Executive summaryThe Nigerian President, President Muhammadu Buhari, presented the reworked Petroleum Industry Bill (PIB or the Bill) to the Nigeria Legislature for consideration after many delays in the legislative review process over the past 15 years.The Bill, which is intended as a complete overhaul of the Nigerian oil and gas sector, seeks to, among others, ensure an increased level of transparency and accountability in the sector by strengthening the governing institutions to attract investment capital through changes to the governance, administrative, regulatory and fiscal framework of the Nigerian oil and gas industry.This Alert summarizes the key changes introduced to the...