The Petroleum Industry Governance Bill (PIGB) is a section of the Petroleum Industry Bill (PIB) which was broken into four parts for ease of passage by the National Assembly.
The passage of the PIGB by the House of Representatives was applauded by industry experts as a welcomed development in the Nigerian oil and gas industry.
The PIGB is expected to most importantly, restructure and reform the oil sector by unbundling government controlled Nigerian National Petroleum Corporation (NNPC) and create an independent agency tasked with effective operationalization and regulations of the sector.
The bill is presently awaiting presidential assent.
See details of the PIGB here: