Petroleum Africa
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Sunday, April 9, 2017
Nigeria’s oft debated and reworked draft oil regulations has been sent to the Senate. The Senate will debate the long-awaited oil industry reform bill after receiving the draft law on April 6.
The legislation is part of proposed reforms that make up the expansive Petroleum Industry Bill (PIB), which Nigeria has been trying to make into law in one form or another for more than a decade.
The bill’s acceptance into the upper house marks the closest it has yet come to becoming law, said Senate President Bukola Saraki.
“I think we are all proud that we have gone this far and we have finally broken this jinx,” Saraki said in a Reuters report.
Once the senate has approved the bill, it will be sent to the lower chamber of parliament. With the approval of both, the final version will be sent to the president to be signed into law.
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