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Browsing by Author "OLUJOBI, Olusola Joshua"

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Annulment of Oil Licences in Nigeria’s Upstream Petroleum Sector: A Legal Critique of the Costs and Benefits
(International Journal of Energy Economics and Policy, 2017) OLUJOBI, Olusola Joshua; Oyewunmi, Olabode Adeleke
Owing to various reasons, tenable and untenable, successive governments in Nigeria have annulled licenses duly granted to identifiable upstream petroleum operators. With due sense of circumspect, when irregularities manifest in the process and the grant of substantive licences, such does not vest in the government an unfettered right to annul the licence. There are evidences of such occurrence in spite of established procedures regulating annulments, commonly referred to as revocation or cancellation. This paper is a critique of the annulment of oil licenses and the associated contractualregulatory dimensions. The validity of the Federal Government’s actions also comes to the fore, particularly in the light of renewed drive to attract investments into the upstream sector. Thus, as some benefits are accruable to the players, it is also important to appraise the consequential costs attributable to undue annulment of oil licenses. The paper adopts a descriptive analytical method of available facts, expounds requisite statutory provisions and utilizes judicial precedents to highlight the context of the study. It is imperative that the Federal Government adheres to established procedures on oil license annulment, as a contrary posture will amount to several negative outcomes.
Application of the Laws of Defamation and Sedition in Nigeria's Jurisprudence: Still Relevant?
(Journal of Advanced Research in Law and Economics,, 2017-03) IYOHA, Odianonsen Francis; OLUJOBI, Olusola Joshua; OYEWUNMI, Olabode A.
The prevalence of defamatory and seditious statements in Nigeria prompts some degree of investigation. These actions typically occur on the platforms of radio, television, public debates, political meetings as well as other public gatherings Moreover, several persons indulge in this illegality under the 'guise' of exercising their constitutional right of expression. The objective of this paper is to ascertain the continued relevance of the law of defamation and sedition in Nigeria, coupled with a need to overhaul the legal framework in this respect. Hence, due engagement with mass media organizations and civil society groups provides a veritable mechanism to mitigate incidences of defamation and sedition.
THE APPRAISAL OF LEGAL FRAMEWORK REGULATING GAS FLARING IN NIGERIA’S UPSTREAM PETROLEUM SECTOR: HOW EFFICIENT?
(International Journal of Civil Engineering and Technology (IJCIET), 2019-05) OLUJOBI, Olusola Joshua; Olusola-Olujobi, Temilola
Nigeria is ranked one of the main producers of crude oil in Africa and due to this, oil exploration activities have occasioned high rate of gas flaring which was intensified by poor enforcement of anti-gas flaring laws by the regulatory authorities. Associated natural gas is generated from oil production and it is flared in large volumes, thereby leading to the emission of greenhouse gases and a waste of natural resources which could have potentially spawned billions of dollars for the Federal government. Nigerians are apprehensive that if nothing is done to combat this menace, the environment and man will be at risk due its damaging consequences. There is therefore the need to stop gas flaring by replicating the approaches used in the relatively advanced petroleum countries like Norway to tackle the menace. The research is an appraisal of legal frameworks regulating gas flaring in Nigeria’s Upstream Petroleum Sector. It is a doctrinal legal research that adopts a library based research approach. Weak enforcement and ambiguity of some anti-gas flaring laws are largely identified as the key factors responsible for the menace. It recommends the use of more advanced technologies, sophisticated mixture of regulations and none-regulatory incentives such as fiscal policies, gas market restructuring and proffer practical suggestions.
Change management and capacity utilisation: A critical requirement for business sustainability among small and medium-sized enterprises (SMEs) in Nigeria
(International Journal of Innovation, Creativity and Change., 2020) Ufua, Daniel E.; Osabohien, Romanus, A.; Imhonopi, David; OLUJOBI, Olusola Joshua; Ogbari, Mercy.E.
