Expertise
The Bill particularly provides that all franchise agreements between Nigerian franchisees and their franchisors shall incorporate standard provisions in line with international best practices. The Bill further seeks to guide the relationship between franchisors and franchisees and establishes a franchise system geared towards the overall enhancement of economic development in Nigeria.
“On Tuesday, the 24th of January 2023, the Senate passed the Franchising (Establishment)Bill. The Bill seeks to create a legal framework for the operation of franchising (and other related matters) in Nigeria, in line with global best practices.”
The Bill particularly provides that all franchise agreements between Nigerian franchisees and their franchisors shall incorporate standard provisions in line with international best practices. The Bill further seeks to guide the relationship between franchisors and franchisees and establishes a franchise system geared towards the overall enhancement of economic development in Nigeria.
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