Chairman of the House Adhoc Committee on Petroleum Industry Bill, Mohammed Mungonu, says the PIB would be ready for Presidential assent by first quarter of 2021.

Chairman of the House Adhoc Committee on Petroleum Industry Bill, Mohammed Mungonu, says the PIB would be ready for Presidential assent by first quarter of 2021.

 Hon Mohammed Mungonu gave the indication on Wednesday at the inauguration of the Committee.

The Lawmaker, who disclosed that the bill was first introduced in the House in 2007, stressed that the Oil industry remains the main stay of the country, despite efforts by previous administrations to diversify the economy.

He urged Nigerians to make input by submitting their memoranda to the National Assembly, adding that the bill will improve clarity of structures, roles, accountability, transparency and overall efficiency and effectiveness of the Institutions in the Oil Industry.

Hon. Mohammed Mungonu Chairman, PIB.

The Committee revealed that a Website has been created as a platform where stakeholders and general public can download the text of the Bill.

The Petroleum Industry Bill on 24 November 2020 passed second reading on the floor of the House of Representatives and was referred to the Adhoc committee on PIB for further Legislative action.



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