President Buhari signs the Petroleum Industry Bill into Law

Nigerian President has signed the Petroleum Industry Bill (PIB) 2020 into law. The PIB aims to reform the oil and gas sector after two decades of deliberation. Though Nigeria relies heavily on oil revenue, the industry was fraught with problems. Over the years, previous administrations had attempted to change the energy industry with no progress. Little wonder that the news of the signing of the PIB into law filled the media airwaves within an hour.

We will analyse the approved Act in due course. Subscribe to our newsletter and watch this space for more details.