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Nigeria’s PIB inches towards law

The Petroleum Industry Bill reached an important milestone at the start of July

Nigeria's National Assembly has finally passed the country’s long-delayed Petroleum Industry Bill (PIB), but the body’s two legislative chambers each approved different—but mostly overlapping—versions, amid controversy over the allocation of royalties to local communities. The House of Representatives backs a 5pc allocation, and the Senate 3pc. The two different versions of the PIB now must be reconciled before the finalised bill can be sent to President Buhari for approval and signing into law, and it is unclear how long that process might take. “This year might, after all, be the year that the PIB becomes law”—Mansur Mohammed, Wood Mackenzie The National Assembly breaks for

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