the founding Director of CPMLR.
He is concurrently a Senior Lecturer in the Law Faculty of Baze University, where he lectures all the
modules on oil and gas law. Dr. Dema is also the Legal Adviser to the Nigerian House of Representatives
Ad- Hoc Committee on the Petroleum Industry Bill, a position which he holds by virtue of his work as the
Honorary Adviser on Petroleum and Taxation to the Deputy Speaker of the Nigerian House of
Representatives. Dr. Dema’s work at the Nigerian National Assembly is supported through a grant from the
Facility for Oil Sector Transparency and Reform (FOSTER), a project of the United Kingdom Department
for International Development (DFID). He is concurrently working as the Consultant to DFID/FOSTER
on the Nigerian Solid Mineral Mining Revenue.
Dr. Dema had upon a similar consultancy engagement by the World Bank head office in Washington
earlier advised the Government of Tanzania on legal and fiscal matters pertaining to her mining regime.
Dr. Dema recently worked for the World Bank as its Fiscal Policy Consultant for its Nigerian Mining
Sector Reform Project.
Prior to the World Bank assignment, Dr. Dema earlier worked as the Assistant Director responsible for
Oil, Gas and Mining in the Tax Policy Department of the Federal Inland Revenue Service (FIRS) of
Nigeria.
It was from the FIRS that he was head hunted to work as an Associate Director at the global interdisciplinary consultancy firm, Ernst &Young (EY). He resigned from EY to enable him give full attention to
the seamless take- off of CPMLR and a full-time career in academics.
Dr. Dema commenced his public service career at Nigeria’s Department of Petroleum Resources (DPR)
where he worked as an in-house legal counsel from where he was seconded to the then Minister of Energy
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as the Legal Assistant on Legislative Matters to the Minister. He left DPR to undertake an LLM degree
training at the University of Aberdeen where he graduated magna cum laude in Oil and Gas Law. He
followed up with a PhD programme in Reserve Based Finance Law also from the University of Aberdeen.
He will deliver some of the legal modules of our Africa Fellowship Programme.

DR. KAYODE ONIEMOLA
Dr. Kayode Peter Oniemola is a Law Lecturer with the African Energy
Fiscal Valuation, Contract Administration and Tax Management Programme. As a consequence of several
of his publications in some of the globally most renowned peer review journals, Dr.Oniemola has become
a well published specialist on the legal aspects of renewable energy as it pertains to Africa.
Dr. Oniemola earned a Second Class Upper degree in Law from the University of Ilorin and was a Mac
Arthur Foundation Scholar at the University of Ibadan from where he graduated with a Masters of Laws
(LLM) degree before obtaining a PhD in Renewable Energy Law from the University of Aberdeen.
Dr. Oniemola has practiced law in Nigeria and was appointed by the Federal Government of Nigeria as a
Legal Consultant to help the then Oil and Gas Industry Committee (OGIC) to review the Petroleum
Industry Bill (PIB).
As a law lecturer with the African Energy Fiscal Valuation, Contract Administration and Tax Management
Programme, Dr. Oniemola shall deliver the renewable energy components of the programme, particularly
the legal aspects of the renewable energy modules.
 Tax Modules –
The Coordinator of the Tax Modules of the Africa Fellowship Programme is Mr. Mark Dike.
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Mark Dike
Mr. Mark Dike is a Nigerian and the current President of the Chartered
Institute of Taxation of Nigeria (CITN). He recently retired from the Federal Inland Revenue Service
(FIRS) after a long and meritorious service spanning over three decades. While at FIRS he held various
positions such as Director of Tax Policy and Tax Controller, Oil and Gas.
Mr. Dike earned a Bachelor’s degree in Economics from Obafemi Awolowo University, Ile-Ife. He is an
alumnus of the Tax Policy Programme of the Harvard Business School as well as a Fellow of the Chartered
Institute of Taxation of Nigeria where he had been the Chairman of the Oil, Gas and Solid Minerals
Faculty.
Mr. Dike is a respected thought leader on taxation in Nigeria and possesses profound hands – on expertise
in oil and gas taxation and tax audit shall be of tremendous benefit to students that would undertake the
modules on tax policy which he shall deliver.
The under listed persons are lecturers for the international tax and transfer pricing component of our
Africa Fellowship Programme. They are coordinated by Belema Obuoforibo.
