Business Day: Lack of Formal Policy on Domestic Gas Pricing Truncates Power Supply (Nigeria)

The much celebrated review of the controversial gas price regime announced in August 2014 by Diezani Aliso-Madueke, former minister of Petroleum Resources has turned out to be a ruse, as it is now revealed that there was no supporting document signed by the past government, the Nigerian National Petroleum Corporation (NNPC) , and the international oil companies (IOCs) to back the policy, BusinessDay investigations have shown.

Consequently, some analysts say that the development has led to waning interest of local producers of gas, particularly to the power sector, due to non-competitive nature of the pricing.

Read the full article HERE.