Dogara Urges Early Re-Introduction of Petroleum Bill
Speaker of the House of Representatives, Hon. Yakubu Dogara has called
on President Muhammadu Buhari to urgently re-transmit the Petroleum
Industry Bill (PIB) to the legislature to ensure its early passage into
law due to its importance to the nation’s economy.
Speaking Monday at the Dialogue of the National Assembly on economy,
security and development in Abuja, Dogara described the PIB as one of
the most important pieces of legislation as the sector still accounts
for over 70 percent of the nation's foreign exchange earnings despite
the fall in oil prices.
"We therefore cannot afford not to organize the sector in such a manner
as to benefit the nation. In this regard, may I call on the President
as the Minister of Petroleum to as a matter of urgency transmit a Bill
to the National Assembly on how his administration intends to reorganize
the Petroleum Sector," he said.
Dogara noted that the PIB has had a checkered history, with its
introduction late in the sixth Assembly. In the 7th Assembly, a private
Members Bill was introduced in the first month of that assembly, based
on the experience of the 6th Assembly, he said.
"However, the last administration informally indicated that it would
prefer an Executive Bill on the matter, which took over two years to
materialize. It was passed only by the House of Representatives very
late in its tenure without the Senate concurring. Investment decisions
in this field cannot continue to wait. Clarity on the legal framework
for Oil and Gas in Nigeria is crucial to our economy. Contrary to the
assertion that the size of the Bill is the problem, the fact is that an
early introduction will lead to an early passage," he said.
Speaking further, the Speaker called for all expenditure by all
Ministries, Departments and Agencies (MDAs) to be captured in a single
budget.
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