Index to Nigerian Newspapers

Nigeria's Petroleum Industry Act (PIA) has faced administrative challenges, inadequate funding, infrastructure, and limited collaboration among stakeholders. The legislation aims to increase restructuring, investments, improved operations, and transparency in the oil and gas industry. However, the implementation of the Environmental Remediation Fund and Environmental Management Plan is still pending stakeholders' alignment. The Nigerian Upstream Decommissioning and Abandonment Regulations 2023 are also undergoing gazetting stage, while the administration of economic interest securities is awaiting stakeholders' alignment. The delay in implementing the legislation has hindered the full delivery of expected benefits to Nigeria's oil and gas industry and economy. The rig count in Nigeria remains stagnant compared to other African nations, such as Algeria and Libya.