In Nigeria, implementing reforms in public institutions has always been a difficult task. This is because such tasks come with a lot resistance. The enactment of the Petroleum Industry Act (PIA) 2021 has engendered a new regulatory and governance architecture in Nigeria, thereby providing enormous opportunities that will reshape the landscape of the petroleum industry in Nigeria.
Generally, the PIA focused and provided clarity on the oil and gas governing institutions in Nigeria, evolving petroleum administration systems, community stakeholders’ management system, and fiscal application systems.
