The Petroleum Industry Bill and the Future of NNPC

The 2012 Executive Draft of the Petroleum Industry Bill (2012 PIB) proposes to restructure the Nigerian National Petroleum Corporation (NNPC). This is potentially welcome, yet the bill ultimately fails to offer a clear path to more effective management of Nigeria’s state-owned oil enterprises. This report is based on comparative analysis of 12 national oil companies (NOCs) and NNPC’s current situation, this brief concludes that the 2012 PIB is unlikely to significantly advance the four goals of commercialization; sustainable finance; limited political interference in technical decisions and transparency and public accountability.