Nigeria’s 8th Senate has just passed a landmark oil governance bill after almost 20 years since the first introduction of the bill which shall reform Nigeria’s oil and gas industry.
The petroleum bill is a step forward and seeks to introduce reforms which encourage transparency, while making the oil and gas sector more business-oriented.
The PIB, which has been discussed for over a decade is central to President Buhari’s reform plans and was broken up into separate parts including governance and fiscal issues to accelerate the debate.
The bill shall now head to the House of Assembly which hopefully passes it and sends it to the President to be passed.