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Petroleum Industry Act, 2021

The Petroleum Industry Act (PIA) of 2021 replaced the Petroleum Act of 1969 and other related laws. The Act aims to reform Nigeria's oil and gas industry by introducing new regulatory bodies, a new fiscal framework, and provisions for host communities, influencing upstream, middle, and downstream sectors. The Act established and provides for the administration of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Nigerian National Petroleum Company Limited, and the Nigerian Upstream Regulatory Commission.

This statute is indispensable for legal practitioners, investors, operators, regulators, and policymakers engaged in petroleum sector transactions, regulatory compliance, and dispute resolution.