This study focuses on the practice of change management and operational resilience among Small and Medium Enterprises (SMEs) in Nigeria. The research adopts an empirical approach, relying on secondary data sourced from the 2014 enterprise survey of the World Bank and applied the logit regression analysis. Results showed that product development and experience are statistically significant and positively related to capacity utilisation. While political instability, spoilage (loss of product in transit, due to theft, breakage or spoilage) and financial constraint are negatively related to capacity utilisation. This implies that the increased level of product development is capable of increasing capacity utilisation by approximately 0.4, 0.5 and 0.7 units, respectively. In the same way, the manager's experience increase capacity utilisation by 0.44units, which conforms to the ‘a priori’ expectation, for managers to be resilient, the experience is highly required. Similarly, the results show that political instability is statistically significant and has negative (0.61, 0.69, 0.50, 0.80 and 0.65) impacts on capacity utilisation. Based on findings, the study recommends the need for further research to consider other approaches such as longitudinal research, comparative research to unearth learning about the factors that affect change management practice. It is also suggested for further research to consider critical change management effects such as resistance and ethical balance in practice, especially in developing economy like Nigeria.
Combating insolvency and business recovery problems in the oil industry: proposal for improvement in Nigeria's insolvency and bankruptcy legal framework
(Heliyon, 2021-01) OLUJOBI, Olusola Joshua
Insolvency and business recovery laws in Nigeria have not evolved to incorporate reorganisation, reforming insolvent oil firms' operations to boost commercial oil firms' steadiness and economic suitability like other moderately developed countries. In Nigeria, liquidation is understood by many as the panacea to indebtedness. The research evaluates the Nigerian insolvency and business recovery legal regime to sustain indebted oil firms from economic shocks due to the global decline in the oil price to avert imminent business failures due to insufficient cash flows. The aim is to fill the gaps in Nigeria's insolvency and business recovery laws by recommending a model for the sustenance of oil firms and to suggest the reform of the gaps identified in the existing laws and the extant literature on the subject. The paper opted for conceptual legal review, comparative legal and policies analyses of solvency and business recovery legislations in Nigeria, Malaysia, India, South Africa, the United Kingdom and the United States. These nations were designated for this study because their insolvency and business recovery legal regime are business rescued driven, not winding up centred. The study is library researchbased to address some of the flaws in Nigeria's insolvency and business recovery laws. The study finds that Nigerian legislation on insolvency is flawed in oil firms' salvage, improvement and rearrangement. It ends that, statutory bodies in the designated case study nations are efficient than those in Nigeria due to the strong political will of their governments in supporting insolvent oil firms for successful financial recovery, to safeguard jobs, to protect creditors and to enhance the wealth of their nations through sound business recovery policies and laws. The study, advocates, remodel of Nigeria's insolvency and business recovery legislations and policies in compliance with the international standards on insolvent oil firms salvaged and creditors focused policies for a robust economy. The study concludes with the recommendation for further study to consider quantitative analysis research methodology to project further scholarship on the subject.
Commercial Dispute Resolution: Has Arbitration Transformed Nigeria's Legal Landscape?
(2018-03) OLUJOBI, Olusola Joshua; ADENIJI, Adenike A.; OYEWUNMI, Olabode A.; OYEWUNMI, Adebukola E.
The adoption of arbitration in the light of its well established attributes promotes confidence levels in the general businesses environment, enhances institutional trust, whilst also developing practical compromise resolution mechanisms. However, Nigeria, a developing economy has not matched policy intent with commercial realities, particularly in terms of broad based integration and utilization of arbitral tools. This trend is not sustainable in the light of the renewed efforts to promote enhanced justice delivery; lower administrative costs and the urgent need to optimize the capabilities of the judicial arm of government. The paper assessed specific arbitral provisions of selected, State High Court Civil Procedures Rules, and on this basis critiqued the arbitral visibility and incorporation relative to established legal processes. Amongst other salient issues, a robust application of arbitration is recommended especially in view of the peculiarities of Nigeria's legal processes, judicial institutions, evolving political and social-economic indicators.
