Section 66: Objectives.

1 The objectives of Chapter 2 are to—
a promote the exploration and exploitation of petroleum resources in Nigeria for the benefit of the Nigerian people;
b promote the efficient, effective and sustainable development of the petroleum industry;
c promote the safe and efficient operation of the transportation and distribution infrastructure for the petroleum industry;
d provide the framework for developing third party access arrangements to petroleum infrastructure;
e encourage and facilitate both local and foreign investment in the petroleum industry;
f promote transparency and accountability in the administration of petroleum resources in Nigeria;
g develop, where appropriate, competitive markets for the sale and distribution of petroleum and petroleum products;
h promote safe and affordable access to petroleum and petroleum products in Nigeria;
i promote the processing of petroleum within Nigeria and the development of fuel and chemical industry and other related value-added products and activities;
j create a conducive business environment for operations in the petroleum industry;
k promote the liberalisation of the downstream petroleum industry;
l establish an orderly, fair and competitive commercial environment within the petroleum industry; and
m ensure that petroleum operations are conducted in a manner that protects the health and safety of persons, property and the environment.

2 The provisions of Chapter 2 of this Act shall apply to—
a activities within or associated with petroleum operations and the petroleum industry; and
b persons conducting such activities.