Energy Chamber Salutes Nigerian President H.E. Muhammadu Buhari Signs Historic Petroleum Industry Bill into Law, Steering the Country into a New Era of Investment - Rokoto

Energy Chamber Salutes Nigerian President H.E. Muhammadu Buhari Signs Historic Petroleum Industry Bill into Law, Steering the Country into a New Era of Investment

The signing of the PIB represents a significant moment for Nigeria, and is expected to drive foreign investment through an established enabling environment, large-scale energy developments through a productive and coherent regulatory framework, and increased local participation through local content focused policies. Accordingly, the Bill has paved the way for an influx in new developments, and African Energy Week (AEW) taking place in Cape Town on the 9th-12th of November 2021 aims to emphasize this.

The African Energy Chamber will continue to advocate for policies that encourage transparent implementation of the PIB. Government policies and the implementation team must be rational, fair and honest. They must do their work to ensure that this PIB spur’s investment, innovation and competition.

“Nigeria has managed to elevate itself onto the global energy stage through the passing of its PIB. The recently signed PIB not only increases the competitiveness of the Nigerian energy sector, but through fiscal incentives, market-driven policies, and unified regulations, the Bill has positioned the country as the premier investment destination for both regional and international investors. AEW 2021 will put Nigeria and its transformative PIB on show in Cape Town and, through its exclusive networking opportunities, will drive investment in one of Africa’s most formidable markets,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

AEW 2021 in Cape Town will showcase and promote Nigeria’s post-PIB opportunities, uniting investors and international partners with Nigerian stakeholders. With a Nigerian delegation coming to Cape Town led by H.E. Chief Timipre Sylva, Nigeria’s Minister of Petroleum, Nigeria will be on show to the world and investors will have a first-hand look at emerging opportunities and competitive prospects. Join international stakeholders, government representatives, and private sector executives at Africa’s premier energy event, and be part of Nigeria’s exciting energy future.

Distributed by APO Group on behalf of African Energy Chamber.

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