If the final Petroleum Industry Bill (PIB) contains strong transparency and accountability provisions, Nigeria’s oil sector performance has real opportunity to improve. Transparency encourages competition, discourages illicit behavior and attracts investment. Accountable institutions reassure investors, improve regulation and revenue collection and result in higher production and earnings. Given oil’s prominent role in the economy, Nigeria will struggle to break in to the top 20 economies without such reforms... [refers to Nigerian National Petroleum Company (NNPC)]