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Lagos, April 15, 2021 The Federal Government on Thursday inaugurated an Alternative Dispute Resolution Center (ADRC) to quicken resolution of disputes in the oil and gas industry in Lagos.
It also inaugurated a six-member Advisory Council and a 20-member Body of Neutrals to mediate on disputes before the ADRC, which is one of the units of the National Oil and Gas Excellence Centre (NOGEC).
Mr Sarki Auwalu, Director, Department of
Petroleum Resources (DPR) while inaugurating the council, noted that there were several oil and gas litigation both in Nigerian and foreign courts and tribunals.
He said: “These disputes usually take a considerable amount of time and cost to resolve.
FG seeks speedy resolution of disputes in oil, gas industry
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The Federal Government on Thursday inaugurated an Alternative Dispute Resolution Center (ADRC) to quicken the resolution of disputes in the oil and gas industry in Lagos.
It also inaugurated a six-member Advisory Council and a 20-member Body of Neutrals to mediate on disputes before the ADRC, which is one of the units of the National Oil and Gas Excellence Centre (NOGEC).
Mr Sarki Auwalu, Director, Department of Petroleum Resources (DPR) while inaugurating the council, noted that there were several oil and gas litigation both in Nigerian and foreign courts and tribunals.
Nigerian government seeks speedy resolution of disputes in oil, gas industry today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
The continued dominance of the Federal Government, despite the deregulation of the downstream sector, has fueled uncertainties, and stifled investment.
Energy Vanguard investigation, weekend, showed that the dominance has continued to push the sector towards a negative trajectory, which culminated partly in the divestment of operators, especially Oando, Forte Oil, and Mobil.
Specifically, the policy flip flops have also constrained potential investors from making long term strategic plans required to deploy capital in the downstream sector.
Oil marketers criticise govt
In an interview with Energy Vanguard, the National President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr Billy Gillis-Harry, maintained that, once deregulation is properly outlined and the rules of engagement brought out, its members, comprising major and independent marketers, as well as depot owners, are ready to commence fuel import.