National Assembly Passes Petroleum Industry Governance Bill
President of the Senate, Dr. Abubakar Bukola Saraki, has stated that the passage of the Petroleum Industry Governance Bill (PIGB) by the House of Representatives on Wednesday,17th January, 2018 following the Senate’s passage of the Bill last May, represents a historic milestone in Nigeria.
Once it becomes law, the PIGB will help stabilize Nigeria oil and gas sector and alleviate those issues that lead to scarcity like the limited supply of Premium Motor Spirit (PMS) and the corruption, diversion and smuggling — that leads to artiï¬cial scarcity.
The PIGB will ï¬x the loopholes that currently exist in the oil and gas sector, by promoting openness and transparency in the industry; clarifying the rules, and reducing corruption.
"This bridge that we have just crossed, is a part of the commitment of the National Assembly to remain focused, committed, and determined to meet your expectations. Let me remind our people that this is another promise made and kept by the 8th Assembly. With this feat, we have demonstrated that we have the will and capacity to deliver on our key promises aimed at rebuilding the national economy and improving the standard of living of our people", the Senate President said.