Last Wednesday, Nigeria announced reforms that are going to be made on their oil and gas sector. These reforms have been under fire from various oil companies such as Royal Dutch Shell since then, and now government representatives are addressing the concerns raised, such as the slowing of the development of deep water reserves. It has also been stated that these reforms could cause Angola to surpass Nigeria as Africa’s top oil producer by 2020. The government representatives have argued against these claims, stating multiple times in response to accusations that "nothing could be further from the truth". This legislation (the Petroleum Industry Bill) is supported by both President Yar’Adua and Vice President Goodluck Jonathan. It is still being worked on in Parliament and there is time for revisions on it to be made. For more information, click here.
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