I am currently studying the new Act to find out cogent areas that were expected to be solved by the new law.

1. Who owns the petroleum resources in Niger Delta - the people or the government. I am still scooping for the replacement to Section 1 of the Petroleum Act 1969.
2. What will be the status of NNPC - in theory and practice. Would it be a version of pre-1977 NNPC Act?
3. What will be the new fiscal regime? What makes up accessible profit. Tax regime etc.
4. Who regulates the sector? Has DPR gotten her autonomy? Has NNPC been fully commercialized? What has happened to the dream of have a type of API (American Petroleum Institute) in Nigeria - Has the law succeeded to give us NPI (Nigerian Petroleum Inspectorate)?
5. Has PTI (Petroleum Training Institute) been captured in the act? Is PTI Act repealed? Where is our position in OPEC? What happen to local content? What is the journey of nationalization and indigenization of multinationals.

Please if you have an answer to any of these questions, feel free to comment

Ajuju