Some oil and gas experts in Nigeria have asked the Federal Government to address the lapses in the country’s licensing round if the projected goals in the petroleum industry will be achieved.
Speaking on the back of the 2020/2021 marginal fields bid licensing round, stakeholders in Abuja noted that corruption, arbitrary decisions, undue political influence and other issues were still prevalent in the country’s bidding process.
In a report commissioned by the Human and Environmental Development Agenda (HEDA) and presented in Abuja, the stakeholders said there was arbitrary lumping of strange bedfellows into same SPVs without regard to capacity, competence and previous experience in proposing/awarding share percentages and structure of governance, funding and profit-sharing formula for them.
They also noted the delays precipitated by the COVID-19 pandemic, the transition from Department of Petroleum Resources to Nigeria…
Read More