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Title: Nigeria Looks To Reduce State Role in Energy Sector
Source: Reason
URL Source: https://reason.com/2023/06/20/niger ... e-state-role-in-energy-sector/
Published: Jun 21, 2023
Author: Willian Rampe
Post Date: 2023-06-21 21:53:05 by Charles_Byrd
Keywords: None
Views: 106

Nigeria's new government may reform the country's energy sector to limit the state's role in the production and sale of oil and gas.

According to Reuters, advisers to newly-elected Nigerian President Bola Tinubu recommended that the government reduce its stake in the state-run Nigerian National Petroleum Corporation (NNPC) to a minority position in order to raise $17 billion in revenue. The plan also proposes unifying Nigeria's multiple energy regulators into a single body, noting that "governance and regulatory concerns have eroded investor confidence, diverting private capital needed for the development of critical oil and gas infrastructure."

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