Last year, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke delivered a paper on the future of Nigeria’s petroleum industry in the next five years. Below is an extract from the presentation:
… As you are aware, the Government has embarked on reforms within the petroleum sector in order to make the industry attractive to both local and international investors. Some of these reforms include; the National Content Act, the Amnesty Programme and an omnibus legislation called the Petroleum Industry Bill (PIB).
The PIB currently undergoing legislative processes at the National Assembly establishes the legal and regulatory framework, institutions and regulatory authorities for the Nigerian petroleum industry. It also stipulates guidelines for operations in the upstream and downstream sectors.
– See more at: http://www.vanguardngr.com/2014/01/nigerias-petroleum-future-post-pib/#sthash.bu5wDn4r.dpuf