Prior to the enactment of the Companies and Allied Matters Act 20202 (CAMA) in August 2020, the generally available business vehicles under Nigerian regulatory framework3 were: limited liability companies (LLCs) and unlimited companies (UCs);4 sole proprietorships (SPs);5 and partnerships.6 Only Lagos State which hosts Nigeria’s premier economic hub, offered Limited Partnership (LP) and Limited Liability Partnership (LLP) options, triggering remarks then, on need for “regulatory competition” in Nigeria’s federal context.7 CAMA’s provisions on LPs and LLPs have now ‘suspended’ or displaced (except to the extent of any lacuna in CAMA provisions), the Lagos State Partnership Law (LSPL), given the applicability of the former throughout the country.8 We are not aware if a comparative review of the LSPL relative to CAMA, in order to confirm whether CAMA being later in time, recorded improvements over the LSPL
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