Nigeria: Privatizing Oil and Gas Pipelines (1)
The oil and gas industry in Nigeria will soon be free of government control. The state owned Nigeria National Petroleum Corporation (NNPC) will become a private company – most importantly the network of oil and gas pipelines would also be available for concession. This change presents great opportunities to introduce additional market forces and capital investment in the oil and gas sector and to improve industry performance.
Nigeria is Africa’s largest oil and natural gas producer. However, the heavily regulated petroleum sector includes policies that inhibit the industry’s attractiveness to private investors. Consequently, demand for energy in Nigeria’s rapidly growing economy continues to rise while production of both oil and gas are in decline – leading Nigeria to depend increasingly upon energy imports.
– See more at: http://www.vanguardngr.com/2013/11/nigeria-privatizing-oil-gas-pipelines-1/#sthash.ERmiJlEC.dpuf
