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Article

28 Sep 2015

Author:
Stakeholder Democracy Network (SDN)

Nigeria: NGO report identifies potential tax, health and environmental benefits of proposed Petroleum Bill

'Spotlight issue: a closer look at the Petroleum Industry Bill (PIB)', 28 Sep 2015: The Nigerian government…inten[ds]…to overhaul the petroleum industry, entrenching efficiency and transparency…in line with international standards…[T]he Petroleum Industry Bill (PIB)…seeks to increase government revenue from oil and lay down a strengthened legal and regulatory framework for the Nigerian oil industry…SDN’s…analysis hails the proposed PIB for its ability to raise revenues, deregulate the industry and raise environmental standards. However…[it] also highlights key areas…which…need…strengthening…to deliver long-term sustainability and impact…[e.g.] [o]il-producing communities…need their rights enshrined…with regard to oil-spill compensation, environmental clean-up and improved socio-economic development…