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Is the PIB as a new legislation necessary?

April 26, 2017legislation necessary PIB

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Is the PIB as a new legislation necessary?

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Yes, it is. The reform process of the oil and gas industry would require a holistic approach. This, in effect, means that the existing laws governing the administration of the industry in the country would have to be repealed or reviewed. The present Petroleum Legislation and especially, the fiscal regimes are no longer in tune with the current realities of Nigeria and international best practices in the oil and gas industry.