National Assembly to pass Petroleum Industry Bill in December

Senate President Bukola Saraki has said the National Assembly will ensure the passage of the Petroleum Industry Bill-PIB by December this year.
Saraki stated this in Lagos at the Nigeria Oil and Gas Industry Research and Development Fair and Conference 2017, organised by the Nigerian Content Development and Monitoring Board.
Saraki, who was represented by the Chairman, Senate Committee on Petroleum Upstream, Senator Tayo Alasoadura, said the PIB established clear rules, regulations, procedures and institutions for the efficient administration of the petroleum industry.
He noted that the Petroleum Industry Administration Bill, Petroleum Industry Fiscal Bill and Petroleum Host Community Bill had all gone through second reading.
On his part, the Minister of State for Petroleum Resources, Ibe Kachikwu, said the nation’s oil and gas industry had operated for about 60 years, but sufficient attention had not been paid to the development of local research capabilities.



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