An Examination of Upstream Licenses and Leases under the Petroleum Industry Act, 2021

Authors

  • PROF. LAWRENCE ATSEGBUA Author
  • EDAMWEN OGBINNA Author
  • FOLARIN DIMOWO Author

Keywords:

Petroleum Industry Act, Upstream petroleum operations, Petroleum Exploration Licence, Petroleum Prospecting Licence, Petroleum Mining Lease, Nigeria petroleum industry, Field Development Plan, Bidding process, Acreage management, National Grid System, Assignment and revocation, Relinquishment and surrender, Change of control, Ministerial consent

Abstract

The Petroleum Industry Bill was signed into law on the 16th of August
2021. The Petroleum Industry Act, 2021 (PIA) is the most detailed
and comprehensive law governing the operations of the petroleum
industry in Nigeria. In this article, the authors examine the changes
introduced by the PIA on the legal framework governing the grant of
licences and leases in Nigeria. In addition, the authors argue that the
changes introduced by the PIA will promote the efficient, effective
and sustainable development of the petroleum industry.

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Published

2026-07-19

Issue

Vol. 5 No. 1 (2026): NOUN INTERNATIONAL JOURNAL OF PRIVATE AND PROPERTY LAW

Section

Articles