With Nigeria’s National Assembly debating the proposed Petroleum Industry Bill (PIB) in the first quarter of 2021 – after nearly two decades of attempted reform of the country’s petroleum sector – Nigeria has a unique opportunity to rethink the role of the oil and gas industry in Nigeria’s economy and build out the country’s energy sector and economic capacity for the long term. CCSI’s report Equipping the Nigerian National Petroleum Corporation (NNPC) for the Low-Carbon Transition, released before the PIB was publicized, advances suggestions on how to do so. The PIB takes notable steps toward much-needed reform of NNPC’s governance structure and addresses particular environmental and social concerns. However, it ultimately fails to account for climate change, the energy transition, and the necessary overhaul of Nigeria’s petroleum industry.
Complementing CCSI’s recent NNPC report, this blog provides a brief analysis of Nigeria’s PIB. It highlights the PIB’s laudable steps while identifying gaps and outlining recommendations for Nigeria to prepare for and seize the opportunity of the energy transition.
Solina Kennedy, Martin D. Brauch, Perrine Toledano & Tehtena Mebratu-Tsegaye,
Nigeria’s Petroleum Industry Bill: A Missed Opportunity to Prepare for the Zero-Carbon Future,
Available at: https://scholarship.law.columbia.edu/sustainable_investment_staffpubs/191