Belema Obuoforibo
Belema Obuoforibo is a Nigerian and the Director of the Knowledge
Centre of the International Bureau of Fiscal Documentation (IBFD) as well as the IBFD in-house tax
specialist for the United Kingdom. Before joining IBFD, she worked for many years in London as a UK
Chartered Tax Adviser, specializing in the taxation of high net worth individuals and owner-managed
businesses.
Before becoming Director of the Knowledge Centre, she held various positions at IBFD, serving among
others as Manager of the European Knowledge Group, and also as Principal Research Associate in the
selfsame group. Obuoforibo is a member of the Technical Committee of the UK Chartered Institute of
Taxation, specifically the International Taxes Sub-Committee as well as the Owner Managed Businesses
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Sub-Committee. Obuoforibo is widely published in the field of cross-border taxation. Her experience as a
lecturer in this area has taken her across Europe, Africa, Asia and the Caribbean.
Obuoforibo has been an Editor at LexisNexis. She was educated with an LLB (Hons) from Makerere
University in Uganda and at the College of Law of England and Wales .In addition to being a United
Kingdom qualified Chartered Tax Adviser (CTA), she is also a Fellow of the United Kingdom Association
of Tax Technicians (ATT).
Obuoforibo is a tutor of the segment on Cross – Border Upstream Petroleum Taxation of the Africa
Fellowship Programme.
Their profiles are as follows:
Kennedy Munyandi
Kennedy is the Manager of the Africa, Middle East and Latin
America Knowledge Group at IBFD. He has about 20 years of
experience in tax administration, policy, research and
publication, and government consultancy. His areas of interest
include international tax law, investment tax incentives, and
natural resources taxation. Kennedy has worked as a Senior Tax
Inspector at the Zambia Revenue Authority and, on secondment,
as a Tax Advisor at the Organisation for Economic Co-operation
and Development (OECD).
Kennedy holds an undergraduate degree in mathematics from
the University of Zambia (1992), a postgraduate degree in
international tax law from Leiden University (2005) and a
certificate in comparative tax policy and administration from
Harvard University (2011).
Kennedy is one of the instructors for the principles of
international taxation, and oil, gas and mining taxation modules.
Ridha Hamzaoui
Ridha is the Regional Manager for Africa and Middle East regions
under the IBFD Africa, Middle East and Latin America Knowledge
Group. He is an expert on tax treaties for the United Nations
Development Programme in the Middle East region. He has a
specialized master’s degree in tax law from the Tunisian
University, an LLM in International Tax Law from the
International Tax Center, Leiden University and a certificate in
comparative tax policy and administration from Harvard
University.
He also graduated from the National School of Treasury in France
where he successfully completed the postgraduate programme
for Treasury inspectors. He has lectured for tax officials in
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Uganda, Algeria, Egypt, Jordan, UAE and Syria. Mr Hamzaoui is
also a regular speaker in the Africa/Middle East region on
international tax issues and an instructor for the IBFD open and
in-house courses. The topics covered include taxation of passive
income, international tax aspects of employment income,
attribution of profits to PEs and the interaction of anti-avoidance
rules with tax treaties.
Before joining IBFD, he worked as a senior tax advisor within the
Tax Legislation General Directorate of the Tunisian Ministry of
Finance for four years and lectured for tax officials at the
Ministry of Finance training institute. He also lectured at the Vrije
Universiteit of Amsterdam and the Tunisian University.
Ridha is one of the instructors for the principles of international
taxation, transfer pricing, and oil, gas and mining taxation
modules.
Monia Naoum
Monia is a Research Associate in the Africa, Middle East and
Latin America Knowledge Group at IBFD Amsterdam. She is a
country specialist of a set of French and Arabic speaking
countries in the Middle East and Africa. In addition to
publications about the tax systems of the countries in her
portfolio, she regularly participates in cross-border taxation
research projects and client requests.
Before joining IBFD in 2011, Ms. Naoum worked as a tax official
at the Moroccan tax authorities, where she was dealing with the
corporate taxation aspect in the operational services. Prior to
that, she enrolled in an 18-month executive training programme
in taxation at the Moroccan Tax Administration Training Centre.
Ms. Naoum graduated from the Institut National de Statistique
et d’Economie Appliquée in Morocco with a Masters of
Engineering degree in Operations Research and Strategic
Management. In 2014, Ms. Naoum successfully concluded the
advanced LLM program in International Taxation at the
University of Leiden, the Netherlands.
Monia is one of the instructors for the principles of international
taxation, transfer pricing, and oil, gas and mining taxation
modules.
