Senate President, Dr. Abubakar Bukola Saraki said yesterday that the upper chamber of National Assembly has resolved to break the jinx of passing the Petroleum Industry Bill, PIB for adequate reforms in the nation’s oil and gas sector.
To achieve this, he said the Senate has adopted the PIB as one of its legislative agenda, adding that the legislature was already working with the executive towards getting the bill passed quickly.
The PIB failed to scale through legislative process in the 6th and 7th National Assembly for reorganisation of the petroleum sector.
Saraki, who spoke while inaugurating another set of 11 standing committees of the senate in Abuja, pointed out that “the oil and gas industry remains the lifeblood of the Nigerian economy”.
“The industry is being through a downturn period which presents also the opportunity for us to reform the local industry to meet with changing times.
“Attempts in the last to reform the industry through the Petroleum Industry Bill have not been able to go full circle for variety of reasons”, the senate president stressed.
He particularly charged the Petroleum Upstream, Petroleum Downstream and Gas Committees to immediately swing into action so as to make the quick passage of the bill possible.
Saraki informed that the Senate would, in a matter of weeks, begin consideration of the first seething of bills on the petroleum industry reforms.
According to him, the chairmen and members of the committees were carefully chosen to help the upper house complete the reform process that will make the nation’s oil and gas industry more adaptive to international best practices.
“The Senate expects that youpay very loss attention to these bills and treat them with dispatch so that we can quickly move towards the implementation of the reforms whichbhave become long overdue”, he said.
Saraki informed that by the committees inauguration, the senate has begin the full implementation of its vision to make laws that will impact positively in the lives of Nigerians.
Committes inaugurated by the senate president are Petroleum Upstream; Petroleum Downstream; Gas; Education (Basic & Secondary); Women Affairs; Employment, Labour & Productivity; Establishment & Public Service; Culture & Tourism; Special Duties; and States & Local Government Affairs, respectively.