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‎Three PIB Related Bills Scale Second Reading At Senate

35 views · Published 28 July 2017 · 3:47 · Indexed 26 October 2026

Channel: Viable Tv · 2017 · People & Blogs

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The Nigerian Senate has passed to second reading stage three Petroleum Industry Bills (PIB) related Bills.

The three Bills are aimed at providing legal frameworks and other critical aspects of the petroleum industry not captured in the recently passed Petroleum Industry Governance Bill (PIGB).

The Bills which were considered and passed for second reading include the Petroleum Host Community Bill 2017, Petroleum Industry Fiscal Bill 2017 and the Petroleum Industry Administration Bill, 2017.

In his lead debate, the Chairman Senate Committee on Petroleum Resources (Gas), Senator Kabir Marafa‎  noted that the Petroleum Host Community Bill seeks to provide a legal framework for the host communities in Nigeria. 

TRK-UP-‎Sen. Kabir Marafa‎

Moreover, the Chairman Senate Committee on Petroleum Resources (Upstream), Senator Omotayo Alasoadura, said the primary purpose of the Petroleum Industry Fiscal Bill, is to make for fully developed fiscally sustainable, safe, secure, environmentally friendly, efficient and integrated petroleum operations for the socio-economic development of Nigeria.

TRK-UP-Sen Omotayo Alasoadura,‎

On his part, Chairman Senate Committee on Petroleum Resources (Downstream), Senator Bassey Akpan, in his lead debate, said the Petroleum Industry Administration Bill, 2017, seeks to provide for a new legal framework for the administration of the upstream, midstream and downstream sectors of the nation's petroleum industry. 

TRK-UP-Sen.Bassey Akpan

In his remarks, President of the Senate,Bukola Saraki, noted that the passage of the Bills was in fulfillment of the commitment of the Senate to ensure the swift passage of all PIB related Bills following the passage of the PIGB by the Senate last month. 

On the passage of the Fiscal Framework Bill, Saraki said he Principle must be a Win-Win for Government and stakeholders. Nigeria's Petroleum Industry cannot operate in isolation. This is a Bill that will bring in more investments into the country.

TRK-UP-‎Bukola Saraki-SP

The President of the Senate however committed the three Bills to the relevant committees of the Senate for further legislative work and to report back to plenary in four weeks. 

Also, the Senate passed the Bill for an Act to establish the Nigerian Financial Intelligence Agency Bill 2017. The Bill is aimed at making the Nigerian Financial Intelligence Unit (NFIU) autonomous, to pave the way for the nation's re-admittance into the EGMONT Group, following Nigeria's suspension earlier this month. END!!!

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