Introduction

The oil and gas sector contributes a sizeable chunk to the Nigeria's foreign exchange earnings. This fact is made possible through activities of multinational oil companies either alone or in partnership with Nigeria's national oil company, the Nigerian National Petroleum Corporation (NNPC). There are of course local oil firms that also contribute to the nation's foreign exchange earnings through exploration, exploitation, marketing and other related activities. Because of the complex nature of contractual relationship usually entered into by participants in this ...