At the 2019 International Petroleum Conference held in London, recently, the Group Managing Director of the Nigerian National Petroleum Corporation , Maikanti Baru, was reported to have copiously highlighted major investment opportunities not only in the Nigerian but the African oil and gas sector. He expressed great optimism on the positive outlook of the continent’s oil and gas business sector.
Beyond highlighting investment opportunities that exist in Africa and of course, Nigeria oil and gas sector, Baru was candid enough to acknowledge that unless legal and regulatory uncertainties, lack of infrastructure, skilled manpower shortages, transparency challenges and accountability issues are addressed among stakeholders, the continent’s oil and gas industry might not achieve its full potential.
There is no doubt that if obstacles placed by governments in Africa are removed, the oil and gas industry will witness investors’ patronage, perhaps, far beyond the expected $194 billion between 2018 and 2025. At this stage in the life and development of African countries, why are transparency and accountability issues still a bridge too far despite the generous mantra on ethical values and conduct? Are there no laws to deal with persons that inflict this unwholesome image on Africa and its constituent oil and gas producing countries?
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Source: GuardianNigeria - 🏆 1. / 94 Read more »