MAYOWA SAMUEL
The House of Representatives on Thursday passed into law the Petroleum Industry Bill.
The passing of the bill is coming after 14 years of its introduction into the floor of the house.
The lawmakers passed the bill after considering the report of the ad hoc committee chaired by Mohammed Monguno.
Following the clause by clause consideration on the report at the committee of the whole, it was passed.
The session was presided over by the Deputy Speaker, Idris Wase.
Recall that the Minister of State for Petroleum Resources, Chief Timipre Sylva on Sunday assured that the bill will be passed in the next few weeks.
The aim of the bill is to completely overhaul the Nigerian oil and gas sector seeks to among others ensure an increased level of transparency and accountability by strengthening governing institutions to attract investments in the industry.
