Petroleum Industry Bill - Carrots & Sticks

The bill imposes a requirement on all licensed petroleum operators to submit an environmental quality management plan, to ensure compliance with environmental laws and to establish and monitor health and safety standards in the industry. It also sets out obligations with respect to human rights, including labour rights and gender equality

Issuer name

Senate Joint Committee

More information

The Bill establishes/confirms a number of new/existing institutions, which can be broadly classified into the following categories: i. Policy and general strategy formulator– Tasked with setting overall policy and direction for the industry; ii. Regulator – Charged with regulating the entire industry; iii. Commercial Institutions – Tasked with holding and managing the assets and interests of the Government; iv. Ancillary Institutions – Tasked with the provision of specific support services assigned to them

Organizations covered by the instrument

All Companies

Target organization notes

Applies to all licensed petroleum operators in Nigeria

Industry scope

All/none specified

ESG coverage - E (Environment)

All

ESG coverage- S (Social)

All

Status

Current

Country

Nigeria

Region

Africa & Middle East

Date of publication

2017

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Go to the instrument