COMPARATIVE APPRAISAL OF ANTICORRUPTION LAWS: LESSONS NIGERIA CAN LEARN FROM NORWAY, UNITED KINGDOM AND UNITED STATES’ ANTI-CORRUPTION STRATEGIES
(International Journal of Management (IJM, 2020-07) OLUJOBI, Olusola Joshua; OLUJOBI, Oluwatosin Michael
The study undertakes comparative legal and policy analyses of corruption in the upstream petroleum sectors of Nigeria, Norway, the United States, and the United Kingdom. These countries were selected as case studies because they are rich in petroleum resources with favourable Transparency International annual rankings and due to their status as relatively advanced petroleum jurisdictions with stringent anticorruption laws. The study is a doctrinal legal research that adopts a point-by-point comparative approach with library research method. The study reveals that corruption thrives on the weak enforcement of anti-corruption laws and lack of political will in providing effective regulatory intervention. In conclusion, the study finds that anti-corruption agencies in the selected countries are more effective because of their governments’ political will to combat corruption, as well as adequate or sufficient budgets and the strict enforcement of their laws in contrast to Nigeria. It recommends among other reforms, soft law approach and strict enforcement of anticorruption laws for transparency in the upstream petroleum sector of Nigeria.
Comparative appraisals of legal and institutional framework governing gas flaring in Nigeria’s upstream petroleum sector: How satisfactory?
(Environmental Quality Management, 2020-07) OLUJOBI, Olusola Joshua; Olusola-Olujobi, Temilola
Nigeria is rated number one producer of crude oil in Africa, and owing to this oil exploration activities have resulted to a high rate of gas flaring, which was intensified by poor enforcement of anti-gas flaring laws by the regulatory authorities. Associated natural gas is generated from oil production, and it is flared in large volumes, thereby leading to the emission of greenhouse gases and a waste of natural resources which could have possibly generated billions of dollars for the Federal Government of Nigeria. There are concerned that if nothing is done to curtail this menace, the environment and man will be at peril due its negative consequences. There is therefore the need to abate gas flaring by replicating the strategies applied in the selected relatively advanced petroleum countries to combat the menace. The study is a comparative analysis of national legal regimes on gas flaring in Nigeria, Canada, the United Kingdom, and Saudi Arabia. The study adopts a doctrinal legal research method with point-by-point comparative approach with library-based legal research method. Weak enforcement of laws is largely identified as the key factor responsible for the menace. The study recommends the use of more advanced technologies, a sophisticated mixture of regulations and nonregulatory incentives such as fiscal policies and gas market restructuring. It offers further suggestions based on the lessons learnt from the selected case study countries.
COMPARATIVE EFFECT OF SELECTED TREE LEGUMES ON PHYSICO-CHEMICAL PROPERTIES OF AN ALFISOL IN EKITI STATE
(ARPN Journal of Agricultural and Biological Science, 2016-03) OLUJOBI, Olusola Joshua
Soils in the tropics commonly suffer from multiple nutrient deficiencies due to continuous cultivation. The negative impact of in organic fertilizer on soil and environment appears to have made its application on soil to be less effective. This study thus examined the effect of tree legumes on physio-chemical properties of an alfisol. Soil samples from three year fallows of Senna siamea, Gliricidia sepium, Leucaena leucocephala and natural fallow were collected at 0- 15 cm and 15-30 cm depth. The samples were analyzed using standard laboratory procedures. The result revealed that leguminous species improved the textural class of the soil from loamy sand to sandy loam at 0-15 cm depth. Bulk density along the soil depth increases under agroforestry species fallows than the natural fallow. Chemical properties along the soil depths significantly (p < 0.05) improved under leguminous fallows with pH range (7.02-7.19), N (0.61% - 2.79%) and P (211.71ppm - 242.11ppm) when compared with the soil under natural fallow with pH (5.96 - 6.77), N (0.10% - 0.73%) and P (206.15ppm-224.88ppm) Also there is a significant reduction in values of Na (66.29ppm- 50.48ppm ) and K (75.52ppm -52.22ppm) in soils under agroforestry species along the soil depth, when compared with natural fallow Na(74.21ppm - 67.83ppm) and K (90 .0ppm - 76.66 ppm).
