ǼLEX Partner Soji Awogbade FEI, was at the 3rd Lawyers in Oil and Gas Conference held this week in Lagos. He moderated the session titled ‘National Oil Policy’, which included speakers such as; Mr Victor, Okoronkwo (MD Aiteo Exploration and Production Company) and Mr Udom Onoyo (Vice Chairman, ExxonMobil). The central theme of the conference was ‘Nigerian Oil and Gas Industry; Its National Policies and Regulations, A Reflection on the Economy’.
Discussions centred around having a vision for the oil sector policy goals, strategies and an implementation plan for the introduction of an appropriate institutional, legal, regulatory and commercial framework to resolve the barriers currently affecting investment in the sector.
The vision of the policy is to move Nigeria beyond crude oil exports into value-adding activities, namely refining and petrochemical industries.