By Solina Kennedy, Martin Dietrich Brauch, Perrine Toledano, and Tehtena Mebratu-Tsegaye
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.
Financial experts are clamoring against Dangote refinery not to be allowed to become a monopoly in the manner of the state-run NNPC, if the 65 barrel per day refinery comes on board.
A look at the controversial clause in Nigeria’s long awaited Petroleum Industry Bill, (PIB), that’s still being debated in Nigeria’s parliament.
Barely two weeks ago, the conglomerate proposed a provision in the Petroleum Industry Bill (PIB) seeking to ban the importation of oil by companies without refining licences, which according to the company, will help spur investments in Nigeria’s oil and gas industry.
Dangote also recommended that the volume of fuel imported should be distributed according to what each refinery produces.