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China-Africa Trade Information Service
As the Petroleum Industry Governance Bill (PIGB) was laid on the floor of the Senate by the joint committees on petroleum (downstream and upstream) and gas, stakeholders and experts have warned on the dangers of passing the bill in tranches and non-incorporation of the demands of host communities.
The main objectives of the Bill, according to the Minister of State for Petroleum Resources, Ibe Kachikwu, include the creation of efficient and effective governing institutions with clear and separate roles for the petroleum industry; establishment of a framework for the creation of commercially oriented and profit driven entities that will ensure value-add and internationalization of the petroleum industry.