President Muhammadu Buhari said yesterday he was committed to Nigeria’s reform, saying he would assent to the Petroleum Industry Governance Bill, PIGB, as soon as the National Assembly presented it to him. He also appealed to worrkers in the oil and gas sector to accord maximum cooperation to his administration to deliver on his promise […]
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President Muhammadu Buhari has said to demonstrate his commitment to Nigeria’s reforms, that he would give assent to the Petroleum Industry Governance Bill, PIGB, as soon as the National Assembly presents it to him. This was as he appealed to workers in the oil and gas sector to accord maximum cooperation to his administration in […]
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Stakeholders in the Nigerian petroleum industry have stated that the delay in passing the Petroleum Industry Bill, PIB, into law has resulted in a lot of leakages, theft and sabotage in the industry. They made this assertion in a communiqué issued at the roundtable on the PIB in Abuja. The stakeholders averred that Nigeria’s competitive […]
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The National Assembly has transmitted the Petroleum Industry Governance Bill to President Muhammadu Buhari for signing into law, correspondent learnt on Tuesday. The PIGB seeks to unbundle the Nigerian National Petroleum Corporation, among others. A source at the Senate told our correspondent that the bill was transmitted to the President for assent on July 3, […]
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The delay in passing the Petroleum Industry Bill (PIB) is said to have cost the country over $200 billion, the Executive Secretary of Nigerian Extractive Industry Transparency Initiative (NEITI), Mr. Waziri Adio, has disclosed. Adio stated this at a symposium on the Next Steps for PIB convened by NEITI in Abuja yesterday. A worried Adio […]
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Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country’s oil industry. Nigeria’ lower house of parliament has passed a version of the bill which is the same as one approved by the […]
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Barring any last minute change, the long awaited Petroleum Industry Bill (PIB) will be ready in the next two weeks. The Lead Consultant to the Senate on PIB and former Director of the Department of Petroleum Resources (DPR), Mr. Austin Olorunshola, who gave the timeline yesterday, at the 55th anniversary of the Oil Producers Trade […]
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The long-awaited oil governance bill passed by Nigeria’s upper chamber of parliament proposes breaking up the state oil company into three commercial entities supported by a regulatory body and a fund to oversee the distribution of money. The Petroleum Industry Governance Bill, passed on Thursday by the Senate, is part of planned reforms that make […]
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The Senate on Thursday passed the first part of the much anticipated Petroleum Industry Bill (PIB) after 17 year of consideration. The Petroleum Industry Governance Bill (PIGB) has been passed to take care of the governance aspect of the PIB. The Bill which has gone through 5 sessions of the National Assembly beginning from the […]
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