PIB passes second reading in House of Reps

The Petroleum Industry Bill (PIB) has passed its second reading at the House of Representatives. The bill seeks to establish a legal, fiscal and regulatory framework for the Petroleum industry in Nigeria.

The Petroleum Industry Bill (PIB) has passed its second reading at the House of Representatives. The bill seeks to establish a legal, fiscal and regulatory framework for the Petroleum industry in Nigeria.
The debate on the general principles of the bill started on November 14 and the house had allotted two days for the debate of the PIB. Continuing debate on the bill, the Deputy Leader, Rep. Leo Ogor, urged the house to consider the bill, saying that the passage of the PIB would improve operations of the oil sector. “Let us give Nigerians a bill that will improve on the oil sector,’’ Ogor said.
The Deputy Minority Whip, Rep. Garba Datti and Rep. Fort Dike, said that the bill vested enormous power on the Minister of Petroleum, needed to be looked into. Dike also criticised the inclusion of the petroleum host community fund in the bill. He urged the house to also address the issue of gas in Nigeria, saying: “gas in Nigeria has been left largely unexplored, this bill needs to accommodate that issue’’.
 Rep. Farouk Lawan said that the PIB was one bill that would “have far reaching implication on the Nigeria economy. “The PIB would ensure that business is concluded based on international best practices. The PIB deserves to pass through the second reading,’’ Lawan said.
There was no dissenting voice and the bill sailed through the second reading after being put to vote by the Speaker, Rep. Aminu Tambuwal. Tambuwal said it was important for Nigerians to note that there was “no single “nay’’ opposing the second reading of the bill. He commended members for their patriotic debate, urging them to continue to put the interest of the nation above other interest.
 Meanwhile, a 23-member Special Ad-hoc Committee has been constituted to carry on further legislative work on the bill. The committees comprise House Committees Chairmen and their Deputies. The special committee is to be chaired by the Chief whip of the house, Rep. Ishaka Bawa, while Rep. Samson Osagie was named his deputy.