Senate confirm receipt of Petroleum Industry and Governance Bill

shakirudeen taiwo

April 7, 2017 1:19 PM

The reintroduction of the PIB to the Legislative houses is a step forwards towards the Nigeria oil and gas industry reformation.

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The Nigerian upper legislative house, the Senate, have confirmed the receipt of the long-awaited oil industry bill from the Executive arm of government.

The new bill is part of the proposed reforms that make up the sprawling Petroleum Industry Bill (PIB), which has been in public discussion for over a decade. The PIB has been redrafted many times.

Nigeria’s Senate President, Bukola Saraki said, “The bill’s acceptance into the upper house market the closest it has yet come to becoming law”.

“I think we are all proud that we have gone this far and we have finally broken this jinx,” he said in a statement.

The new bill is expected to receive accelerated readings from the Senate, after which it will be transmitted to the House of Representatives. With the approval of both houses, the final version will be sent to the President for accent.

The backers of this bill consider its passage into law as a prelude to reform of the Nigeria oil and gas industry.

shakirudeen taiwo

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