Examining Legal Framework Governing Oil and Gas Revenue in Tanzania: Present and Future Challenges
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Abstract
This study examines the legal framework for governing oil and gas resources revenues in Tanzania. The governance of oil and gas revenues has been a challenging among various producing countries. The study has analysed the laws and policies that guides the governance of oil and gas revenues. The study findings show that the governance of oil and gas revenues faces several challenges such as: separate laws and institutions governing oil and gas resources, lack of a clear system on sharing of revenues between the two governments, lack of unified oil and gas fund for the union government, limited openness and transparency and lack of coordination clarity among governing institutions. The study recommends for the need on legislative reforms in terms of amendments of laws, establishment of a coordinating unit among institutions, harmonization of governing laws and promote transparency and accountability in the collection and use of oil and gas revenues.
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