First Word on SB

First Word on SB

Telling stories that matter to Nigerians

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FW: What is the Petroleum Industry Governance Bill (PIGB)?

Aisha-Nana Salaudeen

Aisha-Nana Salaudeen

Aisha is trying to figure out how to tell as many impact stories as possible in different forms.

This article is part of our #FirstWord series to provide context on trending news.

The Petroleum Industry Governance Bill (PIGB) is a fraction of the Petroleum Industry Bill (PIB) aimed at reforming Nigeria’s oil and gas sector. The PIGB focuses on the governance of the oil & gas sector and seeks to promote transparency and accountability in the administration of petroleum resources in the country.

The piece of legislation is expected to encourage a conducive business environment for petroleum industry operations in the country and create effective governing institutions with separate roles for the petroleum industry.

On the 25th of May 2017, the Senate passed the PIGB after many years of the bill being stalled, sending it to President Muhammadu Buhari who withheld his assent to it. Without the President’s signature, it is unlikely to become law. 

 

What exactly is in the PIGB?

Even though it is just a quarter of the original PIB, the PIGB is dense enough that going through all its elements would be almost impossible.

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