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The Nigerian Senate has finally fixed a date to consider the report of the Joint Committee on Petroleum (Downstream); Petroleum (Upstream) and Gas Resources on the Petroleum Industry Bill (PIB), 2021 (SB. 510).
TheNewsGuru.com (TNG) reports Senate President Ahmad Lawan made this known on Tuesday, saying the Senate will consider the joint committee report on the PIB on Thursday, July 01, 2021.
The PIB, which was first presented at the National Assembly in 2008, is an omnibus law to regulate the entire spheres of the industry.
The bill, intended as a complete overhaul of Nigerian oil and gas sector, seeks to among others ensure an increased level of transparency and accountability by strengthening governing institutions to attract investments in the industry.
TNG recalls that the PIB had passed all the stages and public hearing at the National Assembly and a committee was set up to finalise the findings on the bill.
President of the Senate, and the Speaker of the House of Representatives, Hon. Femi Gbajabiamila had at several fora assured that the bill would be passed in June.
Disclosing the date to consider the joint committee report on the PIB, Lawan said, “We will be considering the report on Thursday. We have today, tomorrow and Thursday to look at the report so that when we consider the report, we will be doing so on the basis of what we have been able to read from this very important report.”
The Senate President urged the Joint Committee to provide lawmakers with copies of the bill ahead of its consideration to enable them study its content.
“Let me use the opportunity to thank our Joint Committee for working so hard, selflessly and patriotically to produce the report on the Petroleum Industry Bill.
“This report, a copy each, must be made available to each and every Senator today, this afternoon.
“I don’t know how the Committee would arrange it, but every Senator must have a copy today.
“And we would be considering the report on Thursday.
“So, we have today, tomorrow until the beginning of Thursday to look at the report so that when we consider it, we will be doing so on the basis of what we have been able to read from this very important report,” Lawan said.