October 27th, 2021 Oil and Gas

Three Things to Know About the Petroleum Industry Act (PIA)

In August 2021, Nigeria signed the Petroleum Industry Bill (PIB) into law. Before signing the bill, there had been concerns over the solvency of the Nigerian National Petroleum Corporation (NNPC), especially as it failed to record profit and the corporation’s revenue accounted for a part of the federal government’s revenue. In this report, we bring to you key points and major highlights of the act especially in relation to the profitability of the NNPC, host communities and gas flaring.

January 25th, 2021 Oil and Gas

Nigeria’s Weak Regulatory Framework around Oil Spills infringe on SDG 13-15

Oil refineries have continued to contribute to environmental degradation for close to a decade;

September 16th, 2020 Oil and Gas

Petroleum subsidy inevitable save the nullification of two laws

The ensuing dialogue that followed FG’s announcement of oil and gas deregulation has brought with it many revelations. One of which is how this pseudo regulation is void as long as they do not repeal two laws. Israel Aye, Senior Partner- Energy & Commercial Contracts nudged our attention to Sections 6(1) of the Petroleum Act and 4(1) of the Price Control Act.

May 27th, 2020 Budget

610 Personnel Earn More Than the President as DPR Paid ₦8 Billion Salary Upfront in January

Data analysis by Dataphyte has shown the Department of Petroleum Resources (DPR) paid over 8 billion as salary upfront in January 2020. This is according to the daily payment data published on the open treasury portal.

December 4th, 2019 Oil and Gas

At Least 137 Billion Naira Petroleum Equalization Fund Unaccounted For

At least 137 billion naira of bridging allowance is unaccounted for by the Petroleum Equalization Fund (Management) Board, an analysis by DATAPHYTE has shown.