[size=14pt]Nigerian president sees oil reforms before May[/size]
Wed Feb 2, 2011 5:14pm GMT

(Reuters) - Nigerian President Goodluck Jonathan said on Wednesday he expects wide-ranging reforms to the mainstay oil and gas industry to be passed into law before the end of the current parliament in May.
Speaking during a visit to Turkey, Jonathan said the move would "give fresh impetus to the federal government's efforts to further liberalise Nigeria's oil sector and attract greater foreign investment", according to a statement from his office.

The Petroleum Industry Bill (PIB), long delayed by constant revisions, will re-write Nigeria's decades-old relationship with foreign oil partners, including firms such as Royal Dutch Shell, Exxon Mobil and Chevron.

The proposed legislation will alter everything from the fiscal framework for offshore oil projects to the involvement of indigenous firms in the sector.

Uncertainty over the plans -- which could significantly increase the cost of operating in Africa's biggest oil exporter -- have put billions of dollars of potential investment on hold, according to industry executives.

The bill has been before parliament for months and with April presidential, parliamentary and state governorship elections fast approaching and political minds elsewhere, many observers had expected it not to pass under the current administration.

http://af.reuters.com/article/topNews/idAFJOE7110G720110202

hahahahaha! LWKMD!! 

First it was Austen Oniwon (NNPC head) 'expecting' passage of the bill, but NASS lethargic attitude shut him up.

Next was Allison Madueke (Minister of Pet.) 'expecting' the bill by end of December last year, NASS made her look like a small girl.

Now oga GEJ don dey 'expect' im own! Hahahahahaha! 9ja 2 much.

Don't mind me please a sudden wave of lafta has overtaken me. Maybe the NASS will pass it now that GEJ allowed them to buy their official residences.

Tho NASS is taking pains to let the bill work as in other oil producing countries, the bill is long over due for the president's assent

Tho NASS is taking pains to let the bill work as in other oil producing countries, the bill is long over due to reach the president for assent

More propaganda - from the GEJ boys - beaf posts - logouts Nsiman show up, posts a GEJ a ss licking comment - I expect Johndoe and Beaf wearing womans clothes ( Ma j blige) to show up very soon


I almost fall off my seat - Laughing