Dayo Peters

Admitted to the Nigerian Bar, October 2000.

  • Obafemi Awolowo University, Ife, Ile-Ife [BA. Hons. – English Language Studies] 1994;
  • Lagos State University, Ojo, Lagos [LL.B Hons.] 1998.
  • BL.


  • October 2000 – June 2002 – Associate Counsel – STRACHAN PARTNERS [Solicitors & Advocates];
  • June 2002 to June 2007 – Founder member/Senior Associate – ADESANYA & AKISANYA [Barristers, Solicitors and Notary Public];
  • 1st July 2007 to November 2010 – 1st Non-founder Partner/Team Leader, ADESANYA & AKISANYA [Barristers, Solicitors and Notary Public].
  • Managing Partner – ROCKVILLE & CO – 1st December 2010

Dayo has been actively involved in the conception of, and has advised clients (both foreign and local) on, various and diverse commercial relationships including, the establishment of business entities in Nigeria, regulatory and compliance issues, acquisition and divestment of interests, structured financing, documentation and the conduct of extensive corporate investigations.

Dayo has a keen interest in working with indigenous operators towards enhancing their participation in the development of Nigerian Oil Fields and the effective transfer of technology. He has advised on, negotiated relevant agreements and conceived structures for the financing, operations and development of several Nigerian Marginal Oil Fields.

Oil exploration in Nigeria is highly dependent on navigation by waterways and with the promulgation of the Cabotage and Local content laws, a wholly indigenous Shipping Industry is on the verge of emergence. Dayo has developed a vibrant Shipping Practice poised to assist indigenous and foreign clients with overcoming the challenges of this emergence.

Dayo provides legal support on various aspects of Shipping including but not limited to: local, international and cross border financing of Vessels, sale and purchase of vessels, vessel mortgages, flagging/flag administration, Charter party Agreements, maritime insurance and various other maritime related issues. He has participated in closing several sale/purchase of ship transactions in various jurisdictions across the world; he has also worked with and continues to maintain a close relationship with an array of international law firms and lawyers based in jurisdictions where open ship registries are situated across the world.

Samples of Notable Transactions

Financing Transactions

  • Advised UBA Capital and Trusts in a USD$6,930,000.00 financing for MINL LTD by syndicated by State Bank of India, London, UK and ICICI Bank UK Limited.
  • Advised Capital Alliance Nigeria/Capital Alliance Private Equity Limited – Mauritius for the USD$15,000,000 financing for DWC Drilling Ltd – a Nigerian oil service company.
  • Advised Capital Alliance Nigeria/Capital Alliance Private Equity Limited for the financing of a well in Peak Petroleum Ltd’s Bilabri Oil field situated in OML 122, Offshore the Federal Republic of Nigeria.
  • Part of the team that negotiated, structured and documented the US$35,000,000 investment by Actis Capital LLP and Gulf of Guinea BVI Limited in the development and operations Goge (Nig) Limited’s participation in Frontier Oil Limited’s Uquo Marginal Oil Field located in Shell’s OML 13; and the US$20,000,000.00 Hybrid Financing by Diamond Capital & Investment Limited of Gulf of Guinea’s cash calls towards the development of the Uquo Marginal Field. This included structuring, negotiating, drafting, reviewing and revising the transaction documents (Trust Deed, Underwriting Agreement, Vending Agreement (& other ancillary documents).
Vessel Finance
  • “MT Ashabi” – advised NAL Bank Plc (now Sterling Bank Plc) and Caverton Marine Limited in the bridge financing for the acquisition from Singapore, of the 3208 GRT MT Aniva (renamed MT Ashabi) secured by a charge against the MT Ashabi and the MT Awero (previously known as MV Quentin).
  • “MT Lolade” – advised NAL Bank Plc (now Sterling Bank Plc) in the financing of the MT Lolade.
  • Advised (in conjunction with a SA law firm) Rand Merchant Bank Limited, South Africa towards providing a re-financing structure for an ocean-going vessel in the context of the Cabotage laws and regulations.
  • “MV Sea Puma” – Advised a Nigerian Bank on the USD$650, 000.00 financing of the acquisition of a 850 GRT Anchor Handling Tug Boat.
  • “HD Pride” & “HD Independence” – Advised a Nigerian Bank on the USD$7,500,000 financing of a Nigerian Company secured by a charge over 2 Dive Support Vessels registered in the Republic of Panama ship registry belonging to 2 affiliate companies’ registered in the British Virgin Island and register the charges at the Republic of Panama ship registry.
  • MT “AEGINA” – Advised a Nigerian Bank on the USD$ 7, 500, 000.00 Ship Financing transactions for the part acquisition a GRT 4999 Panamanian registered oil tanker from Arion Shipping Limited in Piraeus, Greece.
  • advised Omni (Ventures Limited) Consortium in the acquisition of Mobitel Limited.
  • Acted as Company Secretary/Legal Adviser to the re-engineered Mobitel Limited.
Equipment Leasing

Advised (in conjunction with a US law firm) a major Texas-based oil rig manufacturing and leasing company, on a suitable equipment-leasing structure between the Company and a Nigerian affiliate of a US oil servicing Company, advising on legal issues involved the cross-border transaction.

Concessions in Nigerian Oil Fields

Dayo was at various times member and leader of the team that advised:

  • Global Energy Resources Nigeria Ltd towards Nigerian Agip Oil Company’s participation in the operations for the development of Global Energy’s OPL135;
  • Kunoch Oil’s participation with Sterling Global Oil Ltd for the operations and development of OPL 277;
  • Petroleum Prospects International Ltd and its co-participants (ADDAX Petroleum, Express Oil Ltd & Niger Delta Exploration and Production Plc) for the participation in the development and operation of OPL227;
  • BICTA Petroleum for AFREN’s participation in BICTA’s “Ogedeh Marginal Field” in Chevron’s OML 90;
  • Goland Development & Petroleum Limited for Vittol Exploration Limited’s participation in Goland’s “Oriri Marginal Field” in Chevron’s OML88;
  • Red Rock Energy/Gulf of Guinea Energy (BVI) Ltd through GOGE (Nig) Limited’s participation in Frontier Oil Limited “Uquo Marginal Field” in Shell’s OML113;
  • Associated Offshore Oil Limited’s participation in Guarantee Petroleum & OWENA Petroleum’s “Ororo Marginal Field” in Chevron’s OML 88;
Regulatory and Compliance
  • Led the team that advised and assisted an IOC to develop a Legal/Regulatory Compliance database relating to Oil and Gas, IPP/Electricity and Tax issues.
Professional Memberships:
  • Nigerian Bar Association,
  • International Bar Association.
Conferences, Seminars & Workshops: –
  • October 2002 – Introductory Petroleum Law – Newman Energy Programme, Lagos;
  • November 2002 – Advanced Petroleum Law – Newman Energy Programme, Lagos;
  • January 2006 – “Developing Energy and Mining Projects in Emerging Markets” – International Bar Association – Section on Energy, Environment, Natural Resources and Infrastructure Law.
  • February 2008 – “Maximizing Opportunities in the Gulf of Guinea Region” KPMG Gulf of Guinea Oil & Gas Conference – Abuja -.
  • July 2009 – Kaplan Hawksmere – London, United Kingdom – Workshop on “Negotiating and Drafting International Commercial Agreements”.
  • “Due Diligence in Vessel Financing” – a paper prepared and presented by DP at a retreat for the legal Group of a leading Nigerian Bank.
  • English and Yoruba