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Petroleum Industry Bill and quest for a New Nigeria The Punch Published 5 July 2021 Last week, Thursday, July1, the Senate finally passed the long-awaited Petroleum Industry Bill. It is a milestone in the history of Nigeria’s legislative affairs. Too many interests had repeatedly scuttled it over the years. According to the auditing and advisory firm, KPMG, previous attempts in 2009, 2012 and 2018 failed “because of factors such as lack of ownership, misalignment of interests between the National Assembly and the Executive, perceived erosion of ministerial powers, stiff opposition by the petroleum host communities and push back by investors on the perceived uncompetitive provisions in those versions of the bill”.

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