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Carlos Gutiérrez
Carlos is a Principal Research Associate at the IBFD Knowledge
Centre. Mr Gutiérrez obtained his law degree at the University of
Chile and a master’s degree (LLM) at Queen Mary College,
University of London.
Prior to joining IBFD, he was a legal adviser with the
International Legislation Department of the tax authority of Chile
(SII), responsible for tax treaty negotiation and interpretation,
and for drafting direct tax legislation.
He has represented IBFD at various seminars and conferences,
and he has regularly taught for IBFD International Tax Training in
open courses as well as tailored in-house courses for
governments and advisory firms in different countries. He also
taught International Tax Law in the international LLM
programme of the Vrije Universiteit Amsterdam.
Carlos is one of the instructors for the principles of international
taxation, transfer pricing, and oil, gas and mining taxation
modules.
Lydia Ogazón
Lydia is a Senior Research Associate at IBFD's Africa, Middle East
and Latin America Knowledge Group. At IBFD, she is the country
specialist for Mexico and other Latin American countries. She is
responsible for various IBFD publications involving those
countries and regularly participates in cross-border taxation
research projects and client requests.
Before joining IBFD, Ms. Ogazón worked for over 12 years for the
International Tax Treaties Unit of the Ministry of Finance in
Mexico and the Group Taxation Unit within the same Ministry.
She was a member of the Mexican delegation for the negotiation
of double tax treaties and tax information exchange agreements
and the Mexican Substitute Delegate to the OECD Working Party
6 on the Taxation of Multinational Enterprises and the OECD
Forum on Harmful Tax Practices. Prior to joining the Ministry of
Finance, Ms. Ogazón worked for E&Y Mexico as a tax adviser and
auditor.
Ms. Ogazón is a member of the Mexican College of Public
Accountants. She is a certified public accountant with a Public
Accounting bachelor’s degree from the Instituto Politécnico
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Nacional of Mexico and a Diploma in International Taxation from
the Instituto Tecnológico Autónomo of Mexico – Duke University.
Lydia is one of the instructors for the principles of international
taxation and transfer pricing modules.
Monica Montes
Monica is a Research Associate at IBFD Knowledge Center Africa, Middle East and Latin America Knowledge Group. She
joined IBFD in 2013, after having successfully completed her LLM
in International and European Tax Law at Maastricht University
(the Netherlands).
Previously, she worked for the Telefonica Group in Peru,
supporting its tax direction regarding the tax for non-residents
and the application of double tax treaties for compliance and tax
planning. Before that, she worked in the tax law practice of
several law firms dealing with local and international clients and
as a professor’s assistant for the Tax Code course at the
Postgraduate Programme of Taxation at the University of Lima.
Ms. Montes is a member of the Bar of lawyers in Lima. She
graduated in Law at the Pontifica Universidad Católica del Peru
and complemented her tax law career with several accounting
courses at the Business & Management faculty of the same
university.
Monica is one of the instructors for the principles of international
taxation and transfer pricing modules.
Anapaula Trindade Marinho
Anapaula is a researcher for the IBFD Africa, Middle East and
Latin America Knowledge Group. She has been working for IBFD
since 2011, after 8 years of teaching at the Sorbonne University
(Paris 1). Her key areas of specialization are Individual and
Corporate Taxation, oil and minerals taxation, Comparative and
International Tax Law.
At the IBFD, Ms. Trindade is responsible for a portfolio of 10
African countries. She is also part of the researchers working on
client research, governmental consultancy and instructor of tax
officials on international taxation and transfer pricing.
20
Ms. Trindade is also a lecturer on tax reform in Africa and Latin
America and French tax law at the University of Economics of
Paris Dauphine (Paris 9 – France). She has a DEA (Diplome
d’Etudes Approfondies) /Master 2 on Tax Law from the University
Panthéon-Sorbonne (Paris 1) that she concluded successfully
(Major of the promotion). Ms. Trindade is currently also working
on the finalization of her post doctoral degree on International
Tax Law at the University Panthéon-Sorbonne (Paris 1) and has
published several articles on domestic and international tax law
in prestigious reviews and books. Ms. Trindade is fluent in French,
English, Portuguese, Spanish and Italian.
Emily Muyaa
Ms. Muyaa is a Research Associate in the Africa, Middle East and
Latin America Knowledge Group at IBFD Amsterdam. She is a
country specialist of a set of English speaking countries in Africa.
Emily regularly participates in cross-border taxation research
projects and client requests in addition to being responsible for
various publications and other tax content relating to the said
African countries.
