Senate Approves New Petroleum Bill For Consideration |The Republican News

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The Senate yesterday approved a new segment for the contentious Petroleum Industry Bill (PIB) for consideration.

The bill was split into five segments owing to the controversy generated by attempts to pass the original bill wholesale.

The approval for the consideration of the new segment came through a presentation by the chairman of the Senate Committee on Petroleum (Upstream), Senator Tayo Alasoadura.

Alasoadura had noted that there was no provision for oil producing communities in the original bill, a development that threw up heated argument at plenary.

Senate President, Dr. Bukola Saraki stated that the segment in question centred on issues of governance and general administration of the petroleum industry.

He instructed the three standing committees on petroleum (upstream and down stream) as well as the committee on gas resources to work on the document and submit a report within four weeks.

He however directed that the segment relating to oil producing communities be submitted for prompt consideration, without prejudice to the new segment.

Saraki said: “Clearly, what we have done here is really to make us to move forward in this important bill; to see that after so many years, we finally pass this Petroleum Industry Bill. And that is why it has been put into different sections.”  The Nation

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