Petroleum Industry Bill passes first reading in Senate

The Petroleum Industry Bill (PIB), on Wednesday, was read for the first time in the Senate. The Executive bill was forwarded to both the Senate and the House of Representatives for consideration and passage two weeks ago. FG Seeks Quick Passage Of PIB, Says Days Of Oil Numbered PIB Passage Will Guarantee Reforms In Petroleum […]

The Petroleum Industry Bill (PIB), on Wednesday, was read for the first time in the Senate.

The Executive bill was forwarded to both the Senate and the House of Representatives for consideration and passage two weeks ago.

• FG Seeks Quick Passage Of PIB, Says Days Of Oil Numbered
• PIB Passage Will Guarantee Reforms In Petroleum Downstream Sub-Sector, Says APC

The federal government had sought quick passage of the bill by National Assembly.

The President of the Senate, Ahmad Lawan had, during an interactive session with the Minister of State for Petroleum, Mr Timipre Sylva on Monday, said though the PIB seemed to be jinxed since 2007 and 2019, the fresh effort will surely see the light of the day.

“We want to break the jinx and we shall break it with the latest bill forwarded to us by the Executive arm of government” he said.

He, however, added that it is difficult to put a time frame on when the bill will be passed because details of its contents must be understood and thoroughness applied in its consideration.

Also, the Speaker, House of Representatives, Femi Gbajabiamila, said though the bill will be considered and passed speedily but thoroughness will not be sacrificed.