News
Petroleum Industry Bill: Senate To Receive Final Report on PIGB on April 24
Barring any last minute changes, the Senate Joint Committee on Petroleum (Upstream, Downstream and Gas), will on 24th April lay the final report of the Petroleum Industry Governance Bill (PIGB) before the Senate for consideration and approval.
According to a schedule on the final stages of the committee’s work, members of the committee will on Tuesday 4th April, 2017, hold their final joint meeting at a one-day retreat in Abuja.
During the session, the committee members, among others, would receive further input, deliberate on their findings and recommendations, and conclude their report for submission to the Senate.
Furthermore, they are expected to submit the final printed copy of the report to the Senate on April 6, 2017, while the main report is expected to be laid before the Senate on April 24, 2017 for final consideration and approval.
It could be recalled that the PIGB, according to the Senate President, Dr. Abubakar Bukola Saraki, during a three day public hearing organized by the Committee in December 2016, is meant to create efficient and effective governing institutions with clear and separate roles for the petroleum industry.
Besides, he stated that the Petroleum Industry Bill also seeks to establish a framework for the creation of commercially oriented and profit driven petroleum entities that ensures value addition and internationalization of the petroleum industry; promote transparency in the administration of the petroleum resources of Nigeria; and create a conducive business environment for petroleum industry operations.
