National Assembly To Pass Petroleum Industry Bill Before 2017 End, says Dogara.
The Speaker of the House of Representatives, Yakubu Dogara, has said that the passage of the Petroleum Industry Bill (PIB) by the National Assembly, especially the lower chamber, may become feasible before the end of the year.
Dogara, spoke yesterday in Abuja at a stakeholders’ dialogue organised by the Civil Society Legislative Advocacy Centre (CISLAC) to fast-track the passage of the bill, insists it is high time the bill becomes law to speed up transformation in the sector and boost the sector’s contribution to the economy.
The Speaker, represented by Chairman, House Committee on Petroleum Upstream, Victor Nwokolo, was optimistic that current effort by the House on the bill would yield meaningful result as soon as possible.
Dogara added: “We are working seriously on it. I don’t think it will delay beyond this year.” Therefore said, that the current governance crisis in the sector and other emerging issues in the industry would force the House to pass the bill to the best interest of Nigerians.
However, industry experts at the forum said the bill, if not signed as quickly as possible, would continue to hamper the sector’s growth, including revenue losses amounting to about $200 billion.
The Executive Director of CISLAC, Auwal Ibrahim, who charged the House members not to be intimidated by any interest group, lamented that projected economic benefits from the sector would remain elusive if the bill is not passed.