Retracted: Comparative appraisals of legal and institutional framework governing gas flaring in Nigeria's upstream petroleum sector: How satisfactory?

Olujobi, Olusola Joshua; Olusola-Olujobi, Temilola

doi:10.1002/tqem.21680

Cited by 11 publications

(14 citation statements)

References 6 publications

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“…Nigeria's, Investment and Securities Act and others corporate business laws and regulations with a conducive business environment with business-friendly regulatory framework. The reform should provide more opportunities for SMEs growth, development to safeguards it from winding up or liquidation by encouraging business turnaround or restructuring strategies, flexible negotiations creditors on loans payment plans and reduction of excessive taxes and other regulatory hurdles with adequate incentives to encourage investments in the country (Olujobi and Olusola-Olujobi, 2020). This can also support SMEs business recovery and turnaround strategies to save it from insolvency, to maintain jobs and to build economic resilience against economic crises or shocks in Nigeria (see Olujobi and Olusola-Olujobi, 2019).…”

Section: Discussion Of Findingsmentioning

confidence: 99%

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Operations of small and medium enterprises and the legal system in Nigeria

Ufua

Olujobi

Ogbari

et al. 2020

Humanit Soc Sci Commun

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This research explored the effects of the legal system on SMEs operations in the Nigerian economy. The study aimed to address the gap in literature discussing the legal system and SMEs’ operations in Nigeria. It focused on learning about the current level of support of the legal system for SME operations and as well as suggesting an approach to enhance effective SMEs’ operations in Nigeria further. The current study applied a conceptual review, relying on extant literature relating to the antecedence of the Nigeria legal system, focusing on the critical factors affecting SME practices in Nigeria. A key finding is the importance of the legal system functions to SMEs practice in Nigeria. It also highlighted the weaknesses of the legal system in providing the needed backing and conducive business environment for SMEs in Nigeria. A model was proposed, depicting the need for restructuring of the legal system, improvised support of other government functionaries and other relevant stakeholders, to facilitate SMEs’ operations and enhance their contributions to the Nigerian economy. The research ends with the suggestion for further research to consider other research methodological approaches, the development of alternative dispute revolutionary measures, as well as a comparative study involving two or more economies in order to project further learning on the legal system and SMEs’ operations.

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Section: Discussion Of Findingsmentioning

confidence: 99%

“…Sections 54-59 of the Act provide for compulsory registration of securities and investments of SMEs that are registered as public companies. It regulates their investments, securities commodity exchanges and offer of securities by SMEs to safeguard investors' interest (Olujobi and Olusola-Olujobi, 2020).…”

Section: Methodsmentioning

confidence: 99%

Operations of small and medium enterprises and the legal system in Nigeria

Ufua

Olujobi

Ogbari

et al. 2020

Humanit Soc Sci Commun

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“…are the trailblazers in renewable energy growth and utilization, with proper legislation. In contrast, the Federal Government of Nigeria is yet to legislate a comprehensive law on renewable energy, while the predominant rules on renewable energy are dispersed in numerous policies and strategies which are incoherent and ambiguous in scope [18].…”

Section: Statement Of Research Problemsmentioning

confidence: 99%

The legal sustainability of energy substitution in Nigeria’s electric power sector: renewable energy as alternative

Olujobi

2020

Prot Control Mod Power Syst

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Non-renewable fuel sources have been the predominant energy sources and a significant source of foreign exchange income for Nigeria, while at the same time there is a severe problem of electricity inconsistency and persistent power blackouts in Nigeria. The research aims to end the concern for deficient energy use, and to encourage energy efficiency and sustainability. Nigeria has not maximized the advantages of renewable energy after the denationalisation of its electricity industry despite the current transformation in the power industry and the rising demand for renewable energy supply. The research adopts a doctrinal legal approach with a library-based legal research technique with a comparative legal method. It reveals that the absence of a comprehensible legal regime with encouragement for the use of renewable energy is the fundamental element causing the slow utilization of renewable energy as a substitute source of energy in Nigeria. It is suggested that, among other reforms, there is a need for a comprehensible legal regime on renewable energy and the encouragement of strict implementation of energy regulatory strategies and policies with incentives for the application of renewable energy sources in Nigeria.

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“…Nigerian oil and gas industry has been opened to FDIs for over 60 decades (Klieman, 2012; Hassan, 2013a), and the country is still very much open to such investments. Empirical evidence from several studies reveals that Nigerian environmental regulations are weak (Hassan and Kouhy, 2013b; Olujobi and Olusola‐Olujobi, 2020), corruption thrives in its oil and gas industry (Klieman, 2012; Ejiogu et al ., 2019; Das, 2020), and the country is poor (Evans and Kelikume, 2019). Although it has to be admitted that Nigeria derives tremendous benefits from the productive activities in its oil and gas industry, mainly carried out by foreign MNCs, still its economy sustains enormous negative environmental impacts principally in the form of gas flaring and oil spillage.…”

Section: Introductionmentioning

confidence: 99%

“…Evidently, a direct economic implication of gas flaring relates to loss of revenue sustained by both the Nigerian government and the oil companies operating in the country. For example, the current estimate shows that Nigeria loses an average sum close to $1 billion dollars in annual revenue due to gas flaring (PricewaterhouseCoopars (PWC) (2019); Olujobi and Olusola‐Olujobi, 2020). More specifically, PWC (2019, p. 11) reports that Nigerian government and the oil and gas companies operating in the country lost estimated annual revenues in the sum of $985 million (2014), $794 million (2015), $751 million (2016), $875 million (2017) and $762 million (2018).…”

Section: Introductionmentioning

confidence: 99%

Dealing with vulnerability to carbon emission from gas flaring: the roles of transparency and utilisation policies in Nigeria

Hassan

2020

OPEC Energy Review

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Gas flaring, a practice described as environmentally damaging and financially wasteful, still persists on a large scale in the Nigerian oil and gas industry. Firstly, this paper investigates the vulnerability of the Nigerian economic performance to environmental pollution by estimating and analysing the relationship between carbon emission from gas flaring and Nigeria’s GDP. Secondly, the study examines how transparency and gas utilisation policies, deployed by the country, are performing in dealing with vulnerability to carbon emission from gas flaring. The paper uses an autoregressive distributed lag bounds testing approach to cointegration and error‐correction‐based Granger causality. The paper establishes that carbon emission from gas flaring affects Nigeria’s GDP negatively in both the short and long run. However, the results show that GDP has started exhibiting resilience to carbon emission from gas flaring in the long run. Findings imply that even though transparency and gas utilisation policies are doing well in increasing GDP’s long‐run resilience, persistent carbon emission from gas flaring continues to cause short‐run and long‐run economic vulnerability. The study discusses policy implications meant to be useful to the Nigerian government and the relevant regulatory authorities in the country's oil and gas industry.

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Retracted: Comparative appraisals of legal and institutional framework governing gas flaring in Nigeria's upstream petroleum sector: How satisfactory?

Cited by 11 publications

References 6 publications

Operations of small and medium enterprises and the legal system in Nigeria

Operations of small and medium enterprises and the legal system in Nigeria

The legal sustainability of energy substitution in Nigeria’s electric power sector: renewable energy as alternative

Dealing with vulnerability to carbon emission from gas flaring: the roles of transparency and utilisation policies in Nigeria

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