#Petroleum Industry Bill (PIB)
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Buhari signs Petroleum Industry Bill into law
Buhari signs Petroleum Industry Bill into law
President Muhammadu Buhari has signed the Petroleum Industry Bill 2021 into law.
This is according to a statement signed by presidential spokesperson Femi Adesina.
According to the statement, President Buhari signed the bill into law while in quarantine, after his arrival from the United Kingdom.
“The ceremonial part of the new legislation will be done on Wednesday, after the days of mandatory…
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Why the Southern Strategy is in Northern Nigeria’s best Interest, By Osmund Agbo
Why the Southern Strategy is in Northern Nigeria’s best Interest, By Osmund Agbo
FILE PHOTO: Meeting of Nigeria’s Southern Governors in Asaba, Delta State
These series of meeting initiated by the Southern governors, is a deft move with a potential to stem a vicious tide in a region that has become a hotbed of separatist movements. By coming together to improve on the political and economic fortunes of the people, the state chief executives are attempting to infuse hope into…
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#Dr. Osmund Agbo#Nigerian insecurity#petroleum industry bill (PIB]#Southern Nigeria Governors#The Southern Strategy
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Nigéria : Le PIB pourrait avoir des effets positifs à long terme sur la production pétrolière et gazière
Nigéria : Le PIB pourrait avoir des effets positifs à long terme sur la production pétrolière et gazière
Fitch Ratings, une agence mondiale de notation de crédit, a déclaré que l’adoption du Petroleum Industry Bill (PIB) pourrait avoir des effets positifs à long terme sur les finances publiques du pays ainsi que sur la production de pétrole et de gaz.
Cependant, Fitch a souligné que l’impact positif dépendrait de la volonté du Nigeria d’appliquer la loi à la lettre.
Il a noté que même si le projet…
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#actualité#Africa#Afrique#gaz#Informations#nigéria#or noir#pétrole#Petroleum Industry Bill (PIB)#Web
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Energy: Oil & Gas Industry pivotal to Nigeria's foreign earnings - Senator Albert
Energy: Oil & Gas Industry pivotal to Nigeria’s foreign earnings – Senator Albert
Energy: Oil & Gas Industry pivotal to Nigeria’s foreign earnings – Senator Albert
Distinguished Senator Bassey Albert, Chairman, Senate Committee on Upstream Petroleum Resources says Nigeria’s oil and gas sector remains pivotal in determining the Nation’s foreign exchange as such the urgent need to have laws that will unbundle the sector for greater impact on the Nation’s economy.
Senator…
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Full text of Southern Govs communique
Full text of Southern Govs communique
COMMUNIQUÉ ISSUED AT THE CONCLUSION OF THE MEETING OF THE GOVERNORS OF SOUTHERN NIGERIA AT THE LAGOS STATE GOVERNMENT HOUSE, IKEJA, LAGOS STATE, ON MONDAY, 5TH JULY, 2021 NIGERIA.
The Southern Governors Forum at the end of the meeting held on Monday, 5th July, 2021 reviewed the situation in the Country and focused on the current security situation, constitutional amendment, Petroleum Industry…
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Senate uncovers, orders refund of N145m PIB media consultancy fee
Senate uncovers, orders refund of N145m PIB media consultancy fee
Ahmad Lawan: Photo Twitter
• Permanent Secretary says service blessing to the ministry
Senate Committee on Public Accounts has unravelled how a management staff in the Ministry of Petroleum Resources allegedly paid himself N145 million as media campaign fund to garner support for the Petroleum Industrial Bill (PIB).
The allegation was contained in the 2015 report of the Auditor General of the…
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Gbajabiamila…For in the House of Representatives, We're Determined to Pass PIB in Six Months
Gbajabiamila…For in the House of Representatives, We’re Determined to Pass PIB in Six Months
Speaker of the House of Representatives, Femi Gbajabiamila, has authoritatively declared that the Green Chamber is determined to pass the Petroleum Industry Bill (PIB) within the next six months.
