Muhammadu Buhari - Nigeria Politics Headlines

President Muhammadu Buhari inherited an energy crisis in Nigeria when he took charge of the country in May 2015. Now elected for a second term of four years, it is safe to assume that the policies he worked with would not change significantly. Mr Buhari took over an upstream sector gasping for breath: even as crude oil prices were crashing down as he took the oath of office, there were problems that were self-inflicted by the previous administration, which were wrestling with the sector’s legacy challenges. Operations in the oil fields of the Niger Delta had not entirely recovered from the historic MEND attack of February 2006, which had reset the dynamics in the region around the distinctions between licence to – and freedom to – operate. The state hydrocarbon company, NNPC, was owing cash calls in a way that effectively disabled work programmes of operating companies. And by insisting on operatorship without the wherewithal to do so (competencies, governance, processes and funding), the NPDC, the operating E&P arm of the NNPC, had strangled investment in assets that Shell & Co. had sold to five Nigerian independents since 2012. At the time Buhari came in, those companies had lost three years’ worth of aggressive investment to boost production. Midstream, the lresident met proposals to diversify the gas market from export-led to an inclusive, part export, part domestic beneficiation, which could establish an industrial economy with huge absorptive capacity. A crucial part of the challenge here was that a disproportionate percentage…

Here’s why you should get this full premium article:
– Continue reading this premium article and other exclusive politics articles on multiple devices.
– Get in-depth analysis, award-winning news content and more.
– Enjoy all day, all year unlimited access on Politicoscope.com.

* Best of all: Save more on unlimited premium content. Less on-site advertising. Limited time offers. Cancel anytime.
Log In Sign Up

Did you find this helpful and informative?

Donate now to help us provide more like this.




* Here are other donation options for you. Please note that your donation is for the Politicoscope Standard News category. For Premium News readers, you can register here today.

Comments are closed, but trackbacks and pingbacks are open.