*Saraki Keeps His word, As #PIB Passes Second Reading*

 
President of the Senate, Dr. Abubakar Bukola Saraki has fulfilled his promise of ensuring that the Petroleum Industry Bill is given the necessary attention it requires to accelerate its passage.

The Senate at its plenary session today, 2nd November, 2016 passed the PIB (SB. 237) for the second reading before it ended the days business.

 
The #PIB is an act to provide for the Governance and Institutional Framework for the petroleum Industry and other related matters, 2016 (SB. 237).

The bill seeks for the creation of commercially oriented and goal driven petroleum entities that ensures value addition and internationalization of the petroleum industry. The PIB will also provide transparency and accountability in the administration of Nigeria’s Petroleum Industry.


‘’The Petroleum Industry Bill (PIB) is the number one priority bill. The bill we are considering today is only the first in a line of four steps that we expect to provide the comprehensive package of legislations that we expect will form the bases for the expected reform of the Petroleum Industry’’. Saraki said.


In addition, the Senate President commended his colleagues for their non-partisan contribution to the #PIB, and noted that the Senators have ‘’shown commitment to Nigerians and the economy as a whole’’.


While emphasizing the importance of the bill and the need for stability in the Niger Delta, Saraki said ‘’We must bring the part of #PIB that seeks to address community issues frontiers before the final draft of this part’’ 


The debate on the Petroleum industry bill was led by Senator Tayo Alasoadura representing Ondo central, he makes a case for the reform of Nigeria’s oil and gas sector by the 8th senate owing to the failures of the 6th and 7th Senate to consider and pass the bill.     


Other Senators who spoke in support of the PIB include: Senator Barnabas Gemade, Senator Jibrin Barau and Senator James Manager.