There are usually no restrictions on the project sponsor's or the lenders' right to terminate the contract in the event of the contractor's bankruptcy or insolvency, unless otherwise stated in the contract. Change in law risk. In this revision, the starting band was increased from N250,000.00 to N5 Million. Typically, third parties and end users are not parties to the construction contract(s) and cannot enforce an action for breach against the contractors for the designs and construction. The insurance must have a value that is at least three times the total annual emoluments of all the employees. 40 days after execution of the instrument, where an instrument is liable to stamp duty at a nominal rate. The PPA contains detailed provisions in respect of the procurement process, including the principles, planning, implementation and general conduct of public procurement. In some cases, a project company may procure a single project insurance package and by virtue of the project agreements, share the benefit of the insurance cover with different project service providers. Other regulations and guidelines which also govern environmental issues in specific sectors in Nigeria include: National Environmental (Construction Sector) Regulations, SI No. National Environmental (Standards for Telecommunications and Broadcast Facilities) Regulations, SI No. The Employee Compensation Act 2010 established the Employees' Compensation Fund (Fund) and requires every employer to make a minimum monthly contribution of 1% of its total monthly payroll into the Fund. There are usually no restrictions on the client's right to terminate the contract in the event of the contractor's bankruptcy or insolvency, unless otherwise stated in the contract. This paper concerns an investigation into the causes of high costs of construction in Nigeria. 23, 2011. Legal or equitable mortgage on all of the project company's interest in the project site, land and buildings and fixed plant and machinery. Advised Renewable Energy Performance Platform (REPP) and Camco Clean Energy on the management buy-out of Pas Solar Limited and its Nigerian subsidiary, Pas BBoXX limited, solar energy companies providing off-grid electricity to customers. Covenants, representations and warranties. The Nigerian Institute of Architects (NIA) was founded in 1960 as an association of. An arbitral award is both binding and enforceable by Nigerian courts. Introduced policies aimed at improving rural electrification through the Rural Electrification Strategy and Implementation Plan (RESIP), under which the Board of the Rural Electrification Agency (REA) Board was constituted. Advised a syndicate of lenders in connection with the amendments to, and increase in the size of a loan of approximately USD530 million to Shoreline Natural Energy Resources Limited, a Nigerian oil and gas exploration and production company. Where the dispute relates to the construction project itself, it is the high court of the state where the asset is located that would have jurisdiction over the dispute. The Nigerian Institute of Architects (NIA) was founded in 1960 as an association of. Percentage Fee Scales 4.4. Professional fees in building projects Structural engineering fees Rp200,000 to Rp 300,000 per square metre MEP (mechanical, electrical and plumbing) design fees Rp120,000 per square metre Quantity Surveyors fees Rp60,000 per square metre Professional bodies are formed as an association of professionals which enhance, control, and regulate the activities of its members. Other debt funding arrangements include overdraft facility, revolving credit facility, debt capital markets and letters of credit. ICLG - Construction & Engineering Laws and Regulations - Nigeria Chapter covers common issues in construction & engineering laws and regulations including making construction projects, supervising construction contracts, and dispute resolution. f) PSGS 6: Letting/Real Estate Brokerage/Agency. The Nigerian Institute of Architects (NIA) was founded in 1960 as an association of. However, where the owner of the land disposes of it, any gains realised will be liable to capital gains tax at 10%. In July 2012, the Central Bank of Nigeria issued the Sustainable Banking Principles under which banks and other financial institutions undertook to integrate environmental and social considerations into business decision making. ICLG - Construction & Engineering Laws and Regulations - Nigeria Chapter covers common issues in construction & engineering laws and regulations including making construction projects, supervising construction contracts, and dispute resolution. The outline business case contains information on the proposed structure of the project, the procurement process for awarding the contract as well as the resources to be used in implementing the project. Another right of the client is to take physical possession of and secure the site. The ICRC Act provides for the invitation of open competitive bids which must be published in at least three national newspapers having wide circulation in Nigeria. The EIA Act specifies different types of projects in respect of which a mandatory study must be conducted. Any premises used or to be used as a factory must be registered with the director of factories (, If any person is killed or dies or suffers any bodily injury because of a contravention of the Factories Act, the occupier or owner of the factory is liable to a fine of up to NGN5,000 and imprisonment for up to two years (. WebFind pre-contract professional fees 5% of construction cost = R$108,875 (R$2,000,000.00 to R$4,000,000.00 Range) Contract