Senate passes long-awaited Petroleum Industry Bill
The Senate has passed the long-awaited Petroleum Industry Bill (PIB).
The bill was passed during the plenary on Thursday after much consideration and adoption of the clauses.
The Senate had met with the Minister of State for Petroleum, Timipre Sylva, and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, prior to the passage of the bill.
The Petroleum Industry Bill seeks to bring governance issues in the oil and gas sector in tandem with international best practices, as well as make the oil and gas industry more transparent and competitive.
Senate President, Ahmed Lawan said the Senate expects President Buhari to sign the bill as soon as it is transmitted.
