PIB BILL 2021 SAILS TRUE THE SENATE
Oru Leonard
The Senate, today has passed the Petroleum Industry Bill (PIB), 2021 after t clause by clause scrutiny by the joint committee on petroleum (upstream , downstream and gas).
The Senate had earlier held a closed session with the Minister of State for Petroleum, Timipre Sylva and the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari.
The Senate approved 3 per cent for the host communities as opposed to 5 percent that was proposed by the South South lawmakers.
Senate President Ahmed Lawan congratulated the lawmakers and said the Ninth National Assembly has achieved one of its fundamental legislative agenda.
The Senior Special Assistant to the President on NASS Senate, Senator Babajide Omoworare CON has also congratulated President Muhammadu Buhari, the Senate President Ahmed Lawan and the Speaker House Representatives Femi Gbajabiamila on the passage of the Petroleum Industry Bill by the National Assembly.
Noting that efforts by the Executive and Legislature in Nigeria to put in place contemporary legislative and Legal framework in the oil and gas sector has proved abortive since the year 2000; Senator Omoworare said the extant framework has been the Petroleum Act of 1967, which has affected inflow of Foreign Direct Investment as well as growth in the Local Content.
The Senate Presidential Liaison Officer said breaking this jinx and achieving this feat is a testament that the Executive and the Legislature can really work together and truly engage each other, without compromising party position and individual perspective, in the most positive manner with a view to actualizing the common goal and communal good for Nigerians.
Senator Omoworare also thanked the leadership and Members of the Senate and House of Representatives, as well as the Minister of State for Petroleum, Timipreye Silva and the Group Managing Director of Nigeria National Petroleum Corporation Mele Kolo Kyari for their focused and tenacious attitude to achieving thus milestone.
