PIB
Senate Chambers

The Senate will begin deliberations on the Petroleum Industry (Governance) Bill (PIB) next Wednesday.

According to the notice paper of the upper chamber of the National Assembly, it will lead other major issues for deliberation.

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The bill seeks to provide for the Governance and Institutional Framework for the Petroleum Industry. Chairman, Committee for Upstream Petroleum sector. Senator Tayo Alasoadura will move for second reading.

For almost a decade, the PIB has been pending in the National Assembly. Now, it has been broken into different bills to address various aspects of the oil industry.

Senate Moves To End Recession With PIB, Others

Meanwhile, the Senate will focus on the legislative efforts aimed at ending the economic recession next week.

According to Senate President Bukola Saraki, aspects of the old laws that are not controversial will be quickly passed. Other areas that require more consultations will come later.

Also, the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) will be considered in accordance with the Fiscal Responsibility Act 2007.