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According to the Nigerian constitution, all minerals, gas, and oil the country possesses are legally the property of the Nigerian Federal Government. The revenue gained by the NNPC accounts for 76% of federal government revenue [16] and 40% of the entire country's GDP. As of 2000, oil and gas exports account for 98% of Nigerian export earnings ...
It monitors the oil and gas industry to ensure compliance with relevant regulations and laws. [1] It also oversees the safety and other regulations that relate to the exportation and importation of the products into the country. [2] As part of its activities, the department manages the upstream and downstream sectors in Nigeria petroleum ...
In 1971, the Nigerian National Oil Corporation (NNOC) was created to handle direct commercial operational activities in the oil industry on behalf of the Federal Government. [4] However, the Department of Petroleum Resources in the Federal Ministry of Mines and Power continued to exercise statutory supervision and control of the industry. In ...
The most productive region of the nation is the coastal Niger Delta Basin in the Niger Delta or "South-south" region, which encompasses 78 of the 159 oil fields. Most of Nigeria's oil fields are small and scattered, and in 1990, these small unproductive fields accounted for 62.1% of all Nigerian production.
Nigerian Agricultural Insurance Corporation (NAIC) National Root Crops Research Institute (NCRI) Agricultural Research Council of Nigeria; Nigerian Institute for Oceanography and Marine Research; Nigerian Institute for Oil Palm Research (NIFOR) Nigeria Agricultural Quarantine Service (NAQS) National Horticultural Research Institute (NIHORT)
Furthermore, the Nigerian Export Promotion Council (Amendment) Decree No. 64 and 65 of 1992 was promulgated to enhance the performance of the Council. The Council is the leading Federal Government Agency charged with the responsibility of promoting non-oil export in Nigeria to diversify away from oil and build a formidable economy.
The Nigerian Gas Association is the professional body responsible for the promotion and protection of the interests of the gas industry in Nigeria. Formed in 1999, the NGA's initial membership came from the primary gas production and utilization companies in Nigeria.
Aiteo’s acquisition of Shell’s assets, specifically OML 29 and the Nembe Creek Trunk Line, was a significant event in the Nigerian petroleum sector. [13] The transaction was finalized in the third quarter of 2014 and had a transformative impact on both Aiteo and the Nigerian oil and gas industry.