Value/Building Gross Floor Area = 2,177,500.00/347m2 = R$6275.22 per m2 Pre-contract professional fees 5% of R$6275.22 = R$313.76 per m2 of gross floor area Stage A 7.5% of R$313.76 = R$23.53 per m2 Table of Professional Charges 4.5. The Constitution also creates the Federal High Court with jurisdiction over specific subject matter. WebProposed Level of IT Professional fee for Projects CHAPTER FOUR: Method of Determining Remuneration 4.1. Contracts for the KanoJibia and Port Harcourtaiduguri lines were confirmed by the Federal Executive Council. The project contract usually contains provisions that require payment to be made for the demobilisation and repatriation of foreign personnel to their home countries. In 2020, the FGN issued a NGN162.5 billion (about USD393.4 million). In relation to construction professionals, each profession usually has a scale of professional fees which is applied to calculate the fees payable to the professional for the services provided on the project. Where the assets to be used in a construction project are liable to VAT, the purchaser must pay VAT on the consideration payable for such assets at the rate of 7.5%. The High Court Rules of the various states, including the Federal Capital Territory Abuja, and other statutes, contain extensive provisions on the jurisdiction of each court in Nigeria. If this applies, any gains realised from the disposal of the asset will not be subject to capital gains tax but the company will be entitled to claim a roll-over relief if the new asset is acquired, or an unconditional contract for the acquisition is entered into, within 12 months before or after, the disposal of the old asset. (. Some Nigerian construction contracts permit the owner to request the contractor to alter the works and services (or any part of them) through change orders, change requests, and change notices. 2.50% Balance 1 Percent of General Construction Total General Construction Estimate = $50,000,000 25% of Total General Construction = MEP Portion of the Construction = $12,500,000 MEP Design Fee: as Percentage of the MEP Construction (4%): Design Fee = $12,500,000 x 4% = $500,000 as Percentage of General Construction (25% x 4% = 1%): WebLowe (2003) further stated that the value added of construction is in the range of 7% to 10% for highly developed economies and around 3% to 6% for underdeveloped economies. This law is expected to provide a much-needed overhaul of the Nigeria's oil and gas sector, thereby creating multiplier effects across the entire construction chain and the economy. The EFCC Act provides different punishments for different offences, including a term of imprisonment of three years or more and a fine equivalent to the value of the proceeds of the crime or both where a person commits an offence of concealing, removing from Nigeria or transferring to nominees, the proceeds of an economic and financial crime. N60m (estimated project cost) multiplied by a minimum of 7.5% (scale of fees for new projects). Strengthening the sector's institutional framework and increasing transparency. The funders may decide to call for the performance bond or take out the parent company guarantee provided by the contractor where such exists. There are no prescribed methods of payment for construction work in Nigeria, as a result, the payment method to be adopted is usually a subject of negotiation between the parties and can be influenced by the nature of the project. Construction projects are generally not exempt from VAT, and are liable to VAT at 7.5%. The NESREA has primary responsibility of enforcing compliance with laws, guidelines, policies and standards on environmental matters in Nigeria, such as water quality, noise, ozone protection, air and atmospheric protection and has issued various regulations on compliance requirements. WebFor a contract based on Bills of Quantities (BOQ), the total fees are apportioned in the following manner: Service A (Estimating & Cost Advice Stage) 7.5% Service B (Documentation Stage) 42.5% Service C (Contract Administration Stage) 30% Service D (Final Account Stage) 20% Provisional BOQ Contract: Construction contracts typically include caps on liability. 1 Percent of General Construction Total General Construction Estimate = $50,000,000 25% of Total General Construction = MEP Portion of the Construction = $12,500,000 MEP Design Fee: as Percentage of the MEP Construction (4%): Design Fee = $12,500,000 x 4% = $500,000 as Percentage of General Construction (25% x 4% = 1%): The contractual provisions typically negotiated to cover material delays include all or any of the following: Submission of a revised programme setting out the execution of the project. In January 2021, the FGN signed a Memorandum of Understanding with a Portuguese construction firm Mota-Engil for the construction of the cross-border Kano-Maradi rail line which has an estimated construction cost of USD1.96 billion. Key member of the team that advised Stanbic IBTC Bank PLC, as Lender's counsel, with respect to an USD11.3 million medium term loan facility advanced for the refinancing of a residential real estate development in Durunmi, Abuja. The transaction, which is valued at USD311.2 million, involved the sale of three power stations by the Rivers State Government to the investor. With respect to the electric power sector, the NERC has issued: Regulations on National Content Development for the Nigerian Electricity Supply Industry 2013 (National Content Regulations). The main stages are: Selection of projects in each sector to be implemented on a PPP basis by the relevant ministry, department and agency (MDA) charged with the responsibility of regulating that sector. In February 2021, at commissioning of a 1.12 MW Captive Solar Hybrid Power Plant at the Abubakar Tafawa Balewa University, Bauchi which was executed under the Energizing Education Programme (EEP), the FGN stated that Nigeria intends to have 30% of its electricity supply from renewables by the year 2030. The Pension Reform Act 2014 imposes an obligation on employers to obtain life insurance cover for all their employees. Advising Jotna and Engee PET Manufacturing Company Nigeria in connection with the construction and development of a 150,000-metric tonne per annum continuous polymerization polyethylene terephthalate (PET) resin plant in Ogun State, Nigeria. Escrow arrangements whereby contract prices are paid into escrow accounts held by third party banks or financial institutions for release on specified conditions also operate as a form of payment security for the contractor. Cost is a vital element in every development. In most projects, an incentive scheme is built into the contract to reward the contractor if it delivers the project ahead of schedule and on budget. The fact that the employer has given their consent to the delegation of some of the main contractor's obligations to a subcontractor does not, therefore, give rise to any contractual relationship between the employer and the subcontractor and there is no privity of contract between the employer and subcontractor. This is, however, a contractual right and can only be exercised if it is included in the project document. Although there are no specific tax incentives for infrastructure projects in Nigeria, there are incentives that cut across all sectors of the Nigerian economy. In this revision, the starting band was increased from N250,000.00 to N5 Million. A change request will trigger an obligation on the contractor to submit a proposal describing how it will implement the requested change, together with any adjustments to the project timetable and fees payable as a result of such change. Table of Professional Charges 4.5. Current notable major projects include the: Lagos-Ibadan standard gauge railway to connect Lagos State to Ibadan via Ogun State. The repayment of the loan is structured in accordance with a repayment schedule by way of amortisation, or very rarely, a bullet repayment. In 2019, the Ministry of Works and Housing set aside a total sum of 19.8 billion naira ($55 million) for the construction of 2,383 units of housing across the 36 states of Nigeria under the National Housing Program. Equals N4.5m (architects fee for pre-contract services) Note; ARCON conditions of engagement say that these fees are the minimum that should be charged, therefore, your design circumstances may warrant a little increase in the percentage. Recent projects, including those listed below are all being developed through PPPs. Where an instrument is executed outside Nigeria, stamp duty must be paid within 30 days from the date on which the instrument is first brought into Nigeria. Following the selection process in the case of public sector, a formal notification of appointment is issued to the preferred bidder, following which a formal contract is then negotiated between the government agency and the bidder. Under the terms of the contract, a sub-contractor can suspend work or terminate a sub-contract on a main contractor becoming insolvent. Act) (, Money Laundering Prohibition Act 2011 (as amended) (MLPA). However, by law, parties are unable to cap liability arising from death and personal injury. The Lagos-Ibadan Standard Gauge rail began commercial operations in 2021. WebProposed Level of IT Professional fee for Projects CHAPTER FOUR: Method of Determining Remuneration 4.1. It is uncommon for payment obligations under construction contracts to be secured by land or property. On 16 August 2021, the President signed the long awaited Petroleum Industry Bill into law. The company would also be liable to pay other applicable taxes and to make contributions to various funds such as the industrial training fund, employee compensation fund, and pension fund. Contracts can also include clear definitions of the standard of performance expected and penalties for not meeting the standard. The parties must also ensure that the service is not being carried on illegally and must comply with local content requirements set out in either regulations or executive orders made by the President of Nigeria. The relationships between employers, contractors and subcontractors are typically governed by ordinary principles of contract law. A company can also mitigate its capital gains tax exposure by using any available roll-over reliefs, which apply if a business asset is sold and the proceeds used to acquire a new asset (or an interest in a new asset) to be used for trade. Although a subcontract is derived from the main contract, it is a stand-alone contract creating contractual rights and obligations strictly between the parties to it. An employer that breaches the Construction Law commits an offence and on conviction is liable for: individuals: a fine of up to NGN100,000 and a term of imprisonment of up to three months; In relation to health, safety and environment in the power sector, the Nigerian Electricity Regulatory Commission (NERC) published the Nigerian Electricity Health and Safety Code, 2014 (Code) and the Nigerian Electricity Health and Safety Standards Manual (Manual). The Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act, 2004 prescribes a penalty of three years imprisonment for similar offences as those immediately above. The health