Economy Oil & Gas

FG Confident of PIB Passage before May 29

The Federal Government has expressed confidence that the Petroleum Industry Bill, (PIB), before the National Assembly will be passed before the end of the current political dispensation which terminates by May 29.

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke who was represented by Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mr. Joseph Dawha, expressed the confidence while speaking at the Nigeria Oil and Gas (NOG) Conference and Exhibition in Abuja, stressing that the Nigerian Spirit will come to play in ensuring the passage of the Bill in the few days remaining.

According to her, “Everybody is excited about the passage of the PIB, unfortunately, it got stuck somewhere, but I believe it will be passed in the next few days. The Nigerian spirit will work in ensuring the Bill is passed despite the fact that we have only few days remaining. The Nigerian spirit is there any time and the spirit is very strong. At the end of the day, it will come to play. Everybody I talked to is optimistic about the passage of the Bill. Nobody is opposed to it, it is just the timing, I believe.”

She restated the commitment of the Federal Government to the passage of the Bill, adding that it wants to entrench a clear and transparent fiscal rule of general application with appropriate incentives to the investor and commensurate economic rent to the state.

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Ihesiulo Grace

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