Nigeria’s President Goodluck Jonathan says he’ll push for a major overhaul in the nation’s vital...

|By:, SA News Editor

Nigeria’s President Goodluck Jonathan says he’ll push for a major overhaul in the nation’s vital petroleum sector, despite objections from oil majors. The government wants a bigger share of output and says current plans from the 1950s are outdated and “punitive” compared with terms elsewhere. Exxon (XOM) and Shell (RDS.A) object and say future investments may be at risk.