In Part 1 of this article series, we examined the regulatory framework governing the assignment of interests in Nigeria’s upstream oil and gas sector under the Petroleum Industry Act (PIA). We highlighted the types of transactions that require ministerial consent, those that do not, the fees involved, and the consequences for non-compliance.
A solid understanding of these requirements enables investors to structure transactions that are commercially sound, legally compliant, and aligned with long-term strategic objectives.
In this second part, we focus on the regulatory framework for assignments in the midstream and downstream sectors and conclude with a comparative analysis of how the rules differ across the upstream and midstream/downstream segments.
