A man stands at the entrance of the National Assembly in Abuja
Nigeria’s PIB inches towards law
The Petroleum Industry Bill reached an important milestone at the start of July
Nigeria's National Assembly has finally passed the country’s long-delayed Petroleum Industry Bill (PIB), but the body’s two legislative chambers each approved different—but mostly overlapping—versions, amid controversy over the allocation of royalties to local communities. The House of Representatives backs a 5pc allocation, and the Senate 3pc. The two different versions of the PIB now must be reconciled before the finalised bill can be sent to President Buhari for approval and signing into law, and it is unclear how long that process might take. “This year might, after all, be the year that the PIB becomes law”—Mansur Mohammed, Wood Mackenzie The National Assembly breaks for the su
Also in this section
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
22 April 2026
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
