Nigeria on Energy Law

The President of the Federal Republic of Nigeria, President Muhammadu Buhari, finally signed the Petroleum Industry Bill ("PIB") 2021 (now Petroleum Industry Act, "PIA", the "Act") into law on August 16, 2021, well over a decade after the first draft of the Bill was presented to the National Assembly.

Energy is essential for socio-economic development, contributing significantly to poverty reduction, improved quality of life, and national security. Over the past 50 years, the World Energy Assessment has highlighted.

Nigeria is endowed with an estimated 203 trillion cubic feet of natural gas reserves, the largest in Africa and the ninth-largest in the world.