The Nigerian Petroleum Industry Bill (PIB) began its long journey to the Nigerian parliament in the early days of the former President Olusegun Obasanjo with the inauguration of the Oil and Gas Reform Committee (OGRC) on 24th April 2000. PIB seeks “to establish the legal and regulatory framework, institutions and regulatory authorities for the Nigerian petroleum industry, to establish guidelines for the operation of the upstream and downstream sectors, and for purposes connected with the same”. The OGRC, consisting of over two dozen local and international experts, was charged with reviewing and streamlining all existing petroleum laws and establishing a regulatory framework for the sector to reflect and serve the interests of consumers, the environment and the operators.
