Nigerian President Muhammadu Buhari on Monday signed the country’s newly passed petroleum bill into law, marking the end of 20 years of efforts at Africa’s top oil producer to overhaul its oil industry. Last month, Nigeria’s House of Representatives voted to approve a new petroleum industry bill in Africa’s top oil producer and exporter, putting an end to 20 years of debates and delays. The House voted in favor of the bill after the Senate had endorsed the new legislation earlier. The new petroleum bill aims to attract more foreign capital to the country’s oil sector, Nigeria says. The Petroleum Industry Bill (PIB) has been two decades in the making to overhaul the way Nigeria will share its oil resources with international oil companies as the country looks to attract new investment in oil and gas. International oil majors have not been flocking to Nigerian oil assets now that […]