and safety laws applicable to construction projects include the: for an individual offender, a fine of NGN100,000 or imprisonment for up to five years; for a corporate body offender, a fine of between NGN50,000 and NGN1 million. In addition, the foreign nationals being employed must obtain a residence and work permit on entry into Nigeria to enable them to both live and work in Nigeria. However, engineering, procurement and construction contracts typically include a payment schedule. This was intended to: Avoid, minimise or offset the negative impact of their business operations on the environment and local communities in which they operate. Nigeria LNG Train 7 project is an ongoing expansion of the Nigeria LNG Terminal at Bonny Island, Nigeria. Basis of Professional Charges for Consulting Services 4.3. Professional Bodies in Nigerian Construction Industry. These laws require that a formal tender or bid process be undertaken in the selection of construction professionals for public sector projects. It is common for the funder to enter into a direct agreement with project sponsor/company and the contractor that will provide the funders with step-in rights to terminate the project contract with the contractor and appoint a replacement contractor. In the few cases where contracts involving Nigerian parties provide for institutional arbitration, the parties tend to choose local Nigerian arbitration institutions such as the Chartered Institute of Arbitrators (UK) Nigerian Branch or the Lagos Regional Centre for International Commercial Arbitration. 0% if its turnover is less than NGN25,000,000. Representations and warranties (the breach of which could trigger an event of default). Professional Bodies in Nigerian Construction Industry. WebConstruction projects are generally not exempt from VAT, and are liable to VAT at 7.5%. It is usual for parties to agree a period beyond which the contract will be terminated on account of the subsistence of a force majeure event. Under Nigerian Law, certain professionals must have obtained the relevant licences to engage in construction projects: Engineers must be licensed by the Council for the Regulation of Engineering in Nigeria (COREN) under the Engineers (Registration, etc) Act) (, Quantity surveyors must be licensed by the Quantity Surveyors Registration Board of Nigeria under the Quantity Surveyors (Registration, etc.) Standard forms of contracts prepared by the Joint Contract Tribunal (JCT). Where the assets to be used in a construction project are liable to VAT, the purchaser must pay VAT on the consideration payable for such assets at the rate of 7.5%. Provisions are also typically included to the effect that where such change orders will attract additional costs to the overall project cost, the prior approval of the project company must be obtained. The principal feature of the EIA Act is that it specifically requires that any public or private sector project must not be undertaken or started without a determination of its environmental effects. Put and call options (that is, the right of the equity financiers or sponsors to compel the government to repurchase the assets or shares of the project company in the event that the project is expropriated or faces significant local risks). The contractor is, therefore, required to comply with health and safety regulations relating to employees that work in certain areas of the project or that operate certain machinery wearing protective clothing. In 2019, the Ministry of Works and Housing set aside a total sum of 19.8 billion naira ($55 million) for the construction of 2,383 units of housing across the 36 states of Nigeria under the National Housing Program. High debt-servicing costs and low tax revenue also left little scope for fiscal spending and new public projects. However, Nigeria currently builds just 2,000 houses per year. Shareholder loans are also common but are typically subordinated to the senior loans. In relation to projects in the private sector, the process of appointment depends on the internal rules developed by project sponsors. Some contracts also include provisions permitting the contractor to initiate a change proposal where the contractor considers that: A request by the client will have a technical or financial impact on the project. Some of the penalties under Nigerian anti-corruption laws include the following: The Corrupt Practices Act prescribes a penalty of seven years imprisonment for any person who, being a public official: corruptly asks for, receives or attempts to receive or obtains any property or benefit of any kind before or after doing or omitting to do something in an official capacity; gives, confers or procures, or promises or offers to give, confer, procure or attempt to procure, any property or benefit of any kind to or for a public officer, or any other person on account of any act performed in an official capacity. WebCONSULTANCY AGREEMENT & PROFESSIONAL FEES SCHEDULE ARCHITECTURAL CONSULTANCY AGREEMENT 7 In the event that the Architect is required to process the application, the Client shall pay the Architect an additional fee based on a time charge as per Schedule 4.11 and expenses based on cost plus 10% in respect of the processing of such Some of the arbitration rules that can be adopted by the parties to govern their arbitration proceedings include the: Arbitration and Conciliation Act, Cap A18, Law of the Federation of Nigeria 2004 (ACA). Lekki Deep Seaport project is also being developed as a PPP between the federal Government of Nigeria, the Lagos State Government and Tolaram Group. Arbitration is usually adopted as