Corporate Regulation of Unethical Practices: Assessment of Nigeria’s Commercial Banking Industry
(International Journal of Economics and Financial Issues, 2017) Oyewunmi, Olabode A.; Olusanmi, Olamide; OLUJOBI, Olusola Joshua; Adegboye, Folashade
Evidently, a culture of due compliance has been eroded on multiple levels within Nigeria’s commercial banking industry. Hence, corporate values and professional ethics are being sacrificed on the grounds of; being competitive, returning impressive profit margins and increasing market share. Historical antecedents and emerging trends indicate the long term adverse effects of corporate malpractices, especially when left unmitigated by affected stakeholders. The appreciable decline in global oil prices has reenergized corporate regulatory oversight in Nigeria. The aim in this regard and as widely publicized; is to sanitize the wider business environment and importantly renew the public trust, domestically and internationally. Apparent trends of insider dealing practices subsist in Nigeria’s banking industry, even though very limited conclusive cases are available for exhaustive analysis. This fact is further validated by the various interventions of the requisite regulatory agencies, coupled with the local and international commentaries in this regards. Instructively, deployment of statutory-oversight by the requisite agencies has prevented a systemic collapse of banking industry. The paper also succinctly explored the essence of the stakeholder theory, as a basis to validate the necessity of corporate regulatory intervention. Relevant evidences, specific statutes and others verifiable sources utilized to expound on the theme of the paper. It is opined that there must be active collaborations between corporate stakeholders and the regulatory structures, particularly against the backdrop of Nigeria’s unfolding socio-economic peculiarities.
A CRITICAL APPRAISAL OF LEGAL FRAMEWORK ON DEREGULATION OF THE DOWNSTREAM SECTOR OF THE NIGERIAN PETROLEUM INDUSTRY
(International Journal of Management (IJM), 2020-06) OLUJOBI, Olusola Joshua; OLUJOBI, Oluwatosin Michael; UFUA, Daniel E.
The study seeks to explore the need for total deregulation of the downstream sector of the Nigerian petroleum industry to address inefficiencies in the sector to promote adequate supply of petroleum products through regulatory reforms and by making reference to the experiences of other relatively advanced jurisdictions to strengthen Nigeria’s downstream petroleum sector’s laws. The work adopts a conceptual approach relying on extant literature with the application of the doctrinal legal research method. The study also makes use of primary and secondary sources of laws such as statutory and judicial authorities. The key finding is the overbearing presence of the Federal Government in the sector and inappropriate pricing of petroleum products which have made the sector unattractive to private investors due to excessive regulation of the sector. The research proposed a model to end incessant hike in the price of fuel. The research ends with suggestions based on the findings the need for sophisticated mixture of regulations and non-regulatory incentives for investments in the sector and advocates speedy passage of the Petroleum Industry Governance Bill to encourage private investors and to eliminate subsidy regime being a source of corruption in the sector.
Effect of Wildlife Species on the Activities of Agroforest Farmers in Ekiti State
(Journal of Agriculture and Environmental Sciences, 2013-01) OLUJOBI, Olusola Joshua; Sale, F .A; Akande, O. M.
