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16 Aug 2021

OPEC congratulates President Buhari of Nigeria on ratifying the Petroleum Industry Bill

Vienna, Austria, 16 August 2021--OPEC Secretary General, HE Mohammad Sanusi Barkindo, extended his sincere congratulations in a letter to HE Muhammadu Buhari, President of Nigeria, on signing the Petroleum Industry Bill (PIB) into law.

The Secretary General highlighted that the passing of the bill into a national law marks a significant milestone for Nigeria’s oil industry and a historic achievement for Buhari’s Presidency.

“With the stroke of a pen, you have inaugurated a new era for the industry following years of legislative efforts to strengthen the legal, regulatory, fiscal and governance framework of the petroleum sector. Indeed, the new law will enhance the Nigerian petroleum industry’s reputation, open the door to new investment, and ultimately strengthen its position to meet the world’s growing demand for energy,” Barkindo stated.

A copy of the letter can be found below:

Letter to the President.