Host community development Trusts
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Petroleum Legislation and the Economic Impact of the Petroleum Industry Act (PIA) in Nigeria
Abstract: The Petroleum Industry Act (PIA) was enacted in 2021 to reform Nigeria’s petroleum sector by improving regulatory efficiency, investment climate, revenue generation, and host community engagement. This study examines its economic impact using policy analysis, economic data review, and comparative assessment with global best practices. Findings reveal that the PIA has improved governance, with NNPC Limited recording a 28% profit increase in 2024. However, regulatory uncertainty, such as the blocked …
Published in Journal of Petroleum Engineering & Technology · Vol. 15, Issue 3, 2025 · pp. 01–07 Read article