- Nov 29, 2021 9:07 am GMT
Review of the Petroleum Industry Act 2021
Prior to the convoluted evolution of the PIB, there was a bit of regulatory certainty in the oil and gas space. The PIB was long in coming and brought about a wind of regulatory uncertainty as it went through a number of legislative cycles. However with the emergence of the PIA 2021, it is hoped that there will be a flurry of investment activities in the oil and gas space in Nigeria. The PIA 2021 should help unlock the value in oil and gas projects that were stalled prior to the PIA 2021. Over $48 Billion dollars of low hanging oil and gas opportunities are waiting to be snapped up by discerning investors.
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