Short Communication - Journal of Finance and Marketing (2020) Volume 4, Issue 5
Comparative Assessments of Legal and Institutional Regime on Gas Flaring in Nigeriaâ??s Upstream Petroleum Sector: How Adequate?
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. Results: Weak enforcement of laws is largely identified as the key factor responsible for the menace. It recommends the use of more advanced technologies, sophisticated mixture of regulations and non-regulatory incentives such as fiscal policies, gas market restructuring. The enforcement of laws needs more efficiency on the part of human, regulatory, and statutory authorities. We also observed the absence of advanced technologies to capture flared gas for electricity generation and to eliminate gas flaring in the sector and the delay in the passage of the pending Petroleum Industry Governance Bill 2017 to encourage private investors in the sector. Conclusions, the study proffers further suggestions based on the lessons learnt from the selected case study countriesAuthor(s): Olujobi, Olusola Joshua