Maybe so, but theyt still are under the influence of foreign oil companies thru the PSAs.


Nigerian President Umaru Yar'Adua is to scrap the state-owned oil corporation and restructure the industry.

A national energy council will instead be established to oversee the notoriously corrupt oil sector.

The council, headed by the president, has six months to create five new organisations out of the Nigerian National Petroleum Corporation (NNPC).


LINK

The new reforms were recommended by a government report seven years ago but never implemented.

It looks like their political system works at the same pace ours does.

New president, new approach--but he will not do away with all the corruption. And the oil industry will remain the most corrupt of all the Nigerian institutions.

A national energy council will instead be established to oversee the notoriously corrupt oil sector.

It sounds like they are putting a fox in charge of guarding the henhouse.

None of this moving sh*t around will effect the hold that foreign companies havde on the Nigerian oil industry. It is for show and to maximize the elites money flow.