NASS Working on New Version of Petroleum Industry Bill – Dogara

The Speaker, House of Representatives, Mr Yakubu Dogara, says National Assembly (NASS) is working on its own version of Petroleum Industry Bill (PIB) to reform the nation’s oil and gas sector. He expressed optimism that the planned version of the bill, when passed and assented to, would reform the oil sector and amend necessary laws guiding its operations.

Dogara said the need for oil and gas reform Bill became pertinent with the challenges facing the sector and Nigeria’s dependence on revenue accruing from it to fund its budget.

“We have repeatedly called on the executive to present reform proposals in the petroleum sector, we may not continue to wait for an executive bill on this subject matter as we are prepared to introduce the National Assembly’s version.”

“We cannot continue to take the blame for non-passage of the petroleum reform legislation in Nigeria, as I speak to you, work on our own version has reached advanced stage.” he said.

He said the House would partner with Exractive Industries Transparency Initiative (EITI) first quarter of 2016, to consider and debate the Nigerian Extractive Industry Transparency Initiative (NEITI) audit report.

He directed the committees on Petroleum (Upstream) and Rules and Business to introduce and reschedule report for debate before the end of the first quarter.