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Vol 59 No 16

Published 10th August 2018


Politics of patronage

Long-delayed legislation promises to free the oil industry from state control – but will the government want to surrender this trump card?

Nigeria's governments come and go but its oil and gas governance legislation keeps rolling on. The Petroleum Industry Bill (PIB) was conceived during Olusegun Obasanjo's first elected term as president to reform the labyrinth of institutions revolving around the Nigerian National Petroleum Corporation (NNPC) and spur lagging investment. A draft was finished in 2008 under his successor, the late Umaru Yar'Adua, setting out a new tax and regulation framework for the sector, Nigeria's only major source of exports and government revenue.

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