Tribune Online
Presidential assent to deep offshore amendment bill
Nigeria’s 11 years delay in amending the controversial Deep Offshore and Inland Basin Production Sharing Contract Act (DOIBPSC) which made the country to lose about $62 billion has made Nigerians to almost lose hope in it. But if there’s life, hope must continue to exist.
Though, the law should have been reviewed by the Yar’adua administration in 2008, the Nigerian authorities did not pay much attention to it and allowed the oil companies to be going away with 80 per cent of the deep offshore oil while Nigeria is left with only 20 per cent.
Who do we blame for this negligence? It’s such a contradiction that the…
Source: Nigerian Tribune
