The long-awaited Petroleum Industry Bill (PIB) finally sailed through both the executive and legislative arms of government on 1 July 2021, after a two-decade journey.
The passage of this bill, which was first presented to the National Assembly by former President Umar Yar’Adua’s administration in 2008, will support the overhauling and transformation of the Nigerian oil industry.
The PIB contains 5 Chapters, 319 Sections and, 8 Schedules. Some of the Chapters are further divided into parts: Chapter 1 is divided into 5 parts; Chapter 2 is divided into 7 parts and Chapter 4 contains 11 parts.
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ABOUT THE AUTHOR
Ayobami Harriet Odole-Akinyemi is a lawyer.
She obtained an LL.B degree from Bowen
University in 2017 and a B.L from the Nigerian
Law School, Bwari, Abuja in 2018.
She currently works in the Digital
Transformation Department at LawPavilion
as a Legal Officer.
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