Before joining IBFD in 2014, Ms. Muyaa worked in the Transfer
Pricing Division of the Large Taxpayers Office at the Kenya
Revenue Authority. She holds a certificate in tax administration
from the Kenya Revenue Authority Training Institute for various
tax heads; VAT, Income Tax, Customs and transfer pricing.
Ms. Muyaa holds an undergraduate degree in law from the
University of Nairobi, a postgraduate diploma in law from the
Kenya School of Law and an LLM in international taxation from
the International Tax Center of the Leiden University in the
Netherlands.
Ms. Muyaa also holds an advanced diploma in accounting and
business from the Association of Chartered Certified Accountants
(ACCA). She is an advocate of the High Court of Kenya and a
member of the Law Society of Kenya.
Ms. Muyaa is one of the instructors for the principles of
international taxation, transfer pricing and oil, gas and mining
taxation modules.
21
Introducing the
Centre for Petroleum and Mineral Law Research
Centre for Petroleum and Mineral Law Research at Auta – Balefi, Km 26, Abuja – Keffi Expressway, Nasarawa State, Nigeria
 International Advisory Board
In compliance with its Articles of Association which prescribes a seven (7) members’
International Advisory Board, CPMLR have accordingly appointed a multi-disciplinary nine
members’ International Advisory Board who all have extensive international development
experience and are highly experienced administrators, strategic planners, international oil,
gas, solid mineral, renewable energy, transactional and tax advisory lawyers and experts.
Our International Advisory Board provides strategic guidance and governance oversight.
The members of CPMLR’s International Advisory Board are:
Professor Keith Engel
- South Africa
Mr. Mark Dike
- Nigeria
Mr. Dionisio Manuel Da Fonseca
- Angola
Dr. Thomas Kojo Stephens
- Ghana
Mr. Ahmed Yabo
- Nigeria
Ms .Belema Obuoforibo
- Nigeria
Dr. Perisuo Dema
- Nigeria
22
 Honorary Fellows
Election as an Honorary Fellow of CMPLR is the highest honour the Centre can confer.
CPMLR recognizes distinguished jurists and petroleum industry experts whose work and /
or scholarship has shaped the broad discipline of the investment, legal and fiscal aspects of
upstream petroleum, solid mineral and electricity and influenced the work of others.
To honour the contributions of such extraordinary individuals, CMPLR has created the
designation of Honorary Fellows in order to recognise those who have made outstanding
contributions to development of the standards the CPMLR subscribes to.
 The key facilities in the start – off complex of the CPMLR include:
 Conference Hall (40 feet [ft] x 16 ft)
 Seminar Room (21ft x 21ft)
 Lecture Room ( 26.7 ft x 11.4 ft)
 Reading / E – Library and Web Portal -
CPMLR has a reading library spanning a space of 18.10ft x 15.2 ft. The reading library
contains printed copies of leading and authoritative books, journals and other publications
on the modules covered in the various courses of the Centre. The library also provides
online e-library and web portal services.
 Canteen ( 20.8 ft x 9.5 ft)
 Five [5] offices for academic and non-academic staff
 Government and Regulatory Authorities’ Approval as Training Institute
The CPMLR is approved by the Federal Ministry of Education of Nigeria vide reference
number: FME/TED/A&E/ANPD/XLII/T/164 to conduct courses in oil, gas and solid
minerals management, law, taxation and finance and to accordingly award an African
Fellowship Programme (AFP) Qualifying Certificate.
 Provision of training in International Taxation and Cross – Border Taxation
CPMLR is collaborating with the Amsterdam based International Bureau of Fiscal
Documentation (IBFD) to conduct specialized training on all aspects of international
23
taxation for all West Africa based tax practitioners and executives whose duties are
impacted by international taxation.
IBFD shall with the logistic support of CPMLR thus conduct training courses tailor made
for ECOWAS countries from the facilities as provided by CPMLR.
 Executive Training
As part of its executive training, CPMLR shall also conduct short courses spanning one day
to one week on any subject matter within the Centre’s focal areas – trans-national economic
cooperation, trans – national dispute resolution, legal, policy, tax, project finance,
investment and supply chain management issues relating to oil, gas, solid mineral and
renewable energy.
