New setbacks expected for Nigerian asset sale
Nigeria could face significant problems in selling some of its oil and gas assets, including poor security and a lack of regulatory clarity
20 March 2017
The Bonny Island LNG plant. It is unknown whether Nigeria will sell its stake in the facility. (Shell)
Nigeria’s decision to sell off some of its oil and gas assets has sparked interest from international bidders, but reform of the Petroleum Industry Bill (PIB) and political issues mean any asset sales could take time to bear fruit, sources have told Interfax Natural Gas Daily.
Nigerian President Muhammadu Buhari announced the long-awaited asset sale last week as part of the country’s Economic Recovery and Growth Plan (ERGP)
But despite the political will, it is likely to be some time before any deals are actually made. Campaigning...
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