R-APC
Nigerian Senate

The National Assembly has transmitted the Petroleum Industry Governance Bill (PIGB) to President Muhammadu Buhari for signing into law.

The PIGB seeks to unbundle the Nigerian National Petroleum Corporation (NNPC), among others.

According to a source in the Senate, the bill was transmitted to the President for assent on July 3, 2018.

“We have transmitted the PIGB to the President. The acknowledgement copy indicates that it was received at the Presidency on July 3. It is now left with the President,” the source told Punch.

The Senate had on March 28, 2018 passed the harmonised version of the PIGB.

The passage followed the adoption of the report by the Conference Committee on the PIGB, which harmonised the versions earlier passed by the Senate and House of Representatives.

The harmonised version of the bill seeks to split the NNPC and merge its subsidiaries such as the Department of Petroleum Resources (DPR) and the Petroleum Products Pricing Regulatory Agency (PPPRA) into one entity.