Regulatory Compliance and Government-Business Relations in the Oil and Gas Sector: Lessons from Nigeria for United States Energy Policy and Global Trade (2022)

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Nneka Peace Benjamin
Bob and Sil Global Services Ltd, Abuja, Nigeria
Published: Nov 10, 2025

Abstract: In Nigeria, the oil and gas sector is essential to global economic stability, powering industries, transportation, and trade. The oil and gas revenues make up a major share of government income and exports, but the sector has long suffered from weak regulation, corruption, and overlapping institutional mandates that discouraged investment and slowed growth. However, this review paper examines Nigeria’s regulatory reforms, with a focus on the Petroleum Industry Act (PIA) 2021, which streamlined agencies, improved fiscal transparency, and introduced Host Community Development Trusts to promote local benefits and reduce conflict. These measures have strengthened investor confidence, enhanced policy coordination, and encouraged new investment in the gas infrastructure, refining, and local content development.Hence, the study also draws lessons for United States energy policy, with emphasis on the importance of regulatory certainty, stakeholder engagement, and transparent governance in balancing energy security with climate goals. Furthermore, Nigeria’s experience shows that efficient regulation and strong government-business collaboration can speed up project delivery, reduce conflict, and turn natural resource wealth into a driver of sustainable economic growth.
Regulatory Compliance and Government-Business Relations in the Oil and Gas Sector: Lessons from Nigeria for United States Energy Policy and Global Trade (2022). (2025). International Journal of Latest Technology in Engineering Management & Applied Science, 14(10), 426-431. https://doi.org/10.51583/IJLTEMAS.2025.1410000055

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Regulatory Compliance and Government-Business Relations in the Oil and Gas Sector: Lessons from Nigeria for United States Energy Policy and Global Trade (2022). (2025). International Journal of Latest Technology in Engineering Management & Applied Science, 14(10), 426-431. https://doi.org/10.51583/IJLTEMAS.2025.1410000055