Energy analyst Kelvin Emmanuel has stated that the Nigerian government’s new executive directives aimed at improving cost efficiency in the upstream oil sector will not resolve deeper structural and economic challenges, particularly in onshore operations where high costs and inefficiencies persist.
This was made known during an interview on Arise TV’s Business Week on Saturday.
Emmanuel highlighted that while the new Cost Efficiency Incentive (CEI) may help offshore fields, significant challenges remain for onshore oil operations.