Nigeria’s Petroleum Industry Bill: A Missed Opportunity to Prepare for the Zero-Carbon Future

Abstract

With Nigeria’s National Assembly debating the proposed Petroleum Industry Bill (PIB) in the first quarter of 2021 — after nearly two decades of attempted reform of the country’s petroleum sector — Nigeria has a unique opportunity to rethink the role of the oil and gas industry in Nigeria’s economy and build out the country’s energy sector and economic capacity for the long term.

This piece provides a brief analysis of Nigeria’s PIB, highlighting the PIB’s laudable steps while identifying gaps and outlining recommendations for Nigeria to prepare for and seize the opportunity of the energy transition.