Barley one month after the effective passage of the Petroleum Industry Governance Bill (PIGB), the Senate on Thursday, has kept to her promise by speeding up the legislative work on other three segments of the oil industry bills.
The upper chambers had crossed the crucial Second Reading of the three remaining bills designed to reform, covering host communities, investment and administrative issues in Nigeria’s petroleum industry.
The bills are now at the Committee stage where it will be developed in clause by clause in readiness for the crucial third reading possibly before the end of the year as previously promised by the lawmakers.
The three Committees working on the bills include the joint committee on petroleum (downstream), petroleum (upstream) and gas, which are to report back to the Senate in four weeks.
The three pieces of proposed legislation are: a bill for an Act to provide for framework relating to petroleum producing Host community’s participation, 2017 (SB. 404) by Kabiru Marafa, APC-Zamfara; a bill for an Act to establish a fiscal framework that encourages investments in the petroleum industry, 2017(SB.472) by Tayo Alasoadura, APC-Ondo; and a bill for an Act to provide for the administrative framework for the Petroleum Industry, 2017 (SB. 540) by Bassey Akpan, PDP -Akwa Ibom.
