₦airaland Forum

ABUJA—The House of Representatives is to
commence consideration of the Petroleum
Industry Bill, PIB, next week.

Deputy speaker of the House, Rep Emeka
Ihedioha who disclosed this at yesterday’s plenary
announced that clean copies of the report of its
ad hoc committee on the bill has been circulated
to lawmakers.

Vanguard recalls that the ad hoc committee led by
the House Chief Whip, Rep Ishaku Mohammed
Bawa, PDP, Taraba had presented the report, in
March 2015 after almost three years of its
assignment.

The committee had scrutinised the whole 363
sections and annexures of the original bill and
made some amendments and recommendations.
The 23-member ad hoc committee had held public
hearings in the six geopolitical zones, including
the Federal Capital Territory ,FCT, which
afforded stakeholders and general public the
opportunity to make contributions to the law.
The original bill covered salient areas such as
establishment of the Petroleum Equalisation Fund,
incorporation of National Gas Company,
establishment of petroleum directorate and
National Asset Management Company as well as
imposition of new tax regime such as Nigeria
Carbon Tax.

In the report, the committee recommended the
“complete removal” of section 191 of the bill that
gives the president discretional powers to grant
petroleum licences and lease and instead proposed
biddings for the award of licences.

Vanguard recalls that the 7th Assembly killed the
PIB at the very last minute of its existence in
June 2011.

http://www.vanguardngr.com/2015/05/reps-set-to-consider-petroleum-industry-bill-next-week/

At last. Why did they have to wait this long? Guess everyone is trying to do things rightly before GMB comes into power.

Change Is knocking!

Rubbish

#Believe.......a new nigeria begins may29

MacOscar:
Change Is knocking!

abi nah