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Tuesday, September 26, 2023

NASS Receives Petroleum Industry Bill

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The leadership of the National Assembly has acknowledged receiving the petroleum industry bill from the Executive arm of government

President of the Senate Ahmed Lawan confirmed the development in a meeting with the Minister of state Petroleum resources, and the Group managing director Nigerian National Petroleum Corporation in Abuja.

The Leadership confirmed that it received the most anticipated piece of legislation 2 weeks ago.

The essence of this meeting between the National Assembly and Nigeria’s oil company is to understand the content of the bill in order to ensure its speedy passage.

Speaker of the House of Representatives says the 9th assembly will ensure a prompt consideration and speedy passage of the petroleum industry bill but it will not sacrifice thoroughness

The minister of State, Petroleum resources, Timipre Sylva says the bill is very important to the Nation’s economy, as it will make the country an attractive investment destination.

However he says the country must begin to explore alternative sources of energy as it can no longer depend solely on oil.

The remaining part of the meeting was held behind closed doors in the National Assembly

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