Oil and Gas
Nigeria. The ownership of oil and all minerals in Nigeria is further reinforced under Section 40(3) of the 1979 Constitution of the Federal Republic of Nigeria.
Since the discovery of oil in Nigeria in 1956, the government, through its appropriate agencies like Nigerian National Petroleum Corporation (NNPC), Ministry of Petroleum Resources and Federal Environmental Protection Agency (FEPA), has put in place a number of policies, agreements and regulations for the control and supervision of the oil industry for the overall economic development of the country. Notable policies and agreements in place include : Joint Ventures, Production Sharing Control (PSC), Service Contract and Memorandum of Understanding (MOU).
EXPORT GUIDELINES FOR OIL AND GAS AND NON-OIL
The following procedures shall apply from 1st February, 2007 in respect of all exports from Nigeria.
(1)All goods (including oil/its derivatives and non-oil goods) exported from Nigeria shall be subject to inspection by Inspection Agent(s) appointed for that purpose by Government.
(2)All exports exempt from inspection by the Inspection Agents(s) are listed in SCHEDULE