Nigeria expects to pass Petroleum Industry Bill next year

Image: World Economic Forum 

Nigeria’s Petroleum Industry Bill (PIB) is expected to be passed into law before June 9, 2019.

On Wednesday, Vice President Yemi Osinbajo said amendments on the Bill had been made, quelling fears of uncertainty around a possible reduction in revenues under the current fiscal regulation Bill and, challenges surrounding the host communities Bill.

The PIB, which has been contested and amended in the Nigerian parliament for 17 years, is still awaiting approval from Nigerian President Muhammadu Buhari before it is accepted into law.