• PIB: Saraki directs Senate c’ttee to submit bill on host communities’ issues within 4 weeks

    PIB: Saraki directs Senate c’ttee to submit bill on host communities’ issues within 4 weeks

    Senate President, Bukola Saraki, yesterday, instructed the Senate Committee on Petroleum, Upstream, led by Senator Tayo Alaosoadura, to prepare and submit the Petroleum Industry Bill, PIB, which deals solely on the issues of host communities and fiscal considerations.

    The development came as the Senate passed the first batch of the PIB, sponsored by Senator Alaosoadura, who represents Ondo Central senatorial district.

    The first leg of the bill, tagged: Petroleum Industry Governance Bill, PIGB, 2016, which is in the second reading stage, only […]

  • FG renames PIB as PRB, submits draft bill to National Assembly soon

    FG renames PIB as PRB, submits draft bill to National Assembly soon

    According to reports, the Federal Government may have renamed the Petroleum Industry Bill (PIB) as Petroleum Reform Bill (PRB). The draft bill is expected to be submitted to the National Assembly in the next few weeks.

    Speaking yesterday in Abuja at the Nigeria Gas Association (NGA) 10th international conference and exhibition, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, consistently referred to the PIB as PRB.

    According to Kachikwu, “On the Petroleum Reform Bill, we are in the process of […]

  • Nigeria loses $200bn to non-passage of PIB – NEITI

    Nigeria loses $200bn to non-passage of PIB – NEITI

    It was gathered that the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed in a policy brief that Nigeria loses $200 billion yearly due to the non-passage of the Petroleum Industry Bill (PIB).

    The brief also alerted the nation to the fact that another $15 billion is lost yearly in fresh investments to regulatory uncertainties.

    With Nigeria in recession, NEITI urged President Muhammadu Buhari to take the lead and infuse urgency into the passage of the PIB as part of measures to […]

  • Why PIB is delayed – Senate explains

    Why PIB is delayed – Senate explains

    The Senate yesterday broke its silence on the delay in the passage of the Petroleum Industry Bill (PIB), blaming it on the disagreement over the host community clause in the document.

    The Red Chamber also condemned calls for a hike in the petrol price, describing such as being sponsored by enemies of ruling All Progressives Congress (APC).

    The Senate’s spokesman, Senator Aliyu Sabi Abdullahi, told reporters in Abuja that the Upper Chamber, upon resumption from their recess, would take on the management […]