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LequteMan
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Nigeria- Senator Bukola Saraki has revealed that Gen. Muhammadu Buhari plans to make ending corruption in and reforming of the Nigeria National Petroleum Corporation his most urgent priorities in the oil sector, rather than tax policies and reforms for international oil companies, Reuters reports.
"We need to address the structural issues and leave the fiscal for now," Sen. Saraki, whose All Progressive Congress party controls both houses of parliament after a landslide win, said. "A more transparent NNPC (Nigeria National Petroleum Corporation) is needed with reasonable accounting," he said.
Other party sources said the issue of fiscal terms, seen as crucial by the industry, will have to wait on current thinking about oil and gas policies for Africa's leading producer.
"The worry is that there's going to be a lot of time wasted in witch-hunting...That could take a year in which nothing else will happen," said a Nigerian investment banker focused on upstream oil and gas projects, who declined to be named.
Buhari owes his March 28 victory against incumbent Goodluck Jonathan partly to a perception that Jonathan allowed corruption to get out of control -- especially in the oil sector.
By contrast, Buhari was seen as one of the few Nigerian leaders to have cracked down on corruption during his military rule in 1983-1985. Many Nigerians hope he will again.
#Nigeria #Buhari #Jonathan #NNPC
"We need to address the structural issues and leave the fiscal for now," Sen. Saraki, whose All Progressive Congress party controls both houses of parliament after a landslide win, said. "A more transparent NNPC (Nigeria National Petroleum Corporation) is needed with reasonable accounting," he said.
Other party sources said the issue of fiscal terms, seen as crucial by the industry, will have to wait on current thinking about oil and gas policies for Africa's leading producer.
"The worry is that there's going to be a lot of time wasted in witch-hunting...That could take a year in which nothing else will happen," said a Nigerian investment banker focused on upstream oil and gas projects, who declined to be named.
Buhari owes his March 28 victory against incumbent Goodluck Jonathan partly to a perception that Jonathan allowed corruption to get out of control -- especially in the oil sector.
By contrast, Buhari was seen as one of the few Nigerian leaders to have cracked down on corruption during his military rule in 1983-1985. Many Nigerians hope he will again.
#Nigeria #Buhari #Jonathan #NNPC
