The chairman of Senate
Committee on Petro
Senator Bassey Albert Akpan,
has reiterated that the ninth
Assembly will pass the Petroleum Industry Bill (PIB) before
the end of April 2021.
Akpan gave the assurance at the
inauguration of the Nigerian Upstream Cost Optimisation Programme (NUCOP), in Abuja on
Tuesday, last week.
He said that the Senate had
given itself a timeline to ensure
that the bill was passed because
of its importance to the growth
of the oil and gas sector in the
"We believe as members of the
National Assembly that the real
essence and what we must come
to terms is to pay greater attention to the passage of the PIB.
"I want to assure this gathering
that this 9th Assembly headed by Senator Ahmad Lawan will pass
the PIB before the end of April
"We have set this timeline for
ourselves as a body and we have
provided everything that will help
us achieve this target,'' he said.
Akpan said that reduction of
cost of crude oil production was
a step in the right direction, adding that there was need for operators to harmonise their activities
to achieve that goal.
The committee chairman said
that with the passage of new PIB,
achieving the objectives of
NUCOP would be easy.
Akpan noted that the real essence of taking a second look at
the PIB was the need to update
all the obsolete and outdated oil
and gas laws in the country.
The lawmaker said that the new
PIB to be passed by the National
Assembly would be simple and
easy to understand and implement.
"Let me assure each and every
one of you that we will do everything possible to ensure that we
pass a bill, not just a law that will
be globally competitive, met all
standards and easy to implement.