Africa Resources Update

This Africa Resources Update takes a brief look at a few recent or forthcoming legislative reforms affecting the energy and natural resources industries in selected countries of West Africa.

The current wave of reforms in Africa attempts to strike the ever-difficult balance between attracting foreign investment and maximizing the government's and local population's participation in the creation of wealth from national resources. Transparency in the management of national resources and the efficiency of governmental intervention are also key drivers for such reforms.

Nigeria: Imminent Adoption of the Long-Awaited Petroleum Industry Bill

It has now been five years—during which licensing rounds, contract renewals, and investment have been put on hold—since the concept of a new Petroleum Act emerged in Nigeria. President Goodluck Jonathan recently announced that the long-awaited Petroleum Industry Bill, which is reportedly aimed at major reform of the Nigerian oil &