The Senate on Tuesday received the report of the Joint Committee on Petroleum (Downstream); Petroleum (Upstream) and Gas Resources on the Petroleum Industry Bill, 2021.
But for the Leader of the House of Representatives Peoples Democratic Party, PDP, Caucus, Rep Kingsley Chinda, he would support the present Petroleum Industry Bill, PIB, because it is better than having no bill to regulate the sector.
Said he on Tuesday, “Yes this is an emotional PIB but as time goes by amendments will be carried out to properly streamline it to make it better for Nigerians that’s our dream.
“It is all about Nigeria but mark it whatever is happening now will be highly regretted later because this is a Bill that has lasted over 20years.
“In the seventh and eighth assemblies we passed it but they killed it because of some vested interest but now that they are the ones clamouring for it I will personally support it.
“A situation where there’s no governing law for the oil sector and for years anything that comes in the form of law I will support it.
The Senate report was laid during plenary by Chairman of the Joint Committee, Senator Sabo Mohammed (APC, Jigawa South-West).
President of the Senate, Ahmad Lawan, after the report was laid, told lawmakers that the report would be considered on Thursday.
He, therefore, mandated the Joint Committee to provide lawmakers with copies of the bill ahead of its consideration to enable them study its content.
Lawan said: “Let me use the opportunity to thank our Joint Committee for working so hard, selflessly and patriotically to produce the report on the Petroleum Industry Bill.
“This report, a copy each, must be made available to each and every Senator today, this afternoon.
“I don’t know how the Committee would arrange it, but every Senator must have a copy today.
“[And] we would be considering the report on Thursday.
“So, we have today, tomorrow until the beginning of Thursday to look at the report, so that when we consider it, we will be doing so on the basis of what we have been able to read from this very important report.”