“On the PIB, there are two things that the House would want to do. First, the House is determined to pass the bill within the next six months, or probably less, because the clock has already started…
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#Femi Gbajabiamila#House of Representatives#Idowu Sowunmi#MyNewsBite#Nigeria#oil and gas sector#Petroleum Industry Bill#PIB
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JUST IN: Tension As Niger Delta Militants Vows To Resume Hostility Over PIB
Niger Delta News
A militant group, Niger Delta Revolutionary Crusaders (NDRC), has threatened to resume hostility over the three per cent for host communities in the recently passed Petroleum Industry Bill (PIB) by the National Assembly.
It said its commanders have returned to the creeks of the Niger Delta region waiting to strike.The militants in a statement on Friday by its spokesperson, W.O.…
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Why is it profitable to invest in Nigeria
Nigeria is the world's seventh most populated country, with about 200 million inhabitants. While this may appear to be a large number of people, the country's high death rates and low life expectancy would almost certainly result in much more. Nigeria has the fastest-growing economy in Africa, as well as the continent's largest GDP. Nigeria is the continent's most populous country and has the continent's third-largest manufacturing sector. Furthermore, the country has the biggest agricultural output and the greatest number of animals. Nigeria has the largest economy in Africa, ahead of South Africa, Egypt, and the rest of the continent. According to PwC, Nigeria would be among the world's top economies in 2050, ahead of Italy, Canada, South Korea, Spain, the Netherlands, Australia, and others.
Nigeria, with a population of over 200 million people, has the people, manpower, and workforce to assist any business to succeed. In comparison to other countries, Nigeria's minimum salary is modest. As a result, you'll be able to save money while getting more done. Nigeria, along with other countries in Sub-Saharan Africa, is a focus market for the United States' "US Strategy toward Sub-Saharan Africa," which outlines four goals for the region: strengthening democratic institutions, promoting economic growth, trade, and investment, advancing peace and security, and promoting opportunity and development.. Under Presidential initiatives such as the Doing Business in Africa campaign and Power Africa, the US Commercial Service (CS) in Nigeria is also actively supporting this order.
Nigeria has a track record of consistent economic growth and political stability. Nigeria now has the largest economy and market in Africa, as well as the 26th largest in the world, thanks to a recent rebasing of its GDP. Over the last decade, Nigeria's yearly growth rate has averaged 7%. In Nigeria, almost 40 million people reside in consuming-class homes. As a result, with a GDP of US$510 billion in 2015, the country is considered one of the world's fastest-growing economies. The GON is liberalizing Nigeria's economy, promoting public-private partnerships, and encouraging strategic alliances with foreign firms, particularly for infrastructure development and technology acquisition in critical sectors such as security, power generation, transportation, and healthcare, to maintain this annual growth rate.
Which business is best in Nigeria
Nigeria offers considerable prospects for U.S. exporters in important industry sectors such as oil and gas, power generation, and construction. Nigeria is Africa's and the world's twelfth largest oil producer, producing high-value crude oil with low sulphur content. An effort to overhaul Nigeria's oil and gas law framework that has lasted more than six years has generated uncertainty, delaying billions of dollars in prospective investment in the sector. The National Assembly is anticipated to begin debating the most recent version of the Petroleum Industry Bill (PIB), which aims to consolidate and replace 16 separate laws that govern the industry.
International oil corporations operating in Nigeria are concerned that the latest version of the PIB will increase GON royalties and tax revenues to the point where fresh investment will be unprofitable. The GON has previously claimed that the PIB represents contemporary industry contract norms that are widely accepted around the world. Many industry observers are expecting the new government to resurrect the bill following the successful and peaceful national elections in March 2015; nevertheless, many remain skeptical of its passage.
