31 March 2017, Sweetcrude, Abuja – Barring any last-minute changes, the Senate Joint Committee on Petroleum (Upstream, Downstream, and Gas), will on 25th April lay the final report of the Petroleum Industry Governance Bill (PIGB) before the Senate for consideration and approval.
Recall that the Group managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru had explained that the Petroleum Industry Bill (PIB) would be split into four different bills for ease of passage in the Nigeria.
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 25, 2017, for final consideration and approval.
According to the Senate President, Dr. Bukola Saraki, who spoke recently during a three-day public hearing organized by the Committee, the PIGB is meant to create efficient and effective governing institutions with clear and separate roles for the petroleum industry.
Besides, he stated that the PIGB also seeks to establish a framework for the creation of commercially oriented and profit driven petroleum entities that ensure 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.