Nigeria’s long-awaited Petroleum Industry Governance Bill (PIGB) will be signed into law by President Muhammadu Buhari towards the end of March, legislators hope, according to Reuters . The OPEC nation is Africa’s largest oil producer. In recent years, Angola has been vying to take the top spot, but the alleviation of domestic strife in the Niger Delta has restored stability in Abuja’s oil revenues. The PIGB is the first part of a larger industry legal framework overhaul called the Petroleum Industry Bill (PIB) that needs to pass through the country’s legislature. “Hopefully, by the end of the month, the National Assembly will transmit it to the president for assent,” said Senator Tayo Alasoadura, who heads the upper house’s committee on upstream petroleum issues. The PIGB will create four new bureaus that will oversee bidding rounds, award exploration licenses, and make recommendations to the oil minister regarding developments in the […]