The troubles with Petroleum Industry Bill

IT is utterly shameful that more than 10 years after the introduction of the Petroleum Industry Bill, its fate still hangs in the balance despite promises by successive governments to ensure its passage. The long delay has wreaked havoc on the country’s oil and gas industry that accounts for the bulk of government revenues.

In July 2012, the administration of President Goodluck Jonathan forwarded a revised version of the PIB to the Seventh NASS. But the bill suffered the same fate that befell it in the previous legislative cycle; it was passed by only the House of Representatives at the tail end of their term.

In December 2019, the Senate President assured Nigerians that the upper chamber would begin work on the PIB in January, but that did not happen. Before the outbreak of the COVID-19 pandemic in the country, Lawan lamented in March the delay in the submission of the PIB by the Presidency. The Minister of State for Petroleum Resources, Timipre Sylva, had said in mid-July this year that the NASS would get the bill in two weeks.

SenatorLawan What's the problem with the electoral bill sir?

WE ARE GETTING THERE I have confidence in this generation of Oduduwa Republic agitators. Don't let Thiefnubu deceive you, remain resolute.

Just passing

Nigerian Senate should be Scrapped!!!

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Delay in PIB passage stifling Nigeria’s petroleum industry, says NNPC GMDMr Kyari lamented that international investors in the oil and gas industry were fast losing confidence in Nigeria as a result of the absence of a petroleum industry law to guarantee a stable investment environment.
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