NextierGovernance and Host Communities Provisions
Review of Nigeria’s 2020 PIB with a focus on the Provisions for Governance and Institutions; and Host Communities Development
Setting The Context
The objective of this report is to present the highlights of the “Bill for an Act to provide legal, governance, regulatory, and fiscal framework for the Nigerian Petroleum Industry, the Development of Host Communities and for Related Matters” hereafter referred to as the”2020 Petroleum Industry Bill.” Although the bill is in four (4) main chapters, this report focuses only on Governance and Institutions (Chapter 1) and Host Communities Development (Chapter 3).
For context, this document presents a concise history of Nigeria’s petroleum industry, the impetus for a reform of the sector, objectives of the proposed reforms, and a history of the Petroleum Industry Bill and the key considerations when reviewing the bill. Readers who are familiar with these issues can skip to page 13.
The rest of the document presents the highlights of two chapters of the bill. The report discussed the proposed changes and, where applicable, outlines issues that Distinguished Senators should consider.
