.PIA unfinished business lingers The Nigerian oil and gas sector, once reputed for Joint Ventures (JVs) and Production Sharing Contracts (PSCs), has seen a notable decline in output and investment in recent years, raising the alarm bells for a nation heavily reliant on crude oil exports for its foreign exchange (FX) inflows. Latest data from the Nigeria Extractive Industries Transparency Initiative (NEITI), a transparency watchdog, showed that there was about a 30 to 35 percent drop in Nigeria's JV and PSC operations from 2013 to 2023.
.PIA unfinished business lingers The Nigerian oil and gas sector, once reputed for Joint Ventures (JVs) and Production Sharing Contracts (PSCs), has seen a notable decline in output and investment in recent years, raising the alarm bells for a nation heavily reliant on crude oil exports for its foreign exchange (FX) inflows. Latest data from the Nigeria Extractive Industries Transparency Initiative (NEITI), a transparency watchdog, showed that there was about a 30 to 35 percent drop in Nigeria's JV and PSC operations from 2013 to 2023.