• Non-passage of enabling petroleum law has cost Nigeria $200b – NEITI

    Non-passage of enabling petroleum law has cost Nigeria $200b – NEITI

    According to reports, the Nigeria Extractive Industries Transparency Initiative (NEITI) says Nigeria has recorded losses to the tune of $200 billion for failing to pass an enabling law for the petroleum industry.

    The NEITI Director of Communications, Dr. Orji Ogbonnaya Orji, disclosed this in a statement in Abuja on Wednesday.

    Orji said some of the losses were projected investments due to regulatory uncertainty.

    Orji said that clear unambiguous rules, predictable policy-making and efficient regulations had been lacking in Nigeria’s petroleum sector since the […]