#NigeriaNeedsPIB: Nigerians Call For The Passage Of PIB

by on August 20, 2020

Nigerians have appealed to President Muhammadu Buhari to ensure the Petroleum Industrial Bill, PIB, is passed into law in 2020.

The PIB which seeks to increase government revenue from oil and lay down a strengthened legal and regulatory framework for the Nigerian oil industry, has continued to suffer legislative delays and limited consideration from the executive.

Nigerians using the #NigeriaNeedsPIB have advised the government to face it’s fears and pass the bill because of the economic benefits that will be derived from Petroleum exploration and production.

Read some of the tweets;

The bill initiated in 2004 was first submitted to the National Assembly in 2012 with several committees constituted for the purpose with countless stakeholder consultations and engagements all resulted in endless back and forth between the executive and the legislature.

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For more than eight years since the bill was first presented to the National Assembly it

This bill will solve the enormous challenges of the Nigerian oil and gas industry as every year the country ignores the passage of this bills results in setbacks as it worsens the problem of the sector and by extention the Nigerian economy that largely depends on it.

Over the years the government has demonstrated it’s lack of will power or maybe one can say a deliberate attempt to ignore the passage of the bill despite its huge advantage .

When passed, the bill will improve transparency, attract investors, stimulate growth and increase government revenues.

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It also seeks to establish a framework for the creation of commercially-oriented and profit-driven petroleum entities, to ensure value addition and internationalisation of the petroleum industry, through the creation of efficient and effective governing institutions with clear and separate roles for the petroleum industry.

The bill is designed to reform the Nigerian oil and gas industry. All the government owes it’s citizen is to be sincere enough to pass this bill which on as the advantages have been see to be a panacea to the growth of the nation’s economy.

For efficiency PIB was broken into four Bills namely: Petroleum Industry Administration Bill, PIAB, Petroleum Industry Governance Bill, PIGB, Petroleum Industry Administration Bill, PHICB, Petroleum Industry Fiscal Bill, PIFB.

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Despite the breakdown for clarity, it still remains unclear while the bill is still awaiting passage with little or nothing done to see that the bill is near passage.

Although president Buhari had promised that by 2020 he would ensure PIB becomes law, not much as been done towards achieving the goal.

It almost seem like the government now enjoys the delay and controversy around the bill, hence it’s refusal to take decisive steps that will help fast track the process of making the effort bill a law .

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