Ahmed Lawan Promises Quick Passage Of PIB As IOCs Pick Holes In Current Draft

Ahmed Lawan

President of the Senate, Ahmed Lawan has assured Nigerians that the 9th National Assembly will break the jinx that has made it impossible for Nigeria to pass the PIB in over 14 years.

The Senate President, who stated this when he declared a two-day public hearing on the PIB open, attributed the delay in the passage of the bill to lack of adequate consultations with relevant stakeholders.

The lawmakers are however hopeful that the controversial Petroleum Industry Bill will be passed in the first quarter of the year.

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Meanwhile International Oil Companies with investment portfolios in Nigeria have picked holes in the Petroleum Industry Bill as currently drafted and before the National Assembly for passage.

Speaking at the two-day public hearing which started on Monday, the Chairman of the Oil Producers Trade union, Mike Sangster said if the PIB is passed in its current form, it will not meet the desired objectives of the government.

Another group, Women in Energy Network, also kicked against the provision which recommends that investors should donate 2.5% of their overhead cost to their host community.

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The group argued that 2.5% is too expensive in an already overtaxed industry; asking that it should be reduced to 1%.

The position of the Women group did not go down well with representatives of host communities present at the public hearing.

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