A Brief Highlight of the Regulatory Framework for Engaging in Business in the Energy Sector in Nigeria

Abstract

The Energy sector is a very complex and multi-faceted sector in Nigeria’s economy. Ever since the discovery of oil in commercial quantity in Nigeria, oil has accounted for a large chunk of Nigeria’s revenue, thus, implying that the country is a very fertile ground for big companies hoping to invest and expand their petroleum business. However, the country’s energy sector, in a whole, comprising oil and gas and electricity is quite developed, even if not at the desired level. This paper therefore seeks to provide a quick highlight of the regulatory framework for engaging in business in the energy sector in Nigeria. The paper seeks to provide a quick glance at what the law says in order to help an investor determine whether it is worthwhile coming to invest in Nigeria’s energy industry as well as provide a ground for further academic research on the deficiencies of the current regulatory system.