24
EVENTS
Previous Events
In September 2010, the Centre for Petroleum and Mineral Law Research conducted the
first ever Petroleum Contracts Administration and Upstream Tax Workshop for Judicial
Officers and Lawyers in Nigeria
FACULTY
Ifueko Omoigui – Okauru
Dr. Bayo Adaralegbe
Tunde Aribido
Gbenga Biobaku
Kofo Dosekun
Professor Yinka Omorogbe
Bede Nwete
Dr.Mark Igiehon
Uche Nwokedi, SAN
Theo Emuwa
25
PARTICIPANTS
Special Representative of Federal Attorney
General and Minister for Justice
Honourable Judge from the High
Court of the Federal Capital Territory
Lawyers from the Nigerian National
Petroleum Corporation (NNPC)
Lawyers and investment advisers from Shell Petroleum
Lawyer from First Bank PLC
Honourable Judges from the Federal High Court
Honourable Judge from
the High Court of Bayelsa State
Lawyer from Century Energy Limited
Officials from Exxon Mobil
Lawyers from Diamond Bank PLC
26
Contact Us
Email: perisuo.dema@bazeuniversity.edu.ng
Tel: (234) 809 811 3714
27
AFRICA FELLOWSHIP PROGRAMME (AFP)
IN
ENERGY FISCAL VALUATION,
CONTRACT ADMINISTRATION AND
TAX MANAGEMENT
lectures holding
@
Course Outline and Codes of Modules
28
DESCRIPTION OF COURSES AND CONTACT HOURS
The total number of contact hours for the programme is one hundred and eighty (180)
hours.
It is important to state that each of the modules of our Africa Fellowship Programme can
be taken as stand-alone short courses by persons who are not interested in graduating with
our Africa Fellowship Programme and which brief period of training would count as
Continuing Professional Development (CPD) hours of the Chartered Institute of Taxation
and the Nigerian Bar Association, depending on whether the module is approved as a
Continuing Professional Education (CPE) by either of the two professional bodies.
The details of the modules and the time allotment(s) are as follows:
Course Codes, Aim, Outline and the contact hours of the various courses
AFP 100: Legal Ownership and Energy Security of Natural Resources Production in the
Africa
a.
AIM
The aim of this module is to introduce students to legal, legacy and contemporary issues
pertaining to the ownership of natural resources in Africa and how these legacy issues have
affected the development of the natural resources in the continent as well as the continent’s
long term strategic interests vis-à-vis the tripartite (English, Portuguese and French)
trajectory of the continent.
An understanding of these fundamental issues would give the student a good foothold on
the Africa Fellowship Programme and its prospects as Africa pursues her energy security.
b.
CONTACT HOURS (NINE HOURS)
This module is divided into three parts of three hours each on two different days: the
political economy aspect and the energy security aspect.
29
AFP 101: Contemporary Tax Policy and Regulatory Matters
a. AIM
This module shall acquaint students with the evolution and objective of the tax system in
Nigeria,
Features
of
a
Good
Tax
System,
general
system
of
tax administration, problems and prospects, tax laws, administration of
income tax, value added tax, capital gains tax, petroleum profit tax, the
structure and functions of tax authorities at federal and state levels,
joint tax board, the theory of economic stabilization and impact of fiscal
policy; while the second three hours of the module shall acquaint students with the
interrelationship between stakeholders in the development of a good
tax system, The role of stakeholders in developing a good Tax culture in
Nigeria, Funding of the Tax and Revenue Authorities, Tax Refund Mechanism.
Periodic Review of existing Tax laws, Coordination of Tax Authorities by
the Joint Tax Board, Tax Appeal Process and using tax system as a tool in
creating competitive advantage as well as the issue of tax incentives.
b.
CONTACT HOURS (TWELVE HOURS)
This module is divided into two parts of six hours each on two different days.
AFP 102: Double Tax Agreements, Tax Information Agreements and Bilateral Investment
Treaties and Regional Economic Cooperation Agreements and their impact on Source
Rules versus the Resident Rules in negotiating Oil, Gas, Solid Mineral and Electricity
Production, Turn- key Service Contracts and Offshore Rig Hire Contracts in Africa
a.
AIM
The aim of this module is to provide the student with a good understanding of international
tax treaties, tax information agreements and bilateral investment treaties as well as their
impact on oil, gas and solid minerals production as well as electricity generation and turnkey projects as well as the legal and fiscal regimes for offshore rig hire in African countries.
30
The course would involve training on tax treatment of turn-key contracts by non-resident
international staff as well as the taxability of the online role through the internet by a nonresident expert in a particular foreign country.
Students would be exposed to the taxing regime for extractive industry production
operations under the Source Rules and also under Resident Rules.
b.
