All four parts of PIB will be ready for passage by March 2018 – Senate


The Senate has hinted that the long-delayed Petroleum Industry Bill (PIB) will be assented to by President Muhammadu Buhari before the end of the first quarter of 2018, Tribune reports.

Vice Chairman, Senate Committee on Petroleum Resource (Upstream), Senator Gershom Bassey, gave the hint in Lagos on Friday, while speaking at the opening ceremony of the 35th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE).

He said the Senate decided to divide the entire bill into four parts in order to ensure its easy passage, noting that the first part, the governance of the oil industry, has been passed by the upper legislative body and is presently with the House of Representatives. He gave the assurance that all four parts of the Bill would be passed by the Senate and would be ready for presidential assent within the first quarter of next year.