Nigeria Reforms Oil Sector To Draw New Investment

Provisions in the 2018 budget, published in early November, set out proposals that allow for the sale of state equity in joint-venture (JV) oil assets, a move officials say will raise N710bn ($2bn). The additional revenue generated from the reforms will be used to help balance the federal budget and encourage fresh investment in the energy industry. “The reform is aimed at increasing private sector equity participation to improve efficiencies in the sector and also provides revenue to the government, which will be deployed solely…
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