The president’s first term fell short of the changes needed to modernize the sector. Can he make headway in his second?

Muhammadu Buhari, re-elected as president of Nigeria in February, has a second four-year term to revive the economy and address the needs of the country’s ailing oil and gas sector. But to do so, he will need to push through complex regulatory reform and take on deeply entrenched vested interests in politics and industry that have long profited from the status quo, and have significant capacity to resist change.

Oil production remains lower than it was 15 years ago. State-owned refineries operate at a fraction of their capacity, and Nigeria has struggled to remain competitive in a global market where heavy crude is driven by US sanctions and light sweet crude dominated by US shale.

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