Chasing dwindling investment, Nigeria revamps oil sector law ...Middle East

Devdiscourse - Opinion
Chasing dwindling investment, Nigeria revamps oil sector law
source : Devdiscourse ( Middle East ) () 14
Nigeria's parliament on Friday cleared a historic petroleum overhaul that seeks to attract waning investment to its ageing oil sector and sent the measure to the president for signature. The overhaul, in the works for 20 years, is the first sweeping update to the laws that govern everything from oil drilling to fuel sales in Africa's largest oil exporter in decades. Experts said the package is crucial to enable Nigeria to develop its oil and gas before they effectively become stranded assets as the world moves towards cleaner energy.

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