Page 13 - Nigeria one mag 4 edition en

Despite ongoing energy security crisis, at the global commercial institutions to manage government
and local level, the Nigerian government is making assets and interests.
concerted efforts to enhance energy security through For the energy industry to make significant progress,
ensuring availability of crude oil supply. The it is important that the social issues that discourage
Petroleum Industry Bill recently introduced in to the investments in the energy industry be addressed
energy sector is intended to shape the regulatory while building institutions that will develop energy
framework and guide foreign and domestic investor’s infrastructure in the country. This is all to be targeted
activities in the sector, it is expected to improve at improving Nigerian energy production and
accountability, and financial transparency in the ensuring energy security. For the Nigeria energy
sector. Through the Petroleum Industry Bill, sector to move into a productive course and ensure
government will deregulate the state-controlled that energy infrastructure is secure, Nigeria must
industry and open up the downstream petroleum address major income inequalities that are exploited
sector to make it more competitive and to allow for by militant organizations for recruitment and
improved technological development in the sector. operations. As difficult as it is the Nigerian
The bill has provided Nigeria with a policy framework government should address the issues of disparities
for the general strategy and direction of the energy in Nigerian GDP per capita and promote better
industry, established new support services and new distilling of crude oil practices by expanding access to
institutions to regulate the energy industry and cleaner electricity and fossil fuel.

Nigeria imports kerosene for planes

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