Nigeria, once a leading crude oil producer in Africa with close to two million barrels per day production is struggling to keep up despite the passage of the Petroleum Industry Act.
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Amidst uncertainties facing the upstream segment of the Nigerian petroleum industry, the Federal Government, yesterday in Abuja, announced that fresh regulations are being considered to address key issues in the sector.
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The Nigeria Upstream Petroleum Host Community Development Trust Regulations were formally gazetted on Monday by the Federal Government in compliance with the Petroleum Industry Act of 2021.