Most countries are limited by their natural resources and limited production capacity. Therefore, these countries rely on other countries through international trade to get what their population needs and demands. However, international trade is not always conducted in an amenable manner between trading partners. Policies, geopolitics, competition, and many other factors can make trading partners unhappy. Thus, tariffs and taxes are powerful tools that countries use to protect their domestic industries and retaliate against what they perceive as unfair trade practices.

Nigeria’s importance in the Global gas market cannot be overemphasized, one of the factors being that Nigeria is the largest exporter of LNG in the African continent and has a 3.6% share of the world’s LNG exports. As at 2024, the NUPRC, reported that the reserves of associated gas and non-associated gas stands at 102.59 TCF and 106.67 TCF respectively.

The SME Corporate Governance Guidelines introduced by the FRCN has the potential to transform the Nigeria’s MSME sector by enhancing transparency, accountability and performance. By addressing the challenges faced by the MSMEs and promoting good governance practices, the Guidelines can contribute to sustainable economy development.