President Muhammadu Buhari Monday signed the Petroleum Industry Bill 2021 into law.
The President who returned to the country from the United Kingdom on Friday assented to the Bill while quarantining at the Aso Villa.
The Petroleum Industry Act provides a legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.
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The Nigerian Senate had passed the Bill on July 15, 2021, while the House of Representatives also passed it on July 16.