Nigeria has taken the lead in rallying African nations towards a unified framework for petroleum regulation, as the country spearheaded the signing of a continental charter aimed at harmonising oil and gas policies across the region.
The charter, endorsed by ministers and stakeholders from key oil-producing countries, was signed during a high-level meeting convened under the African Union framework. The move seeks to foster transparency, attract investment, and strengthen collaboration among African states in managing petroleum resources.
Officials explained that the harmonised regulations will help reduce policy conflicts, ensure fair competition, and promote regional energy security. By aligning legal and fiscal frameworks, the initiative is also expected to boost cross-border investments and streamline operations for multinational oil companies.
Nigeria’s leadership role in the initiative reflects its position as Africa’s largest crude oil producer and a key advocate for reforms that balance revenue generation with sustainable energy practices.
The charter is regarded as a milestone in Africa’s efforts to build stronger economic cooperation in the oil and gas sector, especially at a time when global energy markets are undergoing rapid shifts.
