AN APPRAISAL OF THE LEGAL FRAMEWORK FOR THE PRIVATIZATION AND REFORM PROGRAMME FOR THE ENERGY SECTOR IN NIGERIA
AN APPRAISAL OF THE LEGAL FRAMEWORK FOR THE PRIVATIZATION AND REFORM PROGRAMME FOR THE ENERGY SECTOR IN NIGERIA
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Date
2012-07
Authors
OMOLUABI, Victor Sunday
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Abstract
This Research Study titled: “AN APPRAISAL OF THE LEGAL
FRAMEWORK FOR THE PRIVATIZATION AND REFORM PROGRAMME
FOR THE ENERGY SECTOR IN NIGERIA” was chosen after a careful review
of the process and nature of the legal framework put in place in some relevant
Nigeria legislations such as the Public Enterprises (Privatization and
Commercialization Act) Laws of the Federation of Nigeria (LFN) 2004 (being
the governing law on privatization of public enterprises) and the Electric Power
Sector Reform Act No 6 2005, which provides the legal framework for the
reform of the Energy Utilities in Nigeria. The Research Study explains the
rationale for the implementation of the Privatization Programme in Nigeria,
discusses the legal framework put in place for its implementation in order to
guarantees investors’ confidence in the privatization programme and processes
which should be open, transparent and sustainable as well as backed up by a
strong will demonstrated by the Government at the centre. The Research Study
provides an overview of the energy sector in Nigeria to include majorly, the
electric power sector and the oil and gas industry and touches on the various
policies and Legal Frameworks established for the privatization and reform of
the Electricity Sector in Nigeria. In the same vein, the research study also
highlight the key provisions of some relevant Laws that guide exploration and
production of oil and gas in Nigeria over the past years such as the Petroleum
Act, 2004 and the Deep Offshore, Inland Basin Production Sharing Contract Act
2004 (DOA), Petroleum (Drilling and Production) Regulations 1995 to name a
few. The Research Study presents a critical appraisal of the various legal
provisions that govern the regulatory institutions, evaluates the achievements or
performance of the regulatory institutions (in relation to their regulatory
mandates) set up to implement the Federal Government of Nigeria’s
privatization programme for the electricity sector and reform of the sector, and
suggest or recommend ways of improving on the effectiveness/efficiency of
these institutions going forward. The Research Study stressed the critical
relevance of the reform of the Energy Sector in Nigeria to the sustenance and
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growth of the national economy and therefore strongly recommend amongst
others, the vigorous execution of the FGN’s reform programme for the energy
sector and the strengthening of regulatory capacities of the agencies and
institutions of Government that have been mandated to execute the said reform
programmes. The Research Study noted that it was therefore imperative that
scheduled timelines for specific privatization milestones are strictly adhered to
and pursued with the seriousness it deserve and for the overall benefit of
Nigerians. The Nigerian Energy Sector has suffered serious setback arising from
poor infrastructure situation and improper handling and management of Energy
Utilities hence the call for a reform of the sector, the objective of this thesis is to
take an academic excursion into the nature of legal framework that exist and
support the privatization and reform of the said Energy sector in Nigeria and
make far reaching recommendations on how to strengthen the governing legal
framework for the Energy sector in Nigeria which for purpose of this study is
restricted to the Electricity Power Sector and to some extent, suggest or make
recommendations on the proposed oil and gas sector reform in Nigeria. This
research work was chosen with the aim of broadening knowledge and academic
literature on privatization and reform of the Energy Sector in Nigeria generally
and in particular, provide a medium for making specific academic contributions
towards developing legal issues arising from the legal framework for the
privatization and reform of the said Energy Sector Nigeria
Description
BEING A THESIS SUBMITTED TO THE
POSTGRADUATE SCHOOL, AHMADU BELLO
UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF
THE REQUIREMENTS FOR THE AWARD OF THE
DEGREE OF MASTER OF LAWS LL.M
DEPARTMENT OF COMMERCIAL LAW
AHMADU BELLO UNIVERSITY ZARIA
JULY, 2012
Keywords
APPRAISAL,, LEGAL,, FRAMEWORK,, PRIVATIZATION,, REFORM,, ENERGY,, SECTOR,, NIGERIA.