After 58 years of independence, the state of the Nigerian oil industry has remained pathetic among other oil producers. Up till this moment, the industry lacks relevant and contemporary regulations. In other words, the industry lacks global competitiveness, which automatically puts it at the mercy of subjective interests, STANLEY OPARA writes The refusal of President Muhammadu Buhari to assent to the Petroleum Industry Governance Bill (PIGB) after a wait of almost two decades, has brought the issue of reforms in the oil sector of the economy into sharp focus and public scrutiny. Coming at a time when expectations were high that after the prolonged pause of being stuck in the National Assembly the Petroleum Industry Bill (PIB) was close to significant, albeit incremental fruition, the decision of the President was an anti-climax that has set the industry and indeed, the entire economy into fresh anxieties and uncertainties. While the […]