Skip to content Skip to footer
Search

Loading Results

The Petroleum Industry Bill(PIB): Top 20 Changes You Should Know!

Nigeria's Senate has officially passed the Petroleum Industry Bill (PIB) on July 1 2021. The PIB seeks to provide legal, governance, regulatory and fiscal framework for the Nigerian Petroleum Industry and development of Host Communities. 

The PIB contains 5 Chapters, 319 Sections and, 8 Schedules dealing with Rights of Preemption; Incorporated Joint Ventures; Domestic Base Price and Pricing Framework; Pricing Formula for Gas Price for the Gas Based Industries; Capital Allowances; Production Allowances and Cost Price Ratio Limit; Petroleum Fees, Rents and Royalty; and Creation of the Ministry of Petroleum Incorporated.

This article shares the top 20 changes to Nigeria's Petroleum Industry Bill(PIB) recently passed by the National Assembly.

 

Contact us

Taiwo Oyedele

Taiwo Oyedele

Africa Tax and Legal Services Leader, PwC Nigeria

Tel: +234 (1) 271 1700

Follow us