Continued reduction and fragmentation of natural habitat and feeding site for wildlife species through man’s developmental activities, has led to the encroachment of wildlife population into the adjacent farm land to search for food, thereby leading to destruction of agroforestrytrees and crops.This study examined the effect of wildlife species on activities of agroforest farmers in Ekiti State forest reserves. The study area was stratified on the basis of vegetation into two zones (rain forest and derived savannah zones). Eighty pretestedquestionnaireswererandomly administered to farmers for collection of data. Information obtained revealed that majority of the respondents are married (93%), middle age (50%) men (60 %). Mammals and aves contitutes the highest group of animals present.The respondents opined that wildlife species impact both negatively and positively on their trees and crops. Some of the damages done by wildlife to trees and crops includes; cutting, uprooting, trampling, defoliation, browsing of young shoot and leaves and plucking of fruits.Finally the result shows that control measure such asthe use of dog, chemical, trapping, scared off by guards, hunting, poison,use of charm and use of human statue, were employed to checkmate the activities of these animals on farmers farmlands.
Fundamental Human Rights, Polices of a Nigerian Private Mission University and the Safety of Students: Critical Analysis
(The Journal of Social Sciences Research, 2018) Omonijo, Dare Ojo; OLUJOBI, Olusola Joshua; Anyaegbunam, Michael Chibuzor; Nnatu, Stella Obioma; Adeleke, Victoria Ajibola
This article employed secondary data to critically examine policies, mission and vision of a private mission university in line with fundamental human rights and the safety of students. The high rate of violence and criminal activities across Nigeria seems to have given credence to such policies in as much as such policies emphasize students‟ safety and development. Therefore, academic freedom and students‟ fundamental human rights should be exercise within the policies designed to ensure students safety and development. In the past and in recent times, studies have explored several areas of student safety and development, most especially in developed nations where priority is placed on student affairs administration, but such efforts are yet to be examined in the literature emanating from Nigeria despite several criticism against the policies of the university. Contrary to the belief of many critics, violation of fundamental human rights does not exist in the university under study; instead, stringent policies and procedures attached to the actualization or implementation of such policies are in existence to safeguard students‟ safety and development. The study argued that the failure of some students to comply with the procedures attached to these policies seem to have created a scenario of violation which critics contend with. Thus, a stern look at these policies and their applicability to students‟ matters would have been better understood and appreciated instead of condemnation. However, the paper argued that implementation of policies should be exercised with caution, largely because disciplinary power is a sensitive issue and those exercising it must do so with thoughtfulness and in absolute good faith and in accordance with the rule of law.
INSOLVENCY LAW AND BUSINESS RECOVERY PRACTICES IN NIGERIA’S UPSTREAM PETROLEUM SECTOR: THE NEED FOR A PARADIGM SHIFT
(International Journal of Mechanical Engineering and Technology (IJMET), 2019-01) OLUJOBI, Olusola Joshua; Olusola-Olujobi, Temilola
Insolvency and business recovery practices are not at infancy stage in Nigeria, although it has not crystallized to a full profession as it is practiced in other relatively advanced climes. As the global financial sector evolves, the focus of modern insolvency and business recovery practices have shifted from winding up of insolvent oil companies to reorganization, restructuring of such companies and its operations to foster economic stability and financial propriety. But the case is the reverse in Nigeria, as liquidation is seen as the panacea to insolvency. The study evaluates Nigerian insolvency and business recovery laws to sustain modern businesses practices to prevent incessant corporate failure. Many jurisdictions are now overhauling their insolvency and business recovery laws to support business practices and to reform the gaps identified. The study conducts comparative legal and policy analyses of solvency and business recovery laws in Nigeria, Malaysia, India, South Africa, United Kingdom and United States. These countries were selected because their insolvency and business recovery laws are business rescue driven. The study is a doctrinal legal research that adopts a point-by-point comparative approach with library research method. The study finds that Nigerian law on insolvency seems deficient with regard to business rescue, turnaround and restructuring. It concludes that, regulatory agencies in the selected countries are more effective than those in Nigeria because of the political will of the governments of the former to successfully turn around insolvent oil companies, save jobs and protect creditors by optimising businesses through restructuring and business turnaround strategies. The study therefore recommends reform of Nigeria’s insolvency and business recovery law and practices in conformity with the global best practices on insolvent companies rescued and creditors driven strategies for healthy economy.
