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Lagos, March 3, 2021 An oil and gas expert, Mr Isreal Aye has said the Petroleum Industry Bill (PIB) currently before the National Assembly will move power in the petroleum industry from individuals to institutions. Aye, the Senior Partner, Energy and Commercial Contracts, Primera Africa Legal, made the assertion on Wednesday in Lagos at a Media Engagement Session on the Petroleum Industry Bill (PIB) The session was organised by the Facility for Oil Sector Transformation Project (FOSTER). Aye said that under the current 1969 Petroleum Act, the regulation of the petroleum industry was vested in one individual (the Minister of Petroleum), adding that had created a myriad of problems.

Nigerian national petroleum corporation limitedNational assemblyPetroleum industry billFacility for oil sector transformation projectDepartment of petroleum resourcesCorporate affairs commissionSenior partnerCommercial contractsPrimera africa legalMedia engagement sessionOil sector transformation projectPetroleum resourcesPetroleum actநைஜீரியன் தேசிய பெட்ரோலியம் நிறுவனம் வரையறுக்கப்பட்டவைதேசிய சட்டசபைபெட்ரோலியம் தொழில் ர சி து