In a recent oil and gas convention a writer has this to say.....

"The Nigerian oil industry has been shrinking. It is an open secret that the major international oil companies (IOCs) are divesting their (especially onshore) assets. More alarmingly exploration activity in frontier areas (Deepwater Niger Delta, Benin Basin and the inland basins) have waned. Among the IOC staff there’s a certain tension and insecurity as divesting implies downsizing (Shell for instance plans to cut 70% of staff ). Added to this is the significant drop in Nigerian oil production related to insecurity and oil theft and the concurrent growth and emergence of competitors in West (Ghana, Cote d’Ivoire and Liberia), Central (Angola, Gabon and Equatorial Guinea) and East (Kenya, Uganda, Tanzania an'd Mozambique) Africa.''

The investment climate in Nigeria is currently not certain for the IOCs, It is clear that they are waiting for the passage of the long overdue Petroleum Industry Bill (PIB).

As i write this Chevron,Agip,Shell and co are currently downsizing, while the National Assembly vested with the responsibility of passing the PIB are busy playing tribal politics, while the FGs effort to reduce unemployment and improve our nations economy is compromised...GOD SAVE US