SAN FRANCISCO, April 28, (THEWILL) – The National Assembly has sent the harmonised copy of the Petroleum Industry Governance Bill (PIGB) to President Muhammadu Buhari for assent into law.
This comes after almost 18 years of being in the woods without clear consideration by successive governments and the legislature.
The Senate President made the revelation via his Twitter handle, @SPNigeria.
“Another #PromiseKept by the 8th National Assembly and Senate President, Dr. Abubakar Bukola Saraki,” the tweet read.
“After 18 years, President Muhammadu Buhari, has finally received the harmonised copy of the #PIGB from the 8th National Assembly.”
The original Petroleum Industry Bill (PIB) from which the PIGB was carved out had passed through many executives and legislative administrations without much success until this current National Assembly.
The lawmakers decided to break it into three and passvthem in phases – the PIGB; Petroleum Industry Fiscal Bill; and Petroleum Industry Host Communities Bill.
THEWILL gathered that the PIGB was sent to Buhari on Wednesday by the assembly.
The PIGB is expected to introduce new reforms in the governance of the oil industry as it would bring up new regulatory agencies in the industry, as well as reform the Nigerian National Petroleum Corporation (NNPC) into a commercially viable entity.
