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(ii) Also, the Federal Government of Nigeria and BI-Courtney Consortium formally sealed a concessioning agreement on construction and management of the N90 billion Lagos-Ibadan Expressway. The signing of the road concession agreement brings to two, the number of such roads whose contract had been ratified by government, the first being the Bagana bridge project awarded early in the year. Under the concession arrangement which is to run for over 25 year, the company is to build the road as well other accompanying facilities, such as trailer park, shopping malls, eatery, ambulance points, filling stations and communication systems. War Against Corruption Significant strides has been made at tackling corruption by the Economic and Financial crime Commission (EFCC) The world is appreciating the concerted efforts of Nigerian government in its bid to combat corruption in the country. The commitment the government had given to the fight against corruption are very commendable, for example, the bill to make EFCC fully autonomous is before the National Assembly. (iii) Energy In order to facilitate smooth operation and provide a more profit oriented competitive environment in the oil and gas sector, NNPC was unbundled on the 29th of August 2007 with five companies taking over its functions and those of its parent Ministry as part of the reform in the Oil and gas sector. These decisions were part of the new Oil and gas policy which will be implemented by the National Council on Energy headed by the President Musa Yar'Adua with the Vice-President as Deputy Chairman. A lot of investment opportunities abound in the natural gas sector of the Nigerian petroleum industry. Increasing attention is now being given to this vital sector. Government's aspirations for the gas sector include creating new industries out of the old oil industry; capturing economic value and generating as much revenue from gas as from oil by 2010. Others are developing the domestic gas market and, ending gas flaring Remarkable progress has been recorded towards the realization of these objectives. Of the current annual gas production of about 2,000 Bscf, about 40% is flared. This is a drastic drop from the 70% proportion flared before the advent of 44

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