A new report – the Benchmarking Exercise Report (BER) 2019 – by the Nigerian Natural Resource Charter (NNRC) has said it is unlikely that Nigeria will become a net exporter of petrol this year as planned by the federal government. The report which was unveiled recently in Abuja, studied Nigeria’s progress in accordance with 12 select precepts chosen to determine the country’s progress in her oil and gas industry. It explained that so far, existing conditions do not suggest that the country would meet her target of becoming a net petrol exporter in 2020. The NNRC’s 12 BER precepts included strategy, legal framework, and institutions; transparency and accountability; exploration, licensing, and monitoring operations; taxation and other company payments; local impacts; and state-owned enterprises. It also had for considering investing for growth; public spending; private sector development; the role of extractive companies and the role of international community […]