The Petroleum Industry Bill (PIB) was passed by the National Assembly on 1 July 2021 after about two decades of reviews and deliberations by industry players, legislators, interested stakeholders and pressure groups. In our previous reports on the PIB, we analysed key sections of the Bill relating to administration, fiscal terms, host communities, and gas.
This Special Energy Focus report aims to analyse the provisions of the PIB 2020 against the recently released PIB, following reviews by the National Assembly. We aim to analyse the overall implications of the PIB on the energy industry especially considering the global drive towards energy transition. The analysis will highlight a comparative inquiry of key provisions that were retained, amended, or deleted and its impact on the industry, the national economy and globally …Continue reading