The much-expected Petroleum Industry Bill (PIB) and the Electoral Act Amendment Bill have scaled second reading in the House of Representatives. Both important pieces of legislation were passed by the lawmakers after they were read for the second time during Tuesday’s plenary at the lower chamber of the National Assembly in Abuja.
Leading the debate, the Leader of the House, Alhassan Doguwa, noted that the PIB has been a very important piece of legislation that has been in the works since the Fifth Assembly. He was, however, hopeful that the 9th Assembly would be able to make the history that has eluded the Nigerian people. The lawmaker stated that the bill was presented to the Presidency for assent to be granted but that was not the case.
He praised the vision of the Speaker of the House, Femi Gbajabiamila, the Senate President, Ahmad Lawan, who engaged the Presidency to ensure it succeeded this time. In his contribution, the Chairman of the House Committee on Petroleum (Upstream), Musa Adar, stated that the PIB came at a time when Nigeria cannot afford to lose scarce resources, especially as a direct fallout of the COVID-19 pandemic.
He believes with the discovery of oil in different African countries, Nigeria needs to develop an oil sector that will ensure maximum profitability which will create wealth for the nation and its people.