National Assembly extends passage of PIB to Q1 2018


The National Assembly has moved the passage of the other three versions of the Petroleum Industry Bill (PIB) to the first quarter of 2018, The Guardian reports.

Apart from the Petroleum Industry Governance Bill (PIGB) that was passed by the Senate, there are three others, namely: Petroleum Industry Administration Bill that is on licensing; Petroleum Industry Fiscal Bill that deals with the fiscal terms and the Host Community Trust Bill that takes care of communities that oil exploration impacts negatively.

Chairman of the Senate Committee on Upstream, Tayo Alasoadura, who spoke at the on-going 7th Practical Nigeria Content organised by the Nigeria Content and Development Monitoring Board (NCDMB) in Uyo, Akwa Ibom State, said the need to expedite action on the 2018 budget proposal necessitated the shift in date for passage of the PIB from the end of 2017 as earlier projected to the first quarter of next year (2018).