Nigeria loses USD15b in investments annually
(MENAFN) Nigeria plans to unbundle a long-awaited oil law to speed up its passage through parliament, thus unlocking billions of dollars in frozen investments.
Additionally, the country is drastically missing more than USD15 billion on an annual basis in potential investments on the back of the lack of Petroleum Industry Bill (PIB).
The local Petroleum Industry Bill has been collecting dust since 2008 because of differences between the government and foreign oil top companies over its terms.
More on the matter, politicians in the impoverished north already claim the south gets more than its fair share of oil income, thus both complaints have contributed to the delay.
Additionally, the country is drastically missing more than USD15 billion on an annual basis in potential investments on the back of the lack of Petroleum Industry Bill (PIB).
The local Petroleum Industry Bill has been collecting dust since 2008 because of differences between the government and foreign oil top companies over its terms.
More on the matter, politicians in the impoverished north already claim the south gets more than its fair share of oil income, thus both complaints have contributed to the delay.
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