Nigeria: New petroleum policy | KPMG | GLOBAL

Nigeria: New petroleum policy

Nigeria: New petroleum policy

The federal government has approved a national petroleum policy that articulates the vision for the Nigerian petroleum industry and is intended to serve as a catalyst for economic growth.

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One key reason for the new policy is that the previous petroleum policy was not designed for development (it encouraged rent-seeking, leaving the country as the only member of the Organisation of Petroleum Exporting Countries without an effective oil refining capacity). 

 

Read an August 2017 report [PDF 314 KB] prepared by the KPMG member firm in Nigeria

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