CONTACT HOURS (TWELVE HOURS)
The total number of contact hours is twelve hours divided into three different days.
AFP 103: Concessions, Licensing and other Production Contractual Issues in the Africa’s
Extractive Field Development
a.
AIM
The aim of this module is to strengthen the students’ capacity to effectively negotiate and
draft robust terms in oil and gas upstream operatorship and lease agreements under
concessionary, licensing and/or production sharing agreements.
The essence of the module is also to ensure that upon completion of study, students would
be able to effectively negotiate and draft clauses for Joint Operating Agreements, Sole Risk
Agreements and Technical Service Agreements for petroleum concessions and other
extractive industry licencing and production contracts to the benefit of their clients.
Students shall also acquire the negotiation and drafting skills for the bidding and auctioning
of oil, gas and solid minerals acreages under licencing and concessionary legal frameworks,
while taking into cognisance due diligence and fiscal issues when negotiating such
transactions.
Students shall also be exposed to the issues of Ministerial Consent and Back – In Rights
under the Petroleum Act.
b.
CONTACT HOURS (NINE HOURS)
The contact time for this module is nine hours divided into two days of three hours each.
31
AFP 104: Unitisation, Cross Unitisation, Cross Border and Joint Development Zone
Transactions for Petroleum, Solid Mineral and Electricity Production in Africa: Legal and
Tax Issues
a.
AIM
The aim of this module is to acquaint students with legal as well as tax royalty issues
pertaining to petroleum production in cross border, unitised, cross unitised as well as
joint development zones which have been established as a result of straddling oil and
gas fields.
The module shall also treat the legal and tax treatment of solid minerals production
and electricity generation from straddling hydro-power generation areas.
b.
CONTACT HOURS (NINE HOURS)
This module shall be delivered in three days i.e. nine hours.
AFP 105: Legal and Tax Issues on Decommissioning, Restoration and Abandonment of
Petroleum, Solid Mineral and Electric Generation Facilities for in Africa, including
provisions for Tax Deductibility
a.
AIM
This module shall expose students to the legal issues pertaining to decommissioning,
restoration and abandonment of offshore petroleum and electricity generation
facilities as well as the legacy issues in cases where the licensing and / or operatorship
of an acreage has been transferred without any expressed commitment for
decommissioning, restoration or abandonment.
It shall treat the issues of obtaining the approval of the respective Minister(s) and
government departments concerned with decommissioning, restoration and
abandonment.
32
It shall also treat the issues of the setting up of a ring fenced fund in an escrow for the
decommissioning, restoration and abandonment process as well as the desirability for
a suiting fund as well as the ancillary tax treatment and cost issues.
Students shall also be exposed to processes for decommissioning, restoration and
abandonment in matured provinces such as the United Kingdom Continental Shelf.
b.
CONTACT HOURS (TWELVE HOURS)
This module shall be divided into two parts (the first part on decommissioning,
restoration and abandonment of petroleum production facilities shall be delivered on
the first two days i.e. first six hours); while the second part (on decommissioning,
restoration and abandonment of electric generation facilities shall be delivered in the
second six hours on the third and fourth days).
AFP 106: Decommissioning, Restoration and Abandonment of Petroleum and Solid
Mineral Facilities for Tax Deductibility: Legal Framework and Fiscal Modeling
a.
AIM
This module shall educate students on the process, economic, costs, tax and legal issues
pertaining to the decommissioning, restoration and abandonment of solid minerals in Africa
as well as the ancillary environmental issues.
b.
CONTACT HOURS (SIX HOURS)
This module shall be delivered in six hours, i.e. two days.
AFP 107: Valuation of Petroleum Reserves in Africa
a.
AIM
This module shall introduce the students to the methodologies for econometrics and
forecasting of asset valuation of reserves of petroleum and solid minerals such as fair
market value, probability and risk as well as risk adjustment in valuing petroleum
assets, consideration of the portfolio approach to assets management, portfolio
33
optimisation techniques, Monte Carlo simulation techniques, investment decision
analysis and simulation techniques.
The essence of the module is to ensure that students acquire the techniques to
determine the potential, probable and proven reserves of petroleum and solid
minerals as well as determining the value-to-loan, Expected Present Value (EPV) and
the Net Present Value (NPV) of reserves in a petroleum or solid mineral acreage with
a view to ascertaining its volumetric production payments prospects while considering
the underlying legal issues.
b.
