Uncertainty over future upstream invest- ment in Nigeria shows scant signs of easing. Upstream investment in Nigeria has stalled in the face of long delays to the petroleum industry bill, which has been before legislators since 2008. The bill's prospects look increasingly dim as political parties start to focus on national elections in 2015, and the petroleum min- istry plans yet more regulatory changes. The bill aims to increase the govern- ment's fiscal take from offshore fields and commercialise state-owned oil firm NNPC. But even if it is passed, its imple- mentation will be difficult and may take over a decade to fully execute.
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