NIGERIAN lawmakers will begin poring over the latest version of the first component of anticipated oil reform legislation before the end of July, two decades after the legal overhaul was originally mooted. "The Petroleum Industry Bill (PIB) is still in draft and has undergone several modifications but has not been watered down and will accommodate everybody's interests including that of industry, the government and the host communities," Minister of State for Petroleum Resources Timipre Sylva told local media last weekend. Addressing a webinar, the Nigerian Secretary General of African Petroleum Producers' Organisation (APPO), Omar Farouk, said :"The reform package, even if not passed till the end of the first quarter of 2021 and with a far higher tax take than industry expects, will at least give investors the confidence on returns that they need."
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