AO2LAW’s Post

Still on the subject of developing the oil and gas sector in Nigeria, our GMD, Dr. Ernest shares some of the challenges that may slow down or hinder progress. Aside from the level of human capital advancement, he highlighted other challenges, such as the management of host communities and access to proper funding. Even though Nestoil has been able to surmount these obstacles over the years, they still pose as challenges in the oil and gas industry. How do you think these challenges can be solved? #nestoil #inspiredbypeople

The Nigerian oil and gas sector received a significant boost with the enactment of three Executive Orders on February 28, 2024. These Executive Orders, signed by the President of Nigeria, aim to stimulate investment and growth within the industry while addressing key challenges and opportunities. This document provides a summary analysis of the provisions of these Executive Orders, their potential impacts on the oil and gas landscape, and their implications for stakeholders. The insight was co-authored by our Partner, Nimma Jo-Madugu; Senior Associate, Peace Adeleye and Associates, Oluwapelumi Ikujenyo and Chidera Mbaogu Kindly click the document to download. #kennainsights #oilandgas

A few weeks ago, our CEO Mrs Chioma Mordi engaged the MD/CEO of 11PLC (Formerly Mobil Nigeria), Mr. Adetunji Oyebanji in an intriguing discussion to explore the depths of corporate governance in the oil and gas industry. This compelling discussion highlighted the Essence and importance of the Petroleum Industry Act (PIA) 2021 in Nigeria and the gaps in the PIA 2021, particularly in promoting effective corporate governance practices in the Oil and Gas Industry. The MD, 11 PLC Mr. Oyebanji, emphasised the need for policymakers to incorporate strong corporate governance regulations alongside the focus on safety within the oil and gas industry. Don’t miss this insightful discussion. Watch the interview and join the conversation on how we can shape a safer and more transparent oil and gas industry in Nigeria. Watch the Full Interview https://lnkd.in/di-8Wfwz #11PLC #MobilNigeria #CorporateGovernance #SCGN #Transparency #Accountability #BoardIndependence #Training #CorporateResponsibility #BusinessConsultant #CorporateGovernanceCodes #SCGNNigeria #BoardManagement #CorporateGovernance #OilAndGas #PIA #NigeriaOilIndustry #SafetyFirst #PolicyReform #IndustryLeaders ‎

#Did you know? The Federal Government of Nigeria recently signed the consolidated guidelines for implementing fiscal incentives in the oil and gas sector. This development is expected to have a positive impact on attracting investors and boosting the economy. Swipe to learn more. #Petroleum #OilandGas #NigerianOilAndGas #EnergyPolicy #EnergySector #NigerianEnergySector #WeAreSSK

I applaud the Federal Government's recent policy directives on unlocking investments in the oil and gas sector which marks a significant step in addressing the sector's declining performance and reversing the trend for Nigeria's economic development.   Beyond incentives tailored for non-associated gas, midstream, deepwater developments, and streamlined contracting processes, this policy can unlock 1 billion cubic feet per day of gas supply, create 2.3 million jobs and attract about $17 billion in energy investments. Commendable.    #UnlockingNigerianGasOpportunities

What is the future of Ghana’s oil and gas sector and how can it be sustained for the mutual benefit of all? Cynthia Lumor, Deputy Managing Director, will share her insights on this critical topic at this year’s Ghana Oil and Gas Conference in Accra. Stay tuned for highlights. #GOGConference2024 #FutureOfEnergy #IndustryInsights #TullowGhana

Despite being Africa's largest oil producer, Nigeria has recently experienced a decline in investment in the oil and gas sector raising concerns about the future viability of the Nigerian oil and gas industry (the “Industry”). In 2023, the country was reported to have received only 5% of the total oil and gas investment received in Africa. Compounded by a global shift towards renewable energy sources, Nigeria's oil and gas sector faces a dire need for modernisation to keep pace with evolving Industry standards. This article examines recent regulatory innovations introduced by the Nigerian government aimed towards promoting investment in the Industry in a rapidly evolving energy landscape. Read the full article: https://lnkd.in/dc_giNBW Omolola Coker Abdulmajeed Abolaji Kenechukwu Ogbogo

💭☠️ Did you know? The oil and gas industry in Nigeria is much dirtier than other countries - and by far. In 2019, companies spilled 13x more oil and flared 6x more gas than the global average. Why do they operate to different standards in Nigeria? Check out this infographic for more key insights. #Environment #OilandGas #Nigeria #2019EPIReport

In furtherance of the continuing drive of the Federal Government of Nigeria (“FGN”) to boost the attractiveness of the oil and gas sector as a veritable hub for investment, the President of the FGN and the Minister of Petroleum Resources, President Bola Ahmed Tinubu, on February 28, 2024, signed one (1) executive order and two (2) directives that are aimed at introducing fiscal incentives for certain types of non-associated gas projects, reducing contracting costs and timelines in the sector, as well as obliterating any leakages impacting the compliance with local content requirements within the Nigerian oil and gas sector. We have, in this latest newsletter, highlighted the key changes introduced and the impact we anticipate they may have on the industry. Click the link below to read more https://lnkd.in/dvMU9iMW #oilandgasindustry #gasprojects #fiscalincentives #Nigeriaoil #localcontent #Banwoandighodalo