the principal means of dispute resolution in construction projects because it is a fairly a quicker means of resolving dispute and gives room for the disputing parties to select subject matter experts as the arbitrators. Despite the impact of the pandemic that led to a significant decline of construction activities, the industry was forecast to be one of the lead drivers of the Nigerian economy in 2021. For projects in the power sector, turnkey engineering, procurement and construction contracts between the project company and the contractor, continue to be popular, with the project having separate operation and maintenance arrangements. However, there are no rules that are specific to the projects sector as the existing rules apply to every aspect of the Nigerian economy, including construction. In the oil and gas industry, there are also environmental, health and safety requirements in the construction of oil and gas projects, such as depots, which require facilities to meet certain specified requirements. Preliminary EIA to be carried out at the end of the concept selection studies. These laws include the US Foreign Corrupt Practices Act and the United Kingdom Bribery Act, 2010. Advised New Electricity Development Company Ltd on the acquisition of Ikeja Electricity Distribution PLC. The USD11.17 billion Lagos-Calabar coastal standard-gauge line was approved by the Federal Executive Council in August 2021. Where there is a third party with an interest in the project, it is standard practice for the consultants to be required to provide specific collateral warranties in favour of the third party. Percentage Fee Scales 4.4. Time or Duration Based Fees CHAPTER FIVE: Adjustment of Fees 5.1. However, Nigeria currently builds just 2,000 houses per year. The General Conditions of Contract for the procurement of works 2011. A project company is required to obtain expatriate quota approvals for the relevant number of expatriate personnel it intends to employ. At 7.5 % ( scale of Fees 5.1 end of the standard of performance expected and penalties for meeting. Project sponsors bond or take out the parent company guarantee provided by Federal... 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Process of appointment depends on the acquisition of Ikeja Electricity Distribution PLC employers, contractors and are. The contract, a contractual right and can only be exercised if it is included in the sector... Binding and enforceable by Nigerian courts the procurement of works 2011 contractual right can. ( the breach of which could trigger an event of default ) or out... Guarantee provided by the Federal high Court with jurisdiction over specific subject.. Specifies different types of projects in the private sector, the starting band was increased from N250,000.00 to Million. The process of appointment depends on the internal rules developed by project sponsors or bid process be in! Trigger an event of default ) of all the employees costs of construction for! Subordinated to the senior loans ( NIA ) was founded in 1960 as an association of cost multiplied. And subcontractors are typically subordinated to the senior loans the General Conditions of contract for the KanoJibia Port... Operations in 2021 the parent company guarantee provided by the Federal high Court with jurisdiction over specific subject.! Process of appointment depends on the internal rules developed by project sponsors 7.5 % projects respect! Foreign Corrupt Practices Act and the United Kingdom Bribery Act, 2010 the private sector, the starting was... On the acquisition of Ikeja Electricity Distribution PLC also left little scope for fiscal spending and new public.... Vat at 7.5 % ( scale of Fees for new projects ) Port. Include overdraft facility, revolving credit facility, debt capital markets and letters credit! Of which could trigger an event of default ) N5 Million for fiscal spending and new projects... Revision, the FGN issued a NGN162.5 billion ( about USD393.4 Million ) to liability... Physical possession of and secure the site and enforceable by Nigerian courts (! Call for the performance bond or take out the parent company guarantee provided by the Joint contract Tribunal JCT! Typically include a payment schedule under the terms of the standard of performance expected and penalties for meeting! To stamp duty at a nominal rate LNG Terminal at Bonny Island, Nigeria signed the long awaited Industry... An event of default ) contract for the relevant number of expatriate personnel it to... The General Conditions of contract for the relevant number of expatriate personnel it intends to employ of. Line was approved by the Federal Executive Council the KanoJibia and Port Harcourtaiduguri lines were confirmed by the contract. Three times the total annual emoluments of all the employees study must be.. ( Standards for Telecommunications and Broadcast Facilities ) Regulations, SI No with jurisdiction over specific matter. Scope for fiscal spending and new public projects it Professional fee for CHAPTER! 1960 as an association of of Fees 5.1 through PPPs where an instrument is liable to VAT 7.5... Determining Remuneration 4.1 obligation on employers to obtain expatriate quota approvals for the demobilisation and repatriation foreign. Vat, and are liable to VAT at 7.5 % imposes an obligation on employers to obtain expatriate approvals..., revolving credit facility, revolving credit facility, debt capital markets and letters of.! Emoluments of all the employees included in the project document in respect of which a mandatory study must conducted.
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