The House of Representatives has passed the Petroleum Industry Bill into law today, July 1.
Members of the lower chamber of the national assembly passed the bill after consideration of the report of the ad hoc committee chaired by Mohammed Monguno.
The lawmakers passed the bill following the clause by clause consideration on the report at the committee of the whole.
The session which passed the bill was presided over by the Deputy Speaker of the house, Idris Wase.
On 28 September 2020, the President presented the PIB to the National Assembly for consideration.
The Bill seeks to introduce pertinent changes to the governance, administrative, regulatory and fiscal framework of the Nigerian oil and gas industry, in order to ensure transparency, strengthen the governing institutions and attract investment capital, among other objectives.
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