CONTACT HOURS (TWELVE HOURS)
Since this module is divided into two sections, the first section being on the principles
and techniques for determining the reserve base of an oil or solid mineral well, it is
earmarked for two full days i.e. six hours; while the second part, which deals with
volumetric production payments, is for the third and fourth days i.e. another six
hours.
AFP 108: Transfer Pricing of Petroleum, Solid Mineral and Electricity Production: Impact
on Supply of Technical Expertise and Services as well as Tax Base Erosion in Africa
a.
AIM
This module shall introduce students to the issues of inter-related, inter-group,
subsidiary and affiliate companies and the Arms-Length Principle generally and as it
applies to oil, gas, mining and electricity companies with worldwide operations and
their international staff who are frequently called upon to role in diverse regions.
This module shall also review the OECD Rules and the UN Rules as it affects
transfer pricing as well as the legal and tax issues that can militate against the
operations of robust transfer pricing rules that can effectively drive petroleum
34
production by multinational petroleum producers and operators shall also be
considered by the students.
b.
CONTACT HOURS (TWELVE HOURS)
This module is divided into two sections.
AFP 109: Tax Treatment of Petroleum Licence Areas during exploration, prospecting,
development and production
a.
AIM
This module shall introduce students to the tax treatment of petroleum licence areas
from their exploration, prospecting, development and production stages.
The module shall specifically introduce the students to the procedure and processes
for the taxability of upstream petroleum joint ventures and production sharing
contracts as well as the issue of ring fencing of petroleum acreages.
The module shall also discuss the processes in several jurisdictions within Africa and
how they vary from country-to-country. Students shall make presentations on the
specifications in their country.
b.
CONTACT HOURS (SIX HOURS)
The module shall be delivered in two classes of three hours each. This shall include
the time used for presentations on country-to-country variations.
AFP 110: Taxation of Hydrocarbon as well as Corporate Entities involved in Petroleum
Production; Petroleum Operations under Concessions, Joint Ventures, Production Sharing
Contracts, Sole Risk Agreements and Petroleum Production in the Deep Offshore,
Offshore, Onshore and in Marginal Fields and the associated allowances, allowable
deductions, ring fencing and royalty issues
35
a.
AIM
This module shall introduce students to emerging regulatory regimes for the distinct
taxation of hydrocarbon as well as the distinct taxation of corporate operations of
petroleum producing companies in Africa.
Hitherto, in some tax regimes in Africa, companies involved in upstream petroleum
production were not expected to be assessed distinctly for company income tax,
however, under some emerging regimes they are statutorily required to pay company
income tax. This issue shall be reviewed under this module.
The module shall also treat the taxation of petroleum operations, by discussing its
statutory meaning under Concessionary, Joint Venture, Production Sharing Contract
and Sole Risk legal regimes.
The module shall also expose students to the tax structure for deep offshore,
offshore, onshore and marginal field production regimes. It shall also treat the tax
allowances, allowable tax deductions and royalty regimes under the above production
contract types.
b.
CONTACT HOURS (TWELVE HOURS)
This module shall be delivered in four classes of three hours each.
AFP 111: Gas Flare, Gas Re-injection, Gas - to - Liquid, Liquefied Natural Gas and Gas –to
- Power Projects : Contractual, Regulatory and Tax Issues
a.
AIM
This module shall introduce students to the issue of gas flares and gas related
environmental issues in Africa. It shall further expose students to fiscal incentives for
gas re-injection as well as the contractual issues pertaining to Gas-to-Liquid, Liquefied
Natural Gas and Gas-to-Power projects and the issue of ownership and off-takers of
36
gas as well as the statutory role of the gas aggregator in several African gas
jurisdictions.
b.
CONTACT HOURS (SIX HOURS)
This module shall be delivered in six hours i.e. two days.
AFP 112: Taxation of Solid Minerals Production and the investment incentives, tax
allowances, allowable tax deductions and royalty issues
a.
AIM
The aim of this module is to introduce students to the fiscal regime for the mining and the
incentives for beneficiation of solid minerals in Africa.
The module shall further introduce students to the differential fiscal regimes for mining of
strategic economic minerals as distinct from luxury minerals in certain solid mineral
jurisdictions.
The module shall additionally expose students to the investment incentives, tax allowances,
allowable tax deductions and royalty regimes for gas development in comparative African
jurisdictions.
[[[[[[
b.
CONTACT HOURS (NINE HOURS)
This module shall be delivered in three classes of three hours each.
