African Energy Chamber Sponsors Nigerian Judiciary Workshop on Oil and Gas Laws
Nigeria recently launched a new offshore licensing round and commenced operations at three major gas projects as it aims to boost domestic and export supply.
ABUJA, Nigeria — The African Energy Chamber is sponsoring a workshop by Nigeria's National Judicial Institute to educate members of the judiciary on recent changes to oil and gas laws under the 2021 Petroleum Industry Act, writes Winston Mwale.
The chamber, which represents the African energy sector, said the workshop aims to equip judges with comprehensive knowledge of the new regulations.
This will help create an enabling environment, ensure contract sanctity and restore investor and citizen confidence in Nigeria's oil and gas industry.
"A well-informed judiciary not only ensures fair adjudication but also fosters an environment conducive to sustainable investment and equitable growth," said NJ Ayuk, the chamber's executive chairman.
The International Chamber of Commerce estimates Africa loses billions annually to overseas business arbitrations due to delays in court processes and lack of industry-specific knowledge among adjudicators.
The Petroleum Industry Act introduced major changes to fiscal terms, regulations and governance of Nigeria's oil and gas sector.
Ayuk said having judges well-versed in the new rules is crucial for efficiently resolving disputes within Nigeria and the rest of Africa.
The sponsorship aligns with the African Energy Chamber's focus on promoting research and development in the petroleum sector.
Nigeria recently launched a new offshore licensing round and commenced operations at three major gas projects as it aims to boost domestic and export supply.