The President of Nigeria, Bola Ahmed Tinubu (the "President"), on 6 March 2024, signed Executive Orders on oil and gas reform and issued three (3) policy...
The passage and signing of the highly anticipated Petroleum Industry Act is a watershed moment in the oil and gas sector and stakeholders, albeit in the private or public sector, will be affected by its wide provisions.
The Petroleum Industry Act, 2021 (PIA) provides a new fiscal and regulatory framework for Nigeria's petroleum industry. The PIA is a major milestone in a long history...
Having satisied all conditions imposed on the licensee and contained in the Oil Prospecting Licence (OPL), and upon commercial discovery of oil, a holder of an OPL was required to obtain an Oil Mining Lease (OML).
The Nigerian Minerals and Mining Act 2007 ("the Act") was passed into law on March 16, 2007 to repeal the Minerals and Mining Act, No. 34 of 1999 for the purposes of regulating the exploration and exploitation of solid materials in Nigeria.
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