PIB is a bill that, when passed as an Act, becomes the master reference law that governs the Nigerian petroleum industry – from the upstream division (exploratory, development and production activities) #NASSGiveUsPIB
through the midstream (gas processing) to downstream (servicing, refining, distribution, transportation, marketing/retailing). #NASSGiveUsPIB
A report in February says that Nigeria’s legislature was consulting with the President to draft “from scratch” a bill overhauling the nation’s petroleum sector and aimed to pass it by the end of 2020. #NaijaNeedsPIB
The signing of the bill would come at a much needed time as Nigeria deals with falling oil revenues due to the impact of the pandemic on global oil demand. #NaijaNeedsPIB
A spokesman for Shell petroleum added that signing the bill would unlock potential investments into Nigeria’s rich resource base #NaijaNeedsPIB