AFP 113: Taxation of Electricity and the ancillary investment incentives, tax allowances,
allowable tax deductions and royalty issues
a.
AIM
This module shall introduce students to the fiscal regime for electricity generation and
distribution in comparative African regimes and the impact of the fiscal regime on the
statutory role of the electricity aggregator as well as on the tariff for electricity.
37
The module shall also expose students to investment incentives, fiscal allowances, allowable
fiscal deductions and royalty issues in several jurisdictions in Africa such as South Africa and
Ghana.
b.
CONTACT HOURS (SIX HOURS)
This module shall be delivered in six hours i.e. two days.
AFP 114 : Investment Structuring for Petroleum, Mining and Electricity in Africa: Legal
and Tax Framework for Private Equity, Venture Capital, Derivatives, Hedge Funds, BuyOuts, Carried Interest Schemes
a.
AIM
This module shall introduce students to investment structuring that can be used for
petroleum production, solid mineral mining and electricity generation in Africa.
The module shall exhaustively treat the legal as well as fiscal regime for the afore-stated
investment structures in South Africa as a best practice for consideration by other African
countries.
b.
CONTACT HOURS (NINE HOURS)
In view of the number of investment structures and the need to exhaustively discuss them,
with comparative examples, the module shall be delivered in nine hours i.e. three days.
AFP 115: Farm - In, Farm – Out, Acreage Transfer, Mergers and Acquisitions for
Petroleum, Mining and Electricity Production and its ancillary legal framework for tax
allowances, allowable tax deductions and royalty issues in Africa
a.
AIM
The aim of this module is to introduce students to the legal framework for petroleum
production, mining and electricity projects that require any of the afore-stated contractual
financing modes as well as the legacy issues pertaining to tax and legal title that may arise.
38
b.
CONTACT HOURS (NINE HOURS)
In order to effectively treat the module, it shall be delivered in nine hours i.e. three days.
AFP 116: Legal Framework for Petroleum, Mining and Electricity Project Finance (Debt
Finance [Loans, Production Sharing, Modified Carry Arrangements], Mezzanine Finance,
Corporate Bonds, Swaps, Securitization, Reserve Based Finance and Sukuk) in Africa.
a.
AIM
This module shall expose students to the above contemporary and alternative structures for
the funding of petroleum production, solid mineral mining and electricity in Africa. It is
expected that at the end of the module, as well as all other modules, students would have
acquired the required training in the subject matter(s).
b.
CONTACT HOURS (NINE HOURS)
In view of the complexities of this module, students shall be taught over a period of nine
hours i.e. three days.
AFP 117: Arbitration of Petroleum, Mining and Electricity Contract Administration:
Appraisal of the UNICITRAL Arbitration Rules, 2010 as well as the New York Convention
on the recognition and Enforcement of Foreign Arbitral Awards vis-à-vis the arbitration
legislations in African sample countries as it pertains to Petroleum and Solid Mineral
Mining Production and Electricity Generation as well as the impact of several national
legislations and how Pacta Sunt Servanda may be affected by Rebus Sic Stantibus in such
transactions.
a. AIM
This module will therefore use case law such as the Tullow Case in Uganda, the IPCO
and Agip Arbitrations in Nigeria to address the complex issues raised by investor-state
arbitration, and in particular will address these issues in the context of disputes in the
natural resources sector. Over a quarter of all investor-state arbitrations commenced in
2013 alone arose out of tax disputes related to oil, gas and mining projects such as in
39
Uganda and Nigeria. With the continued importance of natural resource exploitation
to the wealth of many states, particularly in Africa, and a resurgence of resource
nationalism in parts of the world, it is not unexpected that related disputes with foreign
investors continue to figure prominently in investment treaty arbitration.
b.
CONTACT HOURS (SIX HOURS)
This module shall be delivered in six hours i.e. two days.
AFP 118: Managing Innovation and Transformation in Africa’s Growing Businesses: Legal
and Tax Issues
a. AIM
b.
CONTACT HOURS (SIX HOURS)
This module shall be delivered in six hours i.e. two days.
AFP 119: SUPERVISED ESSAY
a. AIM
Each student shall write a supervised essay of a minimum of four thousand, nine
hundred (4,900) and a maximum of five thousand (5,000) words in double line, Times
Roman. The word limit shall include footnotes. The topic of the essay must have been
approved before commencement of the writing by the Registry.
b. CONTACT HOURS (TWELVE HOURS)
c. This module shall entail a cumulative time of twelve hours of students contact with
their respective supervisors.
40