The GON has identified several road and housing development projects in the construction sector. This opens up opportunities for construction and real estate developers in the United States, as well as heavy equipment manufacturers. Construction of "new alignments" (greenfield projects) and improvements to "existing alignments" are among the projects (brownfield projects). The development of a Golden Triangle Super Highway, which will connect key economic hubs and add 5,000 kilometers to Nigeria's national road network, is one of the greenfield projects. Another project is the development of a Second Lagos Outer Ring Road, which will relieve traffic congestion in the Lagos metropolitan region and facilitate cargo transportation from the Lagos Sea Ports. Investment Opportunities in Nigeria
Nigeria is the most populous country in Africa, with around one-sixth of the continent's population and 2.4 percent of the global population. With roughly 250 ethnic groups among its estimated 180 million people, it is perhaps one of the world's most culturally diverse societies. According to the National Population Commission (NPC), Hausa and Fulani in the north (29 percent), Yoruba in the southwest (21 percent), Igbo in the southeast (18 percent), Ijaw in the Niger Delta (10 percent), Kanuri in the north (4 percent), Ibibio in the Niger Delta (3.5 percent), and Tiv in north-central Nigeria are the most dominant and influential ethnic groups (2.5 percent).
What are the business ideas in Nigeria
Graphic Designing, Poultry Farming, Liquid Soap Production, Catering Services, Interior Decoration, POS Business, Palm Oil Business, and Dropshipping are some of the business opportunities available.
In Nigeria, the success of your business is primarily determined by how well you get along with your customers. You should think about things like your location and the need for such a service. Most crucial, do something that is not taxing on your time and provides a fair return on investment.
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Biggest Controversies That Shaped N/Assembly In 2021
Biggest Controversies That Shaped N/Assembly In 2021
Unlike 2020, 2021 has been a tumultuous year for the National Assembly, with both chambers witnessing rowdy sessions.
The Petroleum Industry Bill (PIB) was passed amid rancour and divisions among the federal lawmakers, while the Electoral Bill pitched them against governors, with both sides flexing muscles on the direct primary provision contained in the draft.
The parliamentarians were also…
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PIB: Why Nigeria needs a single regulator, By Awaal Gata
The resort to setting up two regulators is an unnecessary duplication of the cost of governing the oil and gas sector. Nigeria has wasted too many resources in recurrent expenditures, and so many panels set up by the Federal Government to review the public service have recommended downsizing and the merger of existing ministries, departments and agencies of government.
It’s confusing that…
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PIA: 3% HOSCOM Equity Stake is Insulting -Asari Dokubo
PIA: 3% HOSCOM Equity Stake is Insulting -Asari Dokubo
Asari Dokubo, a Niger Delta activist, claims that if President Muhammadu Buhari had his way, the Niger Delta region would have received nothing in the Petroleum Industry Bill, PIB, as equity sharing to host communities.
Dokubo stated this in interview with Punch, on Sunday.
Even though the region had campaigned for a 10% equity share, the PIB, which has already been passed into law, provides…
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NASS’ delay of PIB stirs anger
NASS’ delay of PIB stirs anger
• Moving debate to 2021 trouble stakeholders
• Buhari faces fresh attack on petrol price hike
• Citizens lament poverty, inflation, unemployment
• Stakeholders decry poor resources utilisation
• Don asks President to increase minimum wage
Nigeria’s National Assembly is still temporizing with passage of the Petroleum Industry Bill (PIB) and this is a source of worry to oil and gas stakeholders.
T…
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Delta governor signs anti-open grazing bill
Delta governor signs anti-open grazing bill
Nigeria’s oil and gas industry has lost huge investments due to the non-passage of the Petroleum Industry Bill (PIB), Governor Ifeanyi Okowa of Delta State has said.
Delta Governor, Sen. (Dr) Ifeanyi Okowa, on Thursday, signed the Delta State Livestock, Breeding, Rearing and Marketing Regulation Bill, 2021, otherwise known as Anti-Open Grazing Bill, with a call on the Federal Government to assist…
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Presidency lists ‘many jinxes’ broken by Buhari
Presidency lists ‘many jinxes’ broken by Buhari
The Presidency has listed the achievements of the Muhammadu Buhari’s administration since 2015, describing them as many jinxes broken under his leadership.
According to a statement by Special Adviser to the President on Media and Publicity, Femi Adesina, Buhari has ended tracks of erstwhile impossibles, including signing the Petroleum Industry Bill (PIB) into law.
According to the statement,…
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