The Hause of representatives have today thursday 1st of July 2021 passed the Petroleum Industry Bill.
The bill which following the consideration and adoption of the report on the controversial legislation, Speaker of the House, Femi Gbajabiamila, hailed the lawmakers for the record passage of the controversial bill, Gbajabiamila also said that the 9th assembly will go down in history describing it as significant in the chronology of the parliament.
The Majority Whip and Chairman of the Ad Hoc Committee on PIB, Mohammed Monguno, had earlier laid the report at the plenary on Wednesday.
On Thursday, Monguno prayed urging the House to consider the report on the ‘Bill for an Act to Provide Legal, Governance, Regulatory and Fiscal Framework for the Nigerian Petroleum Industry, the Development of Host Communities; and for Related Matters, 2021 (HB. 1061) and Approve the Recommendations Therein.’
The House, which reverted to Committee of the Whole, considered the 318 clauses of the PIB as part of its third reading.G
Gbajabiamila said, opportunity to underscore the points made by Hon. Monguno. What this House has just done; “If i can score how big what we have look just done today; it has been 20 years in the making. This is a product of 360 wise men. I want to commend them for their commitment, their industry and their scholars in producing these 318 sections.”
The House had proposed to pass the PIB in March, a target that was later shifted to April, and then to June 2021.
The lawmakers had debated the general principles and passed the bill for second reading on November 24, 2021, while a public hearing was organised for it on January 27, 2021 – two months after