Omon-Julius Onabu
Both arms of the National Assembly, the Senate and the House of Representatives, on Thursday passed the Petroleum Industry Bill (PIB).
The bill, which is expected to midwife a law to transform the oil and gas industry in Nigeria, was first passed at the House of Representatives following consideration of the clauses of the PIB by the Committee of the Whole, based on the recommendation of the House Committee on PIB.
Mohammed Monguno, Chairman of the ad-hoc committee on Petroleum Industry Bill (PIB), had presented a report and the lawmakers voted on 319 clauses of the bill.
By the passage of the bill at the green chamber of the National Assembly, the Ninth House would have succeeded in enacting a remarkably important piece of legislation, Moguno remarked.
He noted that the PIB would enhance transparency, accountability and competitiveness in both the upstream and downstream sectors of the oil and gas industry in Nigeria.
In his remarks after the passage of the bill, the Speaker, Hon Femi Gbajabiamila, commended the lawmakers for “making Nigeria proud” by the singular legislative action.
In the same vein, the PIB was passed in the Senate after a clause-by-clause consideration of the report of senate joint committee on Petroleum (Upstream, Downstream and Gas) on PIB.
Senate President, Hon Ahmad Lawan, commended the legislator for their commitment and hard work, saying that the Ninth National Assembly has achieved one of its fundamental legislative agenda.
