Nigeria's Petroleum Industry Governance Bill (PIGB) was recently passed by the National Assembly and forwarded to President Buhari for his assent. The Bill proposes to reform the Nigerian petroleum industry governing institutional framework by amongst others, setting up an independent regulatory agency, unbundling the NNPC into two limited liability companies and setting specific policy roles for the Minister of Petroleum Resources. Energy Partner, Dr.
The Firm’s Energy Partner, Dr. Adeoye Adefulu, is speaking on the “Extractives – Trends in the Oil and Gas Sector” panel at the IBA “Investing in Africa: Opportunities for Businesses and Lawyers who Counsel Them” Conference in New York City, USA.
This attached paper by Dr. Adeoye Adefulu (Partner, Odujinrin & Adefulu) and Dr. Ekpen Omonbude (Economic Adviser (Natural Resources), Commonwealth Secretariat, London), explores the intricacies of the subsidy regime in the Nigerian petroleum product supply industry and proposes proactive solutions to problems that arise therefrom.
Energy Partner Dr. Adeoye Adefulu provided training to over 50 employees of the Nigerian National Petroleum Corporation (NNPC) on Wednesday, May 29th on the “Key Legal Issues in the Nigerian Oil and Gas Industry” as a part of NNPC’s foundational skills course. The seminar examined foundational issues such as the ownership of oil and gas in Nigeria, NNPC’s role in the industry, the types of petroleum development arrangements used in the country, Petroleum Industry Bill, and Local Content.
Energy Partner, Dr Adeoye Adefulu is quoted in the BusinessDay article “Oil and gas players want Buhari govt to be decisive on Petroleum Industry Bill (Nigeria)” for his views on the steps Nigeria’s new government should take on the Petroleum Industry Bill.
The Petroleum Industry Bill (PIB), which has been with us in one form or the other since 2008, proposes to completely overhaul Nigeria’s petroleum industry. The current draft of the Bill, sent to the National Assembly in 2012, seeks to, amongst others, restructure the regulatory and commercial institutions in the petroleum industry, change the fiscal dynamics and reform the operational mechanisms of the upstream, downstream and natural gas industries. This paper highlights 5 actions the incoming government may take to get oil industry reform back on track.