National Assembly assures of PIB passage before June ends

The Senate President, Ahmad Lawan on Monday disclosed that the Petroleum Industry Bill, PIB, which has been 20 years in making, will be passed before the end of June 2021.

He made this disclosure at the opening of the 2021 Nigeria International Petroleum Summit, NIPS, in Abuja, that the joint committee of the Senate and the House of Representatives are almost concluding the writing of its report.

The Senate President explained that “The speed and commitment the National Assembly has shown in working on the PIB and reaching where we are today show that we have chosen the right path.”

Adding that , “As I speak, our joint committee of both Senate and the House on the PIB are about to conclude writing the report which will be submitted to both chambers of the National Assembly. Our expectation is that we will pass the PIB within this month of June by the grace of God”.

He assured that the final product of the PIB will be a product that will be a win-win for everyone.

The Speaker of the House of Representatives, Femi Gbajabiamila assured operators and stakeholders that the PIB as presently conceived is not intended to drive anyone out of business, noting that rather the National Assembly is working to promote operation in the sector.

According to him, “We are expected to encourage business whether foreign or local or community-based. But as competing interests juggle and try to elbow each other out, it is the role of the National Assembly to look for a balancing act, bearing in mind that the most important interest for us is that national interest and it is that our national interest that we have that we will look at while considering other competing interests to strike a very delicate balance in this industry.”

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