Purchase Order Economist in Nigeria Lagos –Free Word Template Download with AI

Official Procurement Document for the Subscription and Supply of The Economist Magazine

Issued in Lagos, Nigeria

Purchase Order No.: PO-LAG-2025-04872
Date of Issue: 14 June 2025
Valid Until: 14 July 2025 Payment Terms: Net 30 Days
Delivery Terms: DAP Lagos, Nigeria
Incoterms: DAP (Delivered at Place) 1. Buyer Information

Field	Details
Company Name	Lagos Business Intelligence & Research Centre (LBIRC)
Address	Suite 12, 14B Adeola Odeku Street, Victoria Island, Lagos, Nigeria
City / State	Lagos, Lagos State, Nigeria
Country	Federal Republic of Nigeria
Contact Person	Mr. Adewale Ogunleye, Head of Procurement & Research
Email	[email protected]
Telephone	+234 (0) 803 555 7214
Tax Identification No.	TIN: 10458273-0001 (Nigeria FIRS)

2. Seller / Supplier Information

Field	Details
Company Name	The Economist Group, Ltd. – International Distribution Division
Address	The Economist, 25 St James's Street, London, SW1Y 4HU, United Kingdom
Contact Person	Ms. Catherine Whitfield, Regional Sales Manager – West Africa
Email	[email protected]
Telephone	+44 (0) 20 7565 1800
VAT / Tax No.	GB 987 6543 21

3. Itemised Purchase Details

Item No.	Description	Qty	Unit	Unit Price (NGN)	Subtotal (NGN)
01	The Economist – Annual Print Subscription (52 issues per year), delivered weekly to Lagos, Nigeria. Includes all standard editorial content, global economic analysis, and current affairs coverage.	25	Subscriptions	₦ 185,000.00	₦ 4,625,000.00
02	The Economist – Digital Access License (Economist.com full archive and current issue access), institutional plan for up to 50 concurrent users at the Lagos office.	1	License (Annual)	₦ 2,450,000.00	₦ 2,450,000.00
03	The Economist – Special Annual Report: "The World in 2025" (Print Edition), limited edition hardcover, 320 pages.	50	Copies	₦ 12,500.00	₦ 625,000.00
04	International Courier & Customs Clearance – Air freight from London Heathrow to Murtala Muhammed International Airport, Lagos, Nigeria. Includes all applicable Nigerian customs duties, VAT (7.5%), and handling fees.	1	Shipment	₦ 380,000.00	₦ 380,000.00
05	Local Distribution & Handling within Lagos Metropolitan Area – Delivery of print subscriptions to designated offices in Victoria Island, Lekki Phase 1, and Ikeja GRA.	1	Service (Annual)	₦ 210,000.00	₦ 210,000.00
Subtotal (NGN):					₦ 8,290,000.00
Nigerian VAT @ 7.5% (on applicable items):					₦ 531,750.00
TOTAL AMOUNT DUE (NGN):					₦ 8,821,750.00

4. Delivery and Logistics

All print materials under this Purchase Order shall be shipped from the seller's London facility via air freight to Murtala Muhammed International Airport (MMIA), Lagos, Nigeria. The seller is responsible for all export documentation, including commercial invoices, packing lists, and certificates of origin. The buyer shall be responsible for Nigerian import clearance, payment of any residual customs duties not already included in Item 04, and final-mile delivery coordination within the Lagos metropolitan area.

The initial shipment of The Economist print subscriptions and the special annual report shall arrive at the buyer's Victoria Island office no later than 28 June 2025. Subsequent weekly print deliveries shall be scheduled every Thursday, with a maximum transit window of five (5) business days from dispatch in London to delivery in Lagos. The digital access license (Item 02) shall be activated within forty-eight (48) hours of confirmed payment.

5. Payment Terms and Conditions

1. Payment Method: Payment shall be made via international wire transfer (SWIFT) to the seller's designated bank account in London, or by irrevocable Letter of Credit issued by a Nigerian commercial bank acceptable to the seller. The buyer's bank shall be First Bank of Nigeria PLC, Victoria Island Branch, Lagos.
2. Payment Schedule: A non-refundable deposit of 30% (₦ 2,646,525.00) shall be remitted within five (5) business days of acceptance of this Purchase Order. The remaining 70% balance (₦ 6,175,225.00) shall be due within thirty (30) calendar days of the date of delivery of the initial shipment to Lagos, Nigeria.
3. Currency: All amounts are quoted and payable in Nigerian Naira (NGN). Where international transfer in British Pounds (GBP) or US Dollars (USD) is required, the exchange rate shall be the Central Bank of Nigeria (CBN) official rate on the date of remittance.
4. Late Payment: Any amount not received by the due date shall attract a penalty interest of 1.5% per month, calculated on the outstanding balance, in accordance with Nigerian commercial practice.
5. Disputes: Any dispute arising from this Purchase Order shall be resolved through arbitration in Lagos, Nigeria, under the rules of the Lagos Multi-Door Courthouse, or alternatively through the courts of competent jurisdiction in Lagos State, Nigeria.

6. Terms and Conditions of Sale

1. This Purchase Order constitutes a binding agreement between the Buyer (LBIRC, Lagos, Nigeria) and the Seller (The Economist Group, Ltd., London, UK) upon signature by both parties.
2. All copies of The Economist magazine supplied under this order are for internal institutional use by the Buyer and its authorised personnel in Lagos, Nigeria. Redistribution, resale, or public display of the content is strictly prohibited without prior written consent from the Seller.
3. The Seller warrants that all print materials shall be in new, undamaged condition and conform to the specifications stated in this Purchase Order. Any defective or damaged items shall be replaced at the Seller's expense within fourteen (14) days of written notice from the Buyer.
4. The digital access license (Item 02) is non-transferable and limited to the physical premises of the Buyer in Lagos, Nigeria. The Seller reserves the right to audit usage in compliance with the license terms.
5. This Purchase Order is governed by the laws of the Federal Republic of Nigeria, with particular reference to the Nigerian Investment Promotion Commission (NIPC) regulations and the Customs Act (Cap C13, LFN 2004) for import-related matters.
6. Force Majeure: Neither party shall be liable for failure to perform obligations due to events beyond reasonable control, including but not limited to natural disasters, government sanctions, port closures at MMIA Lagos, or international shipping disruptions.
7. This Purchase Order is valid for a period of twelve (12) months from the date of issue. Renewal shall be subject to mutual written agreement and may be subject to revised pricing by the Seller.

7. Authorisation and Acceptance

For and on behalf of the Buyer:

Lagos Business Intelligence & Research Centre

Mr. Adewale Ogunleye
Head of Procurement & Research
Date: _______________

For and on behalf of the Seller:

The Economist Group, Ltd.

Ms. Catherine Whitfield
Regional Sales Manager – West Africa
Date: _______________

This Purchase Order (PO-LAG-2025-04872) was issued in Lagos, Nigeria on 14 June 2025. It pertains to the procurement of The Economist magazine subscriptions, digital access, and special publications for use in Lagos, Nigeria. This document is the property of Lagos Business Intelligence & Research Centre and The Economist Group, Ltd. Unauthorised reproduction or distribution is prohibited.

Document Reference: PO-LAG-2025-04872 | Classification: Commercial – Confidential | Page 1 of 1

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