The 45-page proposed industry-wide regulatory framework, PETROLEUM INDUSTRY GOVERNANCE BILL, has been described as a “first step on a long road to reforming, and restoring investor confidence in the Nigerian oil and gas sector.”
Moving beyond the multi-causal explanations for policy changes in the oil and gas sector, this memorandum submitted to the Senate Joint Committee in December 2016, highlights the institutional and policy requirements needed to overcome the identified gaps, and improve economic outcomes for the Nigerian oil and gas industry.
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