Are the fiscal terms in the latest draft of the Petroleum Industry Bill (PIB) globally competitive and investment friendly? Will the oil reform bill promote the development of local content in the petroleum industry? Will the PIB promote domestic gas utilization and support the national gas master plan? Volume 8 of Spaces for Change’s (S4C’S) policy briefing paper proffers answers to these concerns bothering both local and foreign investors.
Volume 8 presents a new angle to the reporting and analysis of the PIB, covering some of the most important developing situations and key issues energy investors, policy makers, parliamentarians and stakeholders should be aware of. It argues that there are obvious gaps in the PIB in terms of its fiscal competitiveness, stability and certainty of future investments. It is expected that some of these controversial areas will be resolved during the process of legislative debates so that a workable and globally competitive petroleum bill will be passed soon.
It is further hoped that the recommendations proffered in this paper will contribute to the passage of a bill that ensures an efficient and independent regulatory environment, promotes transparency and maximizes petroleum revenues for the government while ensuring sustained investments to meet present and future energy needs.
S4C’s policy briefing papers are issued under the auspices of the organization’s Policing the Policy (PtP) Series which uses the human rights paradigm to police and analyze social and economic policies and development programs of the Nigerian government. Under this banner, S4C actively participates in the promotion, evaluation and setting of strategic policy directions on specific social and economic issues that coincide with the organization’s thematic focal points: economic governance; environmental justice; security and conflict, housing and urban development; women’s rights and youth development.
This policy briefing paper is now available online, and can be downloaded on our website: www.spacesforchange.organd on our E-Library: