That the news of the proposed amendment of the PIA has been in the public space for a full week without denial could only mean that there could be some substance in it. It is not news that the oil and gas sector is one of the foremost revenue earners for the Federal Government and the Nigerian Federation. The sponsors of the amendment need to carefully consider the impact that this proposed provision could have on investors’ confidence. The proposed amendment to have the NUPRC serve as concessionaire could also present grave unintended legal implications for the country. The sponsors of the amendment would do well to look closely at the legal risk that the proposed amendment holds for the country before going ahead with it.