New PIB 2020 and Dawn of New Era in Oil Industry

The Petroleum Industry Bill (PIB) 2020 presented to the National Assembly for consideration by President Muhammadu Buhari, on 28 September 2020, has passed second reading. It represents the most comprehensive review of the legal framework for the oil and gas sector in Nigeria since the industry began commercial operations in the 1960s. CHIMA NWOKOJI, in this report, dissects some excellent changes introduced into the Bill.