Nigeria commended for transparent management of oil sector

The national association of energy economists says Nigeria’s oil and gas sector recorded improvement in transparency and accountability in the past two years.

The association president, Prof. Wunmi Iledare, who assessed the sector during the period, however, said that oil and gas operations had remained unfortunately, personality-driven, and advised that it should be institution-operated.

There is certainly a great improvement in terms of transparency and accountability. I am not sure there is much to write home about in terms of governance. As far as I am concerned, the oil and gas sector as per governance is still personality-driven rather than being institutionally-driven,” he said.

“I am hopeful that the passage of the Petroleum Industry Governance Bill by the Senate will help, if the House of Representatives follow suit quickly before the politics of 2019 sets in,’’ he said.