...Stories That Matter
The Petroleum Industry is the largest and main generator of GDP in Nigeria, having driven the Nigerian economy since the 1950s. Before then, agriculture contributed about 52% while petroleum brought in only about 0.002% of the Gross Domestic Product. The process of regulating the petroleum industry which started in year 2000 has been stalled in the legislative process, while Nigeria loses Trillions of naira worth of investments yearly. In this report, Correspondent evaluates the import of the Petroleum Industry Bill, and the extent of work to deliver a law that will meet the yearnings of all stakeholders,especially host communities.
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