Gbajabiamila Assures PIB To Be Passed In April

The National Assembly has reiterated its commitment to ensure the passage of the Petroleum Industry Bill into law by April 2021.

The Speaker of the House of Representatives, Femi Gbajabiamila, gave the assurance while making remarks at the public hearing organized by the Ad-hoc Commitee of the House on PIB on Wednesday.

The Speaker stated that the speedy passage of the PIB would not in anyway diminish the thoroughness the lawmakers were expected to give it.

“We intend to pass this bill by April. That is the commitment we have made. Some may consider it a tall order. But we will do it without compromising the thoroughness”, he said.

Also speaking, the Minister of State for Petroleum Resources, Timipre Silva expressed happiness that after 20 years of its introduction to the National Assembly, both the Senate and the House have shown sustained determination to pass the bill into law.

Similarly, the Group Managing Director, (GMD) of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, offered a glimpse of hope that oil will still be relevant in the next 30 years.

He said the passage of the bill into law will bring about the needed vigour and transparency that would in turn engender productivity in the petroleum industry.

On his part, the Chairman, Federal Inland Revenue Service, FIRS, Mohammed Nami said: “the bill when passed into law will promote economic growth and make the petroleum sector competitive.”

The Chairman aligned the Service to the objectives of the bill saying;
“FIRS is in total support to develop the oil and gas industry in line with the international best practices.”

Termed “A Bill for an Act to Provide Legal, Governance, Regulatory and Fiscal Framework for the Nigerian Petroleum Industry, the Development of Host Communities and for Related Matters (HB. 1061)”, PIB is an executive bill that debuted in the national assembly 20 years ago.

But high profile-vested interests, according to reports, had stifled its legislative progress and passage for the past 20 years.

Recall that President Muhammadu Buhari on September 20, 2020 retransmitted the bill to the National Assembly for which the House adhoc committee chaired by Hon. Mohammed Tahir Monguno (APC, Borneo), is holding the public hearing.