Nigeria’s Senate passed a long-awaited oil governance bill on Thursday which the president of parliament’s upper chamber said would improve transparency in the OPEC member’s energy industry and stimulate growth in the sector.

The Petroleum Industry Governance Bill is one part of proposed reforms that make up the sprawling Petroleum Industry Bill (PIB), aimed at overhauling Nigeria’s energy sector which has been hobbled by corruption and mismanagement for decades.

The PIB, which has been discussed for over a decade following several redrafts, is central to President Muhammadu Buhari’s reform plans because oil sales provide 70 percent of government revenue in Africa’s biggest economy.

http://medianet.info/2017/05/27/nigerias-senate-passes-oil-governance-bill/