Nigeria considers lowering government stake in oil and gas
Nigeria 
LAGOS, June 13, 2023 – Nigeria’s government is considering a reduction of state participation in its oil and gas sector, Reuters reported on Sunday.
According to sources, President Bola Tinubu has been advised to sell stakes in state-run NNPC’s joint ventures with global operators with the goal of raising up to USD 17 million.
Additionally, the new plan recommends the government consolidate its energy regulators into a single entity, with NNPC to focus on its oil and gas operations instead of its dual role as regulator.
The move would see significant changes to Nigeria’s Petroleum Industry Act by the new government, which is being inaugurated today following the country’s elections in February 2023.
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