Petroleum Industry Bill
The Petroleum Industry Bill (PIB) that was before the National Assembly for so many years created a lot of confusion in the industry because nobody knew what the rule of engagement would be.
Nigeria’s Vice President, Yemi Osinbajo has disclosed that the country is forming a coalition with other affected countries in order to stop attempted moves to halt funding of fossil fuel.
President Muhammadu Buhari said Nigeria lost an estimated $50billion worth of investments in ten years, created by the uncertainty of non-passage of the Petroleum Industry Bill (PIB), lack of progress and stagnation in the petroleum industry. Buhari said this in his remarks at a ceremony on passage of the Petroleum Industry Act (PIA) which preceded…
President Muhammadu Buhari has commenced implementation of the newly signed Petroleum Industry Act (PIA) by approving a steering committee to oversee the process. The steering committee is headed by the Minister of State, Petroleum Resources, Timipre Sylva. Other members are Permanent Secretary, Ministry of Petroleum Resources, Group Managing Director, NNPC, Executive Chairman, FIRS, Representative of…
The All Progressives Congress (APC) has admitted that the controversial petroleum industry bill assented to by President Muhammadu Buhari is not a perfect document. Apparently conscious of the protestations by key stakeholders from the oil-rich Niger Delta region on the salient provision of the legislation, the party assured that there would be room for improvement…
The Peoples Democratic Party (PDP) has advised President Muhammadu Buhari to immediately forward to the National Assembly an amendment bill to the new Petroleum Industry Act.
President Muhammadu Buhari has signed the Petroleum Industry Bill 2021 into law.
The people of the Niger Delta region had hoped the Petroleum Industry Bill (PIB), would assuage their burden, having borne pains of oil exploration and exploitation for many years...
Professor Emeritus in Petroleum Economics and Policy Research, Wumi Iledare and the President, Association for Energy Economics (NAEE), Prof. Yinka Omorogbe, have highlighted the fiscal...
The Ovie Avwaeke I of Umiaghwa-Abraka Kingdom in Ethiope East Council of Delta State, HRM Lucky Ochuko Ararile, has canvassed change of tactics and firmer military strategy to tackle insurgency
The controversy surrounding the passage of the Petroleum Industry Bill (PIB) is not over yet, as House of Representatives members from the South-South are pushing for a better deal