An Appraisal of the Legal Framework for the Regulation of Nigerian Oil and Gas Industry, with Appropriate Recommendations
29 Pages Posted: 29 Aug 2012
Date Written: August 2, 2011
The oil and gas sector in Nigeria is undoubtedly going through serious crisis, due partly to a sharp reaction by the oil producing communities, which suffer grievous hardships resulting from the operations of the laws governing the sector. The various attempts to suppress these people through the gun have failed woefully. The only option clearly available to the key players in the industry (the government and the oil producing/servicing companies) is to adopt fair and equitable laws as a framework for the exploitation of the oil and gas resources in Nigeria. This paper assesses the available laws regulating the oil and gas industry in Nigeria and recommends a progressive legal framework for the regulation of the Nigerian oil and gas sector, with a view to remedying the perceived lapses in the law.
Keywords: Nigeria, Nigerian oil and gas industry, Nigerian oil and gas sector, petroleum industry, history of oil and gas in Nigeria, ownership of oil and gas in Nigeria
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