Nigerian House sends president PIGB

The Nigerian House of Representatives has sent President Muhammadu Buhari the harmonised version of the Petroleum Industry Governance Bill, local media reported over the weekend.

“With the transmission of the Petroleum Industry Governance Bill to the president, the onus now rests on the president of the Federal Republic of Nigeria to demonstrate his commitment to petroleum sector reforms for the benefit of the Nigerian people and assent to the bill with immediate effect,” local newspaper This Day quoted Nigerian Natural Resource Charter programme co-ordinator Tengi George-Ikoli as saying.

“The requisite petroleum sector institutions must also prepare to support the seamless transition and implementation of the bill once passed,” he added.

The bill, which envisions the breakup of NOC NNPC into several companies and regulatory authorities, is one of four texts into which the original Petroleum Industry Bill, in the works for decades, was split to expedite passage. The Senate passed the harmonised version earlier this month.

The remaining parts of the original bill are expected to pass by Q2, according to media reports.