President Muhammadu Buhari in a letter transferred the Petroleum Industry Bill (PIB) to the National Assembly for passage into law.
The letter titled: ‘Transmission of the Petroleum Industry Bill, 2020 for consideration and passage into law’ stated;
“Pursuant to section 58 of the constitution of the Federal Republic of Nigeria 1999 (as amended), I formally request the consideration and passage into law by the House of Representatives the Petroleum Industry Bill, 2020.
In particular, the House of Representatives may wish to note that the bill combines, in a single tone, aspects for significant reforms to the laws governing the Nigerian petroleum industry that was previously set out in two distinct frat legislation namely, the Petroleum Industry Bill, 2020 and the Petroleum Industry Fiscal Bill, 2020.
“While I trust the House of Representatives will in their usual expeditious manner favourably consider the passage of the bill into law, please accept, Right Honourable Speaker, the assurance of my highest consideration.
The Speaker of the House of Representatives, Hon. Femi Gbajabiamila who confirmed receipt of the bill to be passed into law said:
“The House has received and will shortly begin consideration of the Petroleum Industry Bill (PIB) as part of our efforts to achieve wholesale reform of the oil and gas sector in Nigeria.
“This is not the first time that we have initiated the Petroleum Industry Bill or similar efforts at broad oil and gas sector reform in the National Assembly. I assure all Nigerians that we in the 9th House of Representatives fully intend to succeed this time around.
“However, I must appeal to stakeholders in the public and private sector, to the media, to the host communities and all who wish our country well to support this process.
“Let us reject cynicism and resist all attempts to frustrate this reform effort in service of the narrow interests of any particular group. Let us put Nigeria first so that history may judge us kindly,”