Category: News

Posted on

News on the PIGB

Since its passage last week, the PIGB has dominated Nigerian newspapers. See a cross-section of some of the articles below.

The Daily Trust in its article – The next big hurdle for PIB – highlights some of the challenges before the PIGB finally becomes law. The article suggests that the Bill may be given accelerated consideration by the House of Representatives.

The Vanguard interviews experts on the passage of the PIGB.

In Oil Workers Commend the Passage of the PIB, the Guardian reports on comments by the leadership of PENGASSAN welcoming the passage of the Bill by the Senate and seeking early passage of the other elements of petroleum industry reform.

 

Posted on

PIGB 2017 – Objectives

The PIGB 2017 passed by the Senate on May 25, 2017, has the following objectives:

  1. create efficient and effective governing institutions with clear and separate roles for the petroleum industry;
  2. establish a framework for the creation of commercially oriented and profit driven petroleum entities that ensure value addition and internationalization of the petroleum industry;
  3. promote transparency and accountability in the administration of petroleum resources of Nigeria; and
  4. foster a conducive business environment for petroleum industry operations.

Continue reading “PIGB 2017 – Objectives”

Posted on

Breaking News – History is made as the Nigerian Senate passes the Petroleum Industry Governance Bill

The Petroleum Industry Governance Bill was passed at its third reading at the Nigerian Senate today (May 25th, 2017). In the long history of pursuing Petroleum Industry legislative reform in Nigeria, this is the first time that a bill will be passed at the Nigerian Senate.

We shall update you on the changes made to the Bill and the next steps.

 

 

Posted on

Petroleum Industry Fiscal Bill

The Senate announced on its official twitter feed – @ngrsenate, that the Petroleum Industry Fiscal Bill (PIFB) passed the first hearing. The Bill is the third in the series of petroleum industry-related bills to have commenced the legislative process in the Senate. The first was the Petroleum Industry Governance Bill (PIGB), which we reported as being scheduled for a third hearing in May 2017, whilst the Host Community Bill went through the first hearing in December 2016.  The  Chairman of the Senate Committee on Petroleum Resources (Upstream), Senator Tayo Alasoadura  introduced the PIFB.

Posted on

PIGB laid before the Senate for Debate

The Joint Committee tasked with reviewing the Petroleum Industry Governance Bill (PIGB) in the Senate has laid its report before the house. This signifies the completion of the Committee’s review process. The next step is the clause by clause debate of the Bill at its third hearing, currently scheduled for the 25th of April, 2017.  Continue reading “PIGB laid before the Senate for Debate”

Posted on

PIGB: FG Backs Single Petroleum Sector Regulator, Wants Minister as Chair

We attended the public hearing of the Senate on the Petroleum Industry Governance Bill (PIGB), which was held over three days in Abuja last week. We shall share an update on the proceedings in a later post. An important highlight is that the FG & the Senate now appear aligned  on the institutional reform proposals in the PIGB. Continue reading “PIGB: FG Backs Single Petroleum Sector Regulator, Wants Minister as Chair”