The House of Representatives has reiterated its commitment to provide legislations that would effectively and efficiently transform the Nigerian oil and gas sector. The Speaker House of Representatives, Mr. Yakubu Dogara stated this in Abuja at a Public Hearing on three oil and gas bills.
Mr. Dogara who expressed concern over the absolute oil and gas laws in the country that hindered the development of the sector said the legislative move was to make the sector comply with global standard.
He said the most important setback was that “ the PIB was difficult to handle by the relevant committees because it was a massive and complex document…..The implications of the delay in concluding the oil and gas industry reforms has been very colossal for our country.”
Earlier, the Chairman of the Adhoc Committee on Petroleum Industry Bill, AlHassan Ado Doguwa said the said the intent of the legislative reform was to provide the enabling environment for Nigeria to reap the full benefit of its oil and gas sector.
“I’m optimistic that with the passage of these bills the Nigerian Petroleum Industry would flourish once again. The National Assembly is sincerely committed to the realisation of this goals as enshrine in the legislative agenda of the 8th House of Representatives.” Doguwa stressed.
The three bills were part of the Petroleum Industry Bill aimed at reforming the sector that was dissected into four for easy passage.
Already the Petroleum Industry Governance Bill, PIGB was passed by the two chambers of the National Assembly awaiting for President’s assent.
