Tobi Adebayo
President Muhammadu Buhari has signed the Petroleum Industry Bill 2021 into law.
Buhari assented to the bill on Monday, August 16, 2021, after returning from his trip to the United Kingdom.
The President had on September 28, 2020, presented the PIB to the National Assembly for reconsideration.
Senate targets prudence in public finance, transactions
The Senate passed the bill on July 15, 2021, after careful consideration of each of its clauses.
The PIB seeks to introduce changes to the governance, administrative, regulatory, and fiscal framework of the Nigerian oil and gas industry, in order to ensure transparency, strengthen the governing institutions, and attract investment capital, among other objectives.
