Petroleumindustrybill.com Managing Editor, Dr. Adeoye Adefulu, spoke with CNBC Africa last week on the need for the President to assent to the PIGB.
Last week we reported that the President withheld his assent to the Petroleum Industry Governance Bill (PIGB). At the time of our report, the news coverage had focused on the President rejecting the Bill because it “whittled down his powers.” Since then, there have been various reports on the refusal of the President to assent to the first of four bills seeking to reform the Nigerian oil and gas industry. We review some of these reports here. Continue reading “PIGB Assent: What has Happened Since?”
It has been just over a week since the Public Hearing at the House of Representatives. Enough time to have mulled over some of the issues raised by investors, the Federal Government & the public on the Petroleum Industry Administration Bill, the Petroleum Industry Fiscal Bill & the Petroleum Host & Impacted Communities Bill. Here are 5 takeaways from the hearings. Continue reading “House of Reps Public Hearing – A Few Takeaways”
A copy of the Petroleum Industry Governance Bill 2018, which harmonises the different versions may be found here. Our review of the Bill does not show significant changes from the Bill passed by the Senate in 2017. A more detailed analysis of the Bill will follow.
We’ve been away for a long time! But we come bearing good news. Both houses of the National Assembly on Wednesday 28th of March 2018 passed the harmonized version of the Petroleum Industry Governance Bill (PIGB). See this document which shows the differences between the Senate and House versions of the PIGB and how those differences were resolved. A clean copy of the PIGB will now be presented to the President for his assent. The President has 30 days to give his assent or give any comments he may have on the Bill. The National Assembly may override any veto exercised by the President with a 2/3rds majority vote. Continue reading “National Assembly passes Harmonized Petroleum Industry Governance Bill”