There is absolutely no doubt that Africa is a very rich continent, both in terms of human and natural resources. It is this massive wealth, particularly of natural resources, that has continued to attract both the developed and developing world to its embrace. The developed countries often come with rapist tendencies, but pose as developers and partners. They see Africa as a raw material enclave.
Particularly so, some countries are deeply worried about the conversations going on and being escalated on global theatres as regards climate change, a phenomenon that has come to link its nemesis to carbon emissions.
The enactment of the Petroleum Industry Act 2021 and efforts made by the Nigerian Upstream Petroleum Regulatory Commission to breathe life into its provisions have brought some relief to both the sector and operators.
Fortune continued to smile on the industry with the high energy prices in the last two years. The oil and gas industry globally is experiencing positive inflows which could be directed to capital investment in upstream operations. Projections by industry experts over the next few years look good. Industry players therefore have a chance to leverage this opportunity by up-scaling every effort to attract more investments to revive the Nigerian upstream sector.