Reversing the ‘Resource Curse’ Phenomenon in Nigeria: An Assessment of the Nigeria Extractive Industries Transparency Initiative Act After a Decade

Ojukwu-Ogba, Nelson; Osode, Patrick C.

doi:10.1163/17087384-12340019

“…According to this view of sovereign ownership, the state would have complete control and permanent sovereignty over all-natural resources, including petroleum. 11 This ownership theory is considered to be the most prevailing theory on the ownership and control of petroleum resources. With the notable exception of the United States of America, this theory is favoured in Nigeria and virtually every other country with natural resources.…”

Section: Literature Reviewmentioning

confidence: 99%

An examination of the Petroleum Industry Act 2021: prospects, challenges, and the way forward

Borha,

Olujobi

2023

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Background: The study examines the gaps in the provisions of the Petroleum Industry Act (PIA) that could hinder the effective application of the Act in attaining its objectives. The repealed Petroleum Act of 1969 became obsolete and largely incapable of meeting the emerging global best practices in the industry due to inadequate sanctions, failure to address the aspirations of the people of the oil-bearing states, among others. Hence, the need for the PIA of 2021 to overhaul the industry to meet global standards though some controversial provisions that pose challenges to its proper implementation. Methods: The study examines the PIA to identify its prospects, challenges, and the way forward. The methodology the study utilises is doctrinal research with reports from existing literature and tertiary data sources such as newspapers, the Internet, and websites. Pertinent data collected from these sources were theoretically analysed and argued with current literature on the subject. Results: The finding is that the PIA does not make adequate provisions for the energy transition in line with Nigeria’s Nationally Determined Contributions (NDC) under the Paris agreement; the PIA was provided for weak institutions, which translates to weak implementation and enforcement of the law which further widening the gap between the law and reality. Conclusions: The study concluded that, although the Act delivered the much-needed stability in the petroleum industry in Nigeria, there is a need for an overhaul of the Act to further protect the interest of host communities and allow for co-ownership of petroleum resources by the state government.

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“…This position in the constitutional basis of the country strongly posits that the government has the right to oil and gas on behalf of the entire citizens of the country for the advantages and overall development under the provision of the legal framework. Nonetheless, the current scenario of lack of good governance and corruption affects the extent by which the country has been able to judiciously use the revenue from oil and gas for the benefit of the citizens and overall development of the country [87,117,119] when compared with what is obtainable elsewhere like Abu Dhabi, Saudi Arabia, United Arab Emirate, etc.…”

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confidence: 99%

Comparative Analysis of Oil and Gas Legal Frameworks in Bangladesh and Nigeria: A Pathway towards Achieving Sustainable Energy through Policy

Dhali,

Hassan,

Subramaniam

2023

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The demand for energy remains a cornerstone of modern civilization, with the oil and gas industry critically meeting the global population’s daily requirements. As energy continues to drive economic growth, propel climate change mitigation, and underpin sustainable development, its management requires astute legal frameworks. This research delves into the legal structures of Nigeria and Bangladesh’s oil and gas sectors, aiming to discern their alignment and contributions towards achieving Sustainable Development Goal (SDG) 7. Adopting a library-based doctrinal legal research approach, this paper intertwines conceptual legal insights with comparative analysis. Our findings underscore that, while both Bangladesh and Nigeria have undertaken commendable strides towards SDG 7, the current pace and scope remain inadequate for realizing holistic energy sustainability. It becomes imperative, therefore, for their regulatory landscapes to evolve, integrating policy reforms resonant with the SDGs. This paper emphasizes the indispensable role of robust legislative frameworks in nurturing and fortifying a nation’s sustainable energy infrastructure.

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An examination of the Petroleum Industry Act 2021: prospects, challenges, and the way forward

Borha,

Olujobi

2023

View full text Add to dashboard Cite

Background: The study examines the gaps in the provisions of the Petroleum Industry Act (PIA) that could hinder the effective application of the Act in attaining its objectives. The repealed Petroleum Act of 1969 became obsolete and largely incapable of meeting the emerging global best practices in the industry due to inadequate sanctions, failure to address the aspirations of the people of the oil-bearing states, among others. Hence, the need for the PIA of 2021 to overhaul the industry to meet global standards though some controversial provisions that pose challenges to its proper implementation. Methods: The study examines the PIA to identify its prospects, challenges, and the way forward. The methodology the study utilises is doctrinal research with reports from existing literature and tertiary data sources such as newspapers, the Internet, and websites. Pertinent data collected from these sources were theoretically analysed and argued with current literature on the subject. Results: The finding is that the PIA does not make adequate provisions for the energy transition in line with Nigeria’s Nationally Determined Contributions (NDC) under the Paris agreement; the PIA was provided for weak institutions, which translates to weak implementation and enforcement of the law which further widening the gap between the law and reality. Conclusions: The study concluded that, although the Act delivered the much-needed stability in the petroleum industry in Nigeria, there is a need for an overhaul of the Act to further protect the interest of host communities and allow for co-ownership of petroleum resources by the state government.

show abstract

Reversing the ‘Resource Curse’ Phenomenon in Nigeria: An Assessment of the Nigeria Extractive Industries Transparency Initiative Act After a Decade

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An examination of the Petroleum Industry Act 2021: prospects, challenges, and the way forward

An examination of the Petroleum Industry Act 2021: prospects, challenges, and the way forward

Comparative Analysis of Oil and Gas Legal Frameworks in Bangladesh and Nigeria: A Pathway towards Achieving Sustainable Energy through Policy

An examination of the Petroleum Industry Act 2021: prospects, challenges, and the way forward

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