The Senate has dismissed reports that it has put on hold consideration of the Petroleum Industry Bill (PIB) because it would be attending to the 2021 budget.
The Senate said it never made such decision but has instead finalized preparation for the second reading passage of the Petroleum Industry Bill (PIB) in the next two weeks.
Chairman Senate Committee on Media and Publicity, Senator Ajibola Bashiru said this during an interactive session with journalists at the Senate on Thursday.
Bashiru said the national assembly will consider both bills side by side for the benefits of the country especially as it would create more revenue sources for funding the budget and boosting the economy.
“An issue was raised that the Senate said it is suspending consideration on Petroleum Industry Bill (PIB) till next year because of the budget. That is not true. The Senate is committed to the expeditious passage of the PIB because it is Central to the realization of revenue and putting our oil in the competitive international market.
“On the 20th of October, the Petroleum Industry Bill would enter second reading after which it would be sent to the relevant committees of the Senate, that is the committees on Upstream, downstream and gas sector.
“Of course as work is being done in the 2021 budget. Work will be done at the same time on the Petroleum Industry Bill. It is still a life issue and as part of our legislative agenda, just as we are committed to ensuring strict scrutinization of the legislative framework.”
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