President Muhammadu Buhari has formally transmitted Petroleum Industry Bill (PIB) to the National Assembly for passage into law.
President Buhari had in a letter dated 2nd September 2020, titled: Transmission of the Petroleum Industry Bill, 2020 for consideration and passage into law’, addressed to the Speaker of the House of Representatives, Hon. Femi Gbajabiamila solicited for expedite consideration and passage of the bill aimed at reforming the petroleum industry.
“Pursuant to section 58 of the constitution of the Federal Republic of Nigeria 1999 (as amended), I formally request the consideration and passage into law by the House of Representatives the Petroleum Industry Bill, 2020.
In particular, the House of Representatives may wish to note that the bill combines, in a single tone, aspects for significant reforms to the laws governing the Nigerian petroleum industry that was previously set out in two distinct frat legislation namely, the Petroleum Industry Bill, 2020 and the Petroleum Industry Fiscal Bill, 2020.
“While I trust the House of Representatives will in their usual expeditious manner favourably consider the passage of the bill into law, please accept, Right Honourable Speaker, the assurance of my highest consideration.
In his welcome remarks, the Speaker who confirmed receipt of the PIB from the Executive assured that the House will commence the consideration of the bill shortly.
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“The House has received and will shortly begin consideration of the Petroleum Industry Bill (PIB) as part of our efforts to achieve wholesale reform of the oil and gas sector in Nigeria.
“This is not the first time that we have initiated the Petroleum Industry Bill or similar efforts at broad oil and gas sector reform in the National Assembly. I assure all Nigerians that we in the 9th House of Representatives fully intend to succeed this time around.
“However, I must appeal to stakeholders in the public and private sector, to the media, to the host communities and all who wish our country well to support this process.
“Let us reject cynicism and resist all attempts to frustrate this reform effort in service of the narrow interests of any particular group. Let us put Nigeria first so that history may judge us kindly,” Hon. Gbajabiamila urged.
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