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The newly appointed Minister of State for Petroleum Emmanuel Ibe Kachikwu said on Wednesday that Nigeria will amend its long-awaited petroleum industry bill (PIB) to speed its passage,
The government may remove the taxation element from the bill in an effort to pass it, said Kachikwu, who is also the head of the state-owned Nigerian National Petroleum Corporation (NNPC).
Nigeria’s oil bill has been in the works for a decade. It is meant to change everything from taxes to overhauling the NNPC, environmental rules and revenue sharing, but its comprehensive nature has caused disputes between lawmakers.
