Senate and the House of Representatives, on Thursday, passed the Petroleum Industry Bill.
PIB was first passed at the House of Representatives after the Committee of the Whole considered the clauses of the bill based on the recommendation of the Committee on PIB.
Chairman of the Ad Hoc Committee on Petroleum Industry Bill, Mohammed Monguno, presented a report and the lawmakers voted on 319 clauses of the bill.
Monguno said with the passage of the bill, the Ninth House would have succeeded in enacting important legislation.
The lawmaker added that the bill would make the oil and gas industry more transparent and competitive.
Following the passage of the bill, Speaker Femi Gbajabiamila commended the lawmakers for “making Nigeria proud”.
In the Senate, the bill was passed after a clause by clause consideration of the report of its joint committee on Petroleum (Upstream, Downstream and Gas) on PIB.
Senate President Ahmad Lawan congratulated the lawmakers, saying the Ninth National Assembly had achieved one of its fundamental legislative agenda.