Legal Framework for Combating Corruption in Nigeria -The Upstream Petroleum Sector in Perspective
(Journal of Advanced Research in Law and Economics, 2017-06) OLUJOBI, Olusola Joshua
Corruption in the Nigeria's upstream petroleum sector is a serious concern and a major challenge facing Nigeria. Successive governments in Nigeria have fought corruption for decades with insignificant success. The paper examines how Nigeria's anti-corruption legal regime can eradicate corruption in the sector and critically assesses our national anti-corruption laws. The writer adopts analytical method by placing reliance on secondary data such as academic journals, articles, statutes and textbooks. The writer discovers that, the challenge is not only with the existing anti-corruption legal regime but enforcement of the laws to achieve the desired objectives of combating corruption. The writer finds that, what is required on the part of the government in addition to legislative and institutional reform strategies is the strong political will to prosecute the alleged corrupt offenders and implementation of the letter and spirit of the law against corruption. The writer further discovers that, national anti-corruption laws are the most effective legal instruments that can address corruption in the sector. The paper therefore suggests some new measures that could be implemented to eradicate corruption such as improvement on some national laws to boost transparency, probity in the sector which is believed will reduce if not eliminate corruption in the sector.
The legal sustainability of energy substitution in Nigeria’s electric power sector: renewable energy as alternative
(Protection and Control of Modern Power Systems, 2020) OLUJOBI, Olusola Joshua
Non-renewable fuel sources have been the predominant energy sources and a significant source of foreign exchange income for Nigeria, while at the same time there is a severe problem of electricity inconsistency and persistent power blackouts in Nigeria. The research aims to end the concern for deficient energy use, and to encourage energy efficiency and sustainability. Nigeria has not maximized the advantages of renewable energy after the denationalisation of its electricity industry despite the current transformation in the power industry and the rising demand for renewable energy supply. The research adopts a doctrinal legal approach with a library-based legal research technique with a comparative legal method. It reveals that the absence of a comprehensible legal regime with encouragement for the use of renewable energy is the fundamental element causing the slow utilization of renewable energy as a substitute source of energy in Nigeria. It is suggested that, among other reforms, there is a need for a comprehensible legal regime on renewable energy and the encouragement of strict implementation of energy regulatory strategies and policies with incentives for the application of renewable energy sources in Nigeria.
Oil Spillage in Nigeria’s Upstream Petroleum Sector: Beyond the Legal Frameworks
(International Journal of Energy Economics and Policy, 2018) OLUJOBI, Olusola Joshua; Oyewunmi, Olabode A.; Oyewunmi, Adebukola E.
The adoption of a broad based sustainable development strategy, underpinned by prudent management of oil resources, coupled with an enduring model for conservation of the natural environment, is an imperative for the Nigerian State. Thus, the paper identifies specific gaps in Nigeria’s environmental legal frameworks and shares critical international perspectives. The study entailed a descriptive legal analysis and utilizes relevant secondary sources. The paper opined that majority of oil spills in Nigeria are not usually addressed in the light of obtainable best practices, inspite of the negative environmental, health and socio-economic consequences. It emphasizes the government’s overarching obligation to enforce applicable environmental laws and regulations. Also captured, is the corresponding responsibility of oil operators to ensure due compliance with their corporate obligations and by implication contributing to the achievement of fundamental environmental protection benchmarks. The paper recommends a holistic reform of relevant laws on the integral oil spillage subject matter
Operations of small and medium enterprises and the legal system in Nigeria
(Nature: Humanities and Social Sciences Communications, 2020-09) Ufua, Daniel E.; OLUJOBI, Olusola Joshua; Ogbari, Mercy E.; Dada, Joseph A.; Edafe, Oluwatosin D.
This research explored the effects of the legal system on SMEs operations in the Nigerian economy. The study aimed to address the gap in literature discussing the legal system and SMEs’ operations in Nigeria. It focused on learning about the current level of support of the legal system for SME operations and as well as suggesting an approach to enhance effective SMEs’ operations in Nigeria further. The current study applied a conceptual review, relying on extant literature relating to the antecedence of the Nigeria legal system, focusing on the critical factors affecting SME practices in Nigeria. A key finding is the importance of the legal system functions to SMEs practice in Nigeria. It also highlighted the weaknesses of the legal system in providing the needed backing and conducive business environment for SMEs in Nigeria. A model was proposed, depicting the need for restructuring of the legal system, improvised support of other government functionaries and other relevant stakeholders, to facilitate SMEs’ operations and enhance their contributions to the Nigerian economy. The research ends with the suggestion for further research to consider other research methodological approaches, the development of alternative dispute revolutionary measures, as well as a comparative study involving two or more economies in order to project further learning on the legal system and SMEs’ operations.
Optimization by Integration: A Corporate Governance and Human Resource Management Dimension
(International Review of Management and Marketing, 2017) Oyewunmi, Olabode Adeleke; Osibanjo, Omotayo Adewale; Falola, Hezekiah Oluwabusayo; OLUJOBI, Olusola Joshua
Contemporary business entities that are keen to achieve measurable growth can no longer rely on inflexible corporate management frameworks for running their affairs. This viewpoint is adduced in the light of the emergence and re-emergence of unpredictable and likewise complex operating contexts. Notwithstanding the connected legal, financial, economic and social issues; business concerns must devise innovative ways to sustain holistic performance levels. Moreover, corporate and regulatory interests must collaborate to effectively mitigate corporate failures attributable to various business concerns. In furtherance of the debate on the nexus between corporate governance and human resource management, this paper presented a conceptual model that aggregates specific aspects of business processes that synergizes both concepts. Practical perspectives on the interrelatedness between corporate governance and human resource management provide a veritable basis to explore the theme of this paper. The paper opined that an appropriate balance must be achieved with regards to identifiable and fundamental aspects of the corporate structure and process. It was recommended that a diverse model of corporate integration enhances the functionalities of the corporate entity; facilitates optimization processes, thereby contributing to long term sustainability and growth. The central role of human actors in the governance of business entities is also duly emphasized, as this viewpoint underlies the essence of integrating the two concepts in general and specific terms.
PROMOTING OIL AND GAS INDUSTRY CONTENT DEVELOPMENT ACT, 2010: A REVIEW OF THE PROSPECTS, CHALLENGES AND THE WAY FORWARD
(MUNFLJ, 2021) OLUJOBI, Olusola Joshua
The Act aims to intensify Nigerian companies' involvement in the oil and gas industry by repositioning the Nigerian energy sector towards maximizing the benefits of the law to enhance local capacity. However, the government political will has not been demonstrated to achieve this via effective monitoring and implementation of the Act for sustainability for Nigerians and future generations' benefits. The research adopts library-based doctrinal legal research techniques with a conceptual legal approach with primary sources such as case laws, stare decisis, and secondary bases, for instance, schoolbooks and academic journals written by renowned legal scholars.The main finding of study is the absence of close monitoring and weak enforcement of the Act by the Nigerian Content Development and Monitoring Board which is a challenge that should be combated. The Board and other regulatory bodies' inability to bridge the capacity disparity hamper oil and gas international businesses from conforming with the Act. The study designed a hybrid model for transforming Nigeria's oil and gas sector to promote efficiency and to increase indigenous human capacity participation in the sector. The study recommends the need to amend the law in conformity with the International Trade and Investment Treaties, which Nigeria is a signatory. The study advocates research and development to encourage technological progress that will break new grounds and enhance local content. A brief summary and potential implications of the study were stated. The study ends with the suggestion for more researchers to utilise the quantitative method to propel more research on thisarea of law.

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