The Nigerian Petroleum Industry Bill (PIB) may be passed before May 29, Dr Shamsuddeen Usman, Minister of National Planning has confirmed.
Speaking at the 5th annual lecture of Perchstone and Graeys, a Lagos law firm, Usman noted that the bill was central to the reforms being carried in the petroleum sector.
The theme of the forum was: “Managing investment policy reforms in times of political transition”.
Usman said: “It is an important legislation for us and we are very anxious about its passage.
“Given the assurances that we have had from several members of the National Assembly, we are optimistic that this bill which would reform the petroleum sector will be passed before May 29”.
Usman, Deputy Chairman, National Planning Commission, said the various reform programmes of the government since 1999 had resulted in significant economic growth of the country.
“Nigeria’s economy has recorded an average growth of 7 per cent, which improved significantly to 7.8 per cent in December 2010, but unfortunately it has not impacted on majority of Nigerians,” he said.
He disclosed that President Goodluck Jonathan would soon unveil his transformation agenda aimed at putting the country back on track to achieve its Vision 2020.
The president, Usman said, would be focusing on power, petroleum, agriculture, electoral reform, anti-corruption, employment generation, security, public service reform, among others.
