Nigeria's new oil industry bill ready to launch

Almost two decades after a Petroleum Industry Bill was first mooted and after numerous revisions, the country is poised to finally enact key elements of it

Only a presidential signature now stands between Nigeria's Petroleum Industry Governance Bill (PIGB) and the statute book, following its passage through the House of Representatives in January, some eight months after it was passed by the country's senate. The bill, the first of three relating to the hydrocarbons industry, promises to revolutionise the way in which oil and gas licenses are allocated and is designed to draw a line under years of corruption associated with the sector by introducing more transparency to government processes. "The PIGB will… promote openness and transparency in the industry-by clarifying the rules, processes, and